Nothing can be more exciting than being able to pay for and move to your brand new apartment or house. This event can really be a turning point in your life since after years and years of hard work, you now have a tangible proof that all the time, effort and sweat you put in your work has been rewarded. And you will certainly feel a certain sense of pride and accomplishment every time you go home to your new property.
But in addition to investing in ready-to-move-in or already built and completed properties, many people are also choosing to capitalize on ones that are still under construction or development. Of course, the main disadvantage of investing in this particular type of property is that you don’t get to move in immediately to this apartment or house. You need to wait for several months or even at least a year or two before the whole property or building is completed and it is safe and ready for occupation. So if you need to move to a new apartment or house in Perth immediately, this is not a good option for you.
What You Can Gain From Investing In A Property Still Under Development
However, investing in one of the properties under development in Perth also offers several advantages. And below are some of them:
1. You have more options. If you’re looking to invest in a house, you can choose between a single or two-storied one. You also have the choice as to which particular area in the neighbourhood you want to permanently live in. If you want an apartment, you also have a choice about which floor you want your flat to be located in, how many rooms you want it to have, etc. Of courses, these properties under development also use and live by the “First-come, first-served” principle or basis so if someone else beat you to your initial preference or choice, you need to go with the next best one.
2. You will find the payment terms more convenient and to your liking. You can get a home loan for paying for a property that is still under development. The down payment for such a property also tends to be quite low and really affordable and you will find the monthly payments reasonable as well.
3. There is a good possibility for a price increase. In case you want to invest in a property under development to rent out or sell in the future, you can expect an increase or appreciation in the value of this property. As such, you will gain some profits in addition to your ROIs.
Source:
But in addition to investing in ready-to-move-in or already built and completed properties, many people are also choosing to capitalize on ones that are still under construction or development. Of course, the main disadvantage of investing in this particular type of property is that you don’t get to move in immediately to this apartment or house. You need to wait for several months or even at least a year or two before the whole property or building is completed and it is safe and ready for occupation. So if you need to move to a new apartment or house in Perth immediately, this is not a good option for you.
What You Can Gain From Investing In A Property Still Under Development
However, investing in one of the properties under development in Perth also offers several advantages. And below are some of them:
1. You have more options. If you’re looking to invest in a house, you can choose between a single or two-storied one. You also have the choice as to which particular area in the neighbourhood you want to permanently live in. If you want an apartment, you also have a choice about which floor you want your flat to be located in, how many rooms you want it to have, etc. Of courses, these properties under development also use and live by the “First-come, first-served” principle or basis so if someone else beat you to your initial preference or choice, you need to go with the next best one.
2. You will find the payment terms more convenient and to your liking. You can get a home loan for paying for a property that is still under development. The down payment for such a property also tends to be quite low and really affordable and you will find the monthly payments reasonable as well.
3. There is a good possibility for a price increase. In case you want to invest in a property under development to rent out or sell in the future, you can expect an increase or appreciation in the value of this property. As such, you will gain some profits in addition to your ROIs.
Source:
http://reiwa.com.au/New-Developments/Pages/New-apartments.aspx is a great online source for articles and updates about the real estate industry in Perth and Western Australia.
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