Is Buying Off-plan The Best Choice In Cape Verde?
Off Plan refers to when a homebuyer commits to purchasing a home before it is built or during the construction process
. When the home is completed, the homebuyer can then move in.There are many different types of off-plan property in Cape Verde, and it is up to you whether an off-plan property is the best choice for you. Here are some of the advantages and disadvantages of this type of property:
Advantages:
Investment: With an off plan Cape Verde property, you will be purchasing relatively early in the construction phase. This is an advantage when it comes to gaining a return on your investment because most off-plan properties are set below the market value to attract investments. In some cases, homebuyers resell the property even before it is completed and make a good profit.
First choice The earlier you purchase the more choice you have when it comes to location, views, and other important details.
Newer Building There are plenty of advantages of purchasing a new Cape Verde property, especially because most new buildings have a 10 year guarantee. You also can personalize and customize the property the way you wish, and some developers will even allow you to select the fittings such as lights, carpet and dishwasher, in your new home.
Disadvantages
A Long Wait When buying property for sale in Cape Verde off plan, you will have to wait for the property to be constructed before you can move in. This can take anywhere from months to years, and some people find it difficult to wait this long.
The Finished Product It is difficult to visual exactly what a property will look like from a plan, so many people find that they would rather see the house after it is built to be sure that they are getting what they want.
Possible change During the time it takes to build the new property, the area around it could change and potentially become less desirable.
Bankruptcy There is always a risk that the constructor could go bankrupt after you have paid for the property for sale in Cape Verde but before it has been completed. However, this can be avoided by choosing companies who have a good reputation and making sure that insurance is included in the negotiation
If you are thinking of investing in a property in Cape Verde, you may be considering whether to buy a home from a developer off plan, or to buy a second hand home.
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