The real estate market in Miami and south Florida is certainly expanding. With this expansion, there has been an increase in luxury pre-construction developments. There are a large number of luxury pre-construction projects going on in both Miami and Miami Beach, and many foreign and domestic investors are putting their money into these projects. The luxury pre-construction segment of the real estate sector in South Florida is gaining this high level of attention due to the various benefits that go along with this type of investment. These are just a few of the benefits that you will experience when investing in the luxury pre-construction market in South Florida:
You can buy real estate at a fraction of the price: Choosing to invest in luxury pre-construction projects gives you the opportunity to invest in the property of your choice at a fraction of the cost you would have spent on a finished project. You do not have to settle for less lucrative deals due to a paucity of funds. There are also perks that can often be found in the pre-construction market, such as upgrades on counter tops and other items. These extras can greatly increase the value of your real estate investment
You can save a large percentage of the cost of the completed development: Investing in luxury pre-construction projects gives you an opportunity to save a significant percentage (sometimes up to 30%) of the total cost of a finished project. Financing costs are saved because the development is being funded through the buyers’ deposits and not through bank loans
You can leverage your assets for longer: Investing in pre-construction projects gives you the opportunity to leverage your assets for a longer period of time without extra taxes and interests hanging over your head. Investing in pre-construction projects allows you to sit back and watch your investment appreciate in value without being bothered by maintenance costs and other expenses that are associated with post-construction real estate.
It is not unusual to consider buying a unit that has already been fully developed, but the benefits of investing in pre-construction clearly outweigh any potential fears you may have, especially when you chose a reliable luxury real estate investment company to guide you in your quest.