The primary benefits of investing in projects under construction in Miami It is that they offer the buyer the ability to make an investment with very little money and see how the capital gain of their property goes up as time goes by, without having any expenses, such as taxes and interest.
Every day the asset appreciates, especially if you invest in apartments in Miami that are located in up-and-coming neighborhoods. Some examples are Wynwood or the Miami Design District. There, due to construction, demand tends to increase.
Most developers are required by banks to pre-sell a certain percentage of the units before the bank lends them the money to start building.
This is the risk (and opportunity) when you buy a pre-construction condo. Most pre-construction condos require a 20% deposit when the developer begins construction. There is usually a down booking payment and the rest
10% when signing the contract. The final 10% is required when the developer starts the project.
We also show you “Reasons to invest in Miami“
When you bet on an apartment in preconstruction, you invest in the builder more than in the building. So that you can take the necessary precautions and plan well, research the trajectory and history of the builder and make sure that there are no taxes for the development of new construction in that place.
For more information for real estate investments in Miami, contact us!
