Purchasing a property like a house or a condominium is undoubtedly a big investment for most people. Such a big investment may also contain an equally big risk when you place your hard-earned money on a project the construction of which is not yet completed, or worse, not even started. With projects that are ‘not yet finished’, there are always risks that the projects may not be completed according to the time or specifications as advertised. Or in even more serious cases, the construction of the project may be cancelled altogether because it is not granted the Environmental Impact Assessment (EIA) approval. Such unfortunate cases have happened too many times before and costly and daunting lawsuits often follow.

On the other hand, completed, ready-to-move-in projects offer so many mutually rewarding benefits for both the project developer and the prospective buyers. The benefits are so great that many developers have already made it a policy that all of their real estate projects must be ‘completed’ before ‘sold’. This means that customers always see and experience first what they will get before they make their buying decisions. For customers, this approach will translate into greater satisfaction and confidence in their purchases. For developers, such practice will significantly reduce problems regarding ‘unapproved loans’ because customers must be ‘financially ready’ in the first place in order to purchase ‘ready-to-move-in’ properties. Moreover, this will also ensure that the ‘supply’ will respond to the ‘real demand’ in the market.

According to TerraBKK.com Research, the study found that ‘ready-to-move-in’ projects offer the following 7 benefits when compared to ‘not-yet-finished’ projects.

1. Buy it and move in

This is of course the most obvious benefit. No long wait before the ownership transfer. Once the buyers made the necessary payment, they can move in straightaway. No more worries about delayed construction or sub-standard construction quality due to accelerated, uncontrolled construction works. Buyers may inspect the actual property as much as they like before they make their buying decisions.

Town-Avenue-Cocos-Rama2-Soi50-townhouse_01_l

Town Avenue Cocos Rama 2 Soi 50

2. Be fully aware of your financial budget

To know the exact price of the property you want at the time you are ready to buy it gives you a chance to take better control of your financial budget. For example, if you’re buying from an unfinished project, by the time it is completed in the next two to three years, the interest rates are likely to be different from what you estimated in the first place.

3. More ‘irresistible’ deals than offered by projects not yet completed

Most ‘ready-to-move-in’ projects are more likely to have ‘better deals’ than those offered by projects which are not yet finished. This is because, by nature, when a project is completed, the developer or the owner of the project will want to sell their units as soon as possible. This market mechanism means that, in such scenarios, buyers have greater bargaining power. Therefore, we often found many ‘special’ privileges such as a free furniture set and a waiver of all transfer-day expenses. These privileges are usually designed to attract people with ‘real purchasing power’ at that time to make their buying decisions. They can reserve the units that they want and have the ownership transfers completed in no time. This is a big advantage. Because if you’re buying from a project not yet finished, you will have to first make a down payment and wait a long time until the construction is completed. Then, if you’re lucky, you may be offered some promotional deals to help alleviate your expenditure such as a 100% loan offer and a waiver of common fee for one to three years.

4. Clear comparison between competitive projects

Before making their buying decision, most property buyers always survey competitive projects in the same area to create a clear comparison, both in terms of prices and quality. In unfinished projects, buyers only get to see ‘show units’ with recreated environment, not the real one. Seeing only show units is not at all comparable to the opportunity to actually ‘experience’ it in projects which are fully completed. With ready-to-move-in projects, what you see is exactly what you get.

Tips : When inspecting the real unit, if you find any defect or anything you’re not happy with, you can request a repair or a replacement straightaway before you enter into the buying contract. 5. All infrastructure and utility systems are fully completed

Experience first what you will get. ‘Taken at actual site with simulated atmosphere’ is a phrase sounding all too familiar, which is often found in advertising documents promoting property projects, and many people can’t help but wonder if the project will actually look like what it does in the brochure when it is finished. Such ‘simulated graphics’ are often too good to be true and the actual outcome usually doesn’t live up to the promises they make. Buying ‘ready-to-move-in’ properties solve all these problems. Whatever property you are looking for, be it a house or a condominium, it’s always better to be able to see and experience the actual place before you make your buying decision.

Kanasiri-Chaiyaphruek-Wongwaen

Kanasiri Chaiyapruek - Wongwhan

6. No safety worries from ongoing construction

Some residential projects allow customers to move in even though their construction works are not yet 100% completed. This means that residents live side by side with construction workers and there can be problems that follow. For sure, residents will have to put up with noise and air pollution resulting from the ongoing construction. Security can also be easily compromised in such scenarios.

7. Buy it, and make money from it straightaway

This is undoubtedly a big plus about buying ‘ready-to-move-in’ properties, especially condominiums. No one wants to invest in a property only to have to wait a long time until it is completed and ready to earn income.

Dcondo-Campus-Resort-Bangna

D Condo Campus Resort Bangna

“The year 2015 should be a great year for property buyers, especially when many major developers are implementing the ‘completed’ before ‘sold’ approach for their projects. As explained above, as a consumer, you have at least 7 great benefits to enjoy. However, buying a property is always a big decision and it requires a lot of money. So, explore your options and do your comparison well beforehand and only make your buying decision when you’re absolutely confident about it.”

บทความโดย TerraBKK คลังความรู้ แปลและเรียบเรียงภาษา โดย www.sansiri.com