Pre Selling VS Ready for Occupancy Units: Which One Is Right for You?

November 24, 2020 | Megaworld Manila Asian family buy new house

Which one should you choose between pre-selling and ready for occupancy units?

  1. Construction Status
  2. Pricing
  3. Payment Terms
  4. Unit Choices

 

As populations rapidly grow and real estate developers continue to build more properties, people are starting to consider owning condominiums. While residing in a house and lot property is never a bad thing, the top condos in the Philippines offer a plethora of attractive advantages. Among the said advantages, the most enjoyed by residents are access to premium amenities, strategic location, and low maintenance.

When it comes to buying a condominium, choosing between a pre-selling or a ready for occupancy unit is a crucial decision you’ll have to make. You are only a few steps away from reaping the benefits of condo living. You must weigh your options properly.

It can be overwhelming to be faced with such an important decision. But don’t fret! Here is a simple article on how to compare a pre-selling unit with a ready for occupancy unit. Read on to find out which one will suit your needs best.

 

Construction Status

Apartment buildings under construction. Tower cranes on blue sky copy space background.

Arguably, the main distinction between the two choices involves construction status. A pre-selling condo is currently being built. In most cases, there is no groundbreaking yet and the developers would only have an initial construction masterplan.

On the other hand, a ready for occupancy unit is already built. Once you complete the necessary paperwork, it will be waiting for you to move in. A ready for occupancy is ideal for people who are eager to move in immediately.

 

Pricing

Pre-selling units typically have low introductory prices. In addition, buyers are even more attracted to invest in pre-selling condominiums because of the additional discounts provided.

Given that the building is still under construction or construction has not started at all, pre-selling units are cheaper compared to ready for occupancy units. In fact, some condominium developers offer low to even zero down payments.

For example, Megaworld Manila has promos for pre-selling units with a 5% discount on the total contract price and no down payment. That’s a significant amount of savings!

A ready for occupancy unit is more expensive because the value would have likely appreciated. Furthermore, you will have to pay for the advantage of not waiting for the completion date. Everything from the top-notch amenities to the units is ready to welcome residents.

If you have a budget in mind, you might want to consider purchasing a pre-selling because the original price can be cut down more. Aside from that, you will be offered flexible payment schemes too.

 

Payment Terms

Hands of woman pushing calculator for calculating a loan credit

Naturally, it is much easier to work around a limited budget with a pre-selling unit. In an attempt to attract potential buyers, condominium developers will typically offer flexible payment terms.

Others even offer to let you pay the remaining balance upon turnover, while some provide choices for monthly installments that can be paid up to 5 years at zero interest rates.

Besides, pre-selling units have a wide variety of payment options such as bank financing and in-house financing. Naturally, a great developer like Megaworld Manila will make your life easier. Invest in any condominium and we can suggest the ones with the best payment schemes.

On the other hand, ready for occupancy units can easily break the bank because you will not have the luxury to save up. Most of the time, a spot cash full payment will be required.

 

Unit Choices

For pre-selling units, you have the freedom to choose the best unit type that will suit your needs. Since the building is still under construction, there is a big chance that numerous floors and units are not yet sold.

If you want that unit in Gentry Manor that has the best view of the Manila Bay sunset, you will never have to worry about competing with other buyers.

Do you want to take delight in opulent infinity pools or maybe fully-equipped gyms? Pre-selling condominiums will typically have the latest upgraded amenities. In addition, you can request for unit customizations. The developers can easily adjust the design of your chosen unit because it’s still under construction.

On the other hand, ready for occupancy condominiums would likely have units that are left unsold during the pre-selling period. You won’t have much of a choice with regards to location because the most stunning units would probably be sold already.

However, the biggest benefit of a ready for occupancy unit is that you get to inspect the entire building. This will allow you to decide if you like living in the unit before committing to buy.

 

Key Takeaway

When it comes to buying a condominium, you’ll have to decide between pre-selling vs ready for occupancy units. Remember that each type has its pros and cons.

Regardless of which one you choose, purchasing from reliable real estate developers is the best way to minimize mishaps. At Megaworld Manila, we would be more than happy to guide you in getting the most out of your investment.

Click here to contact us today!