Advantages of buying READY FOR OCCUPANCY (RFO) Condo HomeSeptember 19, 2022
Investing in your own home can be a rewarding experience, as well as a financial one, and you need to consider the advantages of buying ready-for-occupancy condo homes.
Choosing between pre-selling and RFO condos can be a confusing process. Both offer their own benefits and downsides, which is why it’s important to know what you’re looking for in a new home. Buying an RFO condo unit is a great way to find your dream home without having to wait years for it to be built. Unlike pre-selling, where you must wait years before your property is finished. With RFO, these are ready to go immediately.
We’ll walk through both types of condo ownership and explain how they differ.
- The most obvious benefit of buying an RFO condo unit is that you can move in immediately. This is the best option for people who want to get in and settle down quickly or those who want to save money from buying a pre-construction property before it’s finished. You still get a High-quality, fully finished condo home. Unlike pre-selling, where you must wait years before your property is finished. RFO condo home will allow you to move in asap.
- There is no greater peace of mind than knowing you got an actual unit for sale with a real estate agent on site. Our sales team will show you the unit and walk you through each room in great detail, so you get a good idea of what to expect. If the condo you’re looking at looks like something that’s too big or too small for your needs, we can find you a different property that better suits your needs. Having the ability to see it firsthand allows you to ask questions and get acquainted with it before you buy. You can also easily ask if the condo you are considering accepts pets. And finally, having this element of security will help you feel confident in your decision.
- RFO condos have a long list of advantages over traditional condos, including lower maintenance fees, smaller monthly payments, and no mortgage. Most also offer ownership as well as rent-to-own payment schemes and attractive resale value. Rent-to-Own buyers are more likely to complete the full purchase if they can move in immediately. These buyers do not have to go through a lengthy pre-sale period, which can be stressful and costly. Many developers offer rent-to-own payment schemes. This allows a buyer to make a down payment prior to moving in and then complete monthly payments similar to paying rent.
Most pre-selling condos are pretty expensive, but you can usually find a more economical Ready for Occupancy (RFO) unit for much less money. When you’re shopping for a new condo home, having the opportunity to see what’s out there and submitting offers on both pre-selling condos and RFO units is a great way to make your decision easier. With an RFO unit, there are many extras at no extra cost. You will also be able to enjoy a great deal of freedom with the choice of structure, location, and size of your new condo unit.
Allow us to assist you in finding your next condo home. Get in touch with our friendly and professional Property Specialists, and we would be glad to show you our Ready for Occupancy condo homes.