Getting the Edge with Real Estate Pre-Construction Investments
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Real estate may be all about location, but real estate investment is also about timing and when both work in your favor, you can be in control on a beautiful property in any market
At that time, the primary pre-construction investment advantage were that you can generally purchase a property at a lower price than if you were to wait until after the project breaks ground.
Of course, once construction was underway, popular locations and properties brought an influx of new investors or homeowners who drove prices up.
During a pre-construction investment move, you will also have the chance to also to choose among premium properties, whereas later future homebuyers can choose only from among the less desirable properties.
What about pre-construction in today's climate.
It doesn't matter if you are working in Maryland or Miami Beach. .
The opportunities are still there and a lot of people are now looking back at these types of investments that could potentially produce thousands of dollars for the buyer
Where to Buy?
Real estate is all about location, so when considering a pre-construction investment, it's important to first find a place where there is high demand for short-term housing. In the United States, Miami Florida, is one of the best places to invest based on my experience. in our local area, any place around high demand housing like Georgetown DC, Bethesda Maryland, condo that are walking distance to the Metro are ideal places to look for those opportunities.
Pre-construction investments are not always new construction, there maybe an opportunity for a condo conversion for an apartment building somewhere up therefor you.. .finding the right experienced real estate agent to work with you should give you that extra edge.
Savvy investors and savvy buyers need to consider all angles before purchasing. .specially if they want to maximize the return on their investment
Fernando Herboso is a broker and manager for Maxus Realty Group/ Herboso & Associates in MD-DC and Virginia 301-246-0001