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Pre-construction is your best option when looking for a permanent home in an exotic location or high quality vacation rentals.

Any idea what pre-construction is? Pre-construction is actually a condo or home that hasn’t been built but is in the planning stages. The buyer purchases the home from the developer or builder-owner.

But how do you decide what to buy if it doesn’t exist yet? That’s easy! The builder will have detailed blueprints for you to look over, as well as, usually, a model of the building. This gives potential buyers a pretty good idea of what they are getting into. It’s also possible than an already built structure that’s similar to the one you want is available. As for the builders quality, you’ll also be getting a pretty good idea. You may not be able to see the actual building, but as long as builder is reliable, then don’t worry about buying pre-construction. Doing a little research to find out what they’ve done in the past is also a good idea. To asses their level of satisfaction, you can talk to an owner about something else they’ve built. Don’t worry if that’s not possible because a qualified agent will be familiar with local builders.

As for legal details, a qualified agent can help you sort them all out. Getting a written documentation that’s been signed and states when the structure will be completed and what will be completed is important. You can also find out if there’s a home warranty. It might be better if there’s an “out” for you in case the finished product isn’t what you understood it to be or if it’s been greatly delayed.

When it comes to pre-construction, one of the great things is price. Pre-construction real estate hasn’t realized their full potential which is why they’re often priced lower than what they will be in the future. You, as a buyer, know that the property can only go up in value. After all, the home built will be brand new. Ensuring that it’s not a declining market and doing plenty of research on location, the builder, and type of home, pre-construction is really a good option.

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