If you are looking for a property, you must know the status of the property and what its advantages and disadvantages.
These are the reasons why its better to get a pre-selling property rather than Ready For Occupancy.
Advantages of Buying Pre-Selling Houses:
1. You’re assured you’re buying the cheapest price
2. You can choose the best location available inside the subdivision
3. The equity is affordable because its payable long term
4. You can monitor the quality of construction from time to time.
I’d rather wait for 2 years and up so long as I love what I’m buying for the rest of my life
Disadvantages of Buying Pre-Selling Houses:
1. You need to wait until the property will be delivered.
2. Assuming you are currently renting, since you cannot stay to your chosen house your monthly rental where you are currently staying and the monthly equity for your house and lot will sum up.
Advantages of Buying Ready For Occupancy:
1. The house is already there, you just need to wait 2 to 3 months for it to be delivered.
2. You can save up your monthly rent assuming you are currently renting.
Disadvantages of Buying Ready For Occupancy:
1. The monthly equity is short term, you need to pay on bulk basis instead.
2. You need to fully pay or exceed 50% of your equity before the house will be delivered to you.
3. Once the property is being equity most of the time your monthly “amortization” and monthly equity will sum up.
4. You cannot pick the best unit, because most of the ready for occupancy units are being re-opened (Meaning someone has cancelled or backed out)