Buying Pre-Construction: Top 5 Advantages to Investing
New home and new home construction have been a large part of people’s focus in the housing market. If you live in a gated community like Savannah Weston you’re probably familiar with most of the architecture, it is the Mediterranean it is dated and it is just not what people want anymore. So what Botaniko Weston has done is they’ve created a gated community of new homes.
Modern construction cost around $150 per square foot or more and the only way you can get below that is by operating at economies of scale. So the community of Botaniko Weston has created beautiful homes designed by world-class architects and built with the finest materials below normally what would be the per square foot cost of construction of a single-family unit.
These houses have three-car garages and they have a lot of terrace spaces with areas ranging from 4, 000 sqft interior space and three-car garages and bedrooms ranging from three to six bedrooms. So the new architecture and preconstruction at Botaniko Weston have provided an upgrade to the residences one can buy within this community.
The economies of scale at which large gated communities like Botaniko Weston are built are much larger than an individual would incur in the construction of an individual single-family unit.
The houses have a contemporary architecture under a modern open floor plan. This allows freedom of movement in the house as you’d expect in this modern digital age where people tend to migrate in open spaces rather than staying in the living room or the kitchen they want to live in a unified space.
With new construction, you also get to enjoy more modern living trends like outside-in where the house is integrated with your lawn and you can enjoy an alfresco dining experience.
Pros of buying into a pre-construction
You have a say in the projects
In pre-construction, you have a say in the design plan or at least in the floor plan you can choose between multiple options. You can also customize certain elements such as the appliances you want; the kind of finishing you want including the flooring. With this in mind, you can customize the design of your house to your specifications
Value per square foot
Large gated communities like Botaniko Weston operate on economies of scale where the developers can produce a house at a much cheaper rate than if an individual was to do it so should buy into a project like this you will get more value per square foot meaning an area of similar square foot would cost more than what you’d pay for yours at Botaniko Weston.
Time to save
Pre-construction projects take time to complete giving you time to pay up in installments as the project proceeds. The deposits are also usually lower than for complete and pre-used houses.
These deposits of between 15 and 20% are usually spread out and can extend at between 18 and 24 months so not having to put down 20% upfront allows future buyers to save up or even use a line of credit that is spread out and has less impact on their cash flows.
This also extends to the construction. Pre-construction let’s say it takes three to five years to build, then the homeowner can save up for these three to five years before getting a mortgage that would be significantly lower because they’ve been saving up during this period.
And because these houses are new, you might end up paying less than you would for a resale value considering factors like closing costs that would be higher for a resale unit if you want to add up a home inspection and appraisal fees.
You get a brand new house
There are many advantages of getting a new house, first of all as we had mentioned in the introduction, you get a home that is more applicable to the current living trends including that it will be more energy efficient have better amenities than their resale counterparts.
Lower cost of ownership in the long run
New constructions like Botaniko Weston will provide you with a long life of service before you need to carry out any maintenance because the materials are new and will take a long time before they deteriorate and require replacement or maintenance. What this means is you require less long-term budgeting for any modifications, renovations, repair, and maintenance of our new home than of a resale home.
So those are our five advantages of why you should consider buying pre-construction and we hope this blog was helpful.