Often when choosing an apartment in a new building, the price is the decisive factor. First of all, it depends on the stage of construction of the house.
The specialists of the JBL Developers will tell you about the advantages and disadvantages of each stage, and how the pricing policy changes at the same time.
“On average, the construction of a residential building takes about 2 years. The first and very important step is to obtain the developer of all the necessary documents and permits. Only after that, he has the right to officially announce the start of sales and begin the registration of preschool education.
The cost “on the pit” differs from the option at the final stage by an average of 30-40%. Also, the pricing policy is influenced by other important factors, such as location, transport accessibility, features of the housing estate and the development of social infrastructure.“ reveals the JBL developers.
Zero stage or stage “in the pit”
✅ Advantages: low price, large selection of apartments.
⛔ Disadvantages: settlement in a few years, there is a risk of failure to meet the deadline.
The zero stage of construction, the so-called “on the pit”, is considered the most profitable for the purchase in terms of price. The undoubted advantage of this stage is the large selection of apartments, because the developer still has almost the entire pool in stock.
Thus, it is possible to choose a suitable option not only for many basic criteria, such as layout, floor, view, but also for the unique characteristics of the apartment: terraces, bathrooms with a window, high ceilings, private saunas, two balconies, etc.
Intermediate stages
✅ Advantages: still affordable price, the ability to assess the progress of construction and the quality of work.
⛔ Disadvantages: you need to wait at least another year for readiness, the choice of available apartments is significantly reduced.
At the second stage of construction, the construction of buildings begins. Floors, walls, ceilings, windows appear. Apartments rise in price by 10-15%.
Of the advantages of buying at this stage, one can single out the opportunity to assess the progress of work and the compliance of the construction progress with the stated deadlines. The next step is to connect the house to utilities and interior decoration. Accordingly, the cost increases again and approaches the final price per square meter.
The final stage
✅ Advantages: the ability to almost immediately call into the apartment or rent it out, as well as actually assess the quality of the house construction and landscaping.
⛔Disadvantages: high cost.
The final stage is the improvement of the territory and obtaining permission to put the house into operation.
It should be noted that the price increase depends not only on the dynamics of construction, but also on the level of demand and the general economic situation. However, one thing is absolutely certain – the price is steadily moving up.
Let’s summarize
At what stage of construction to purchase housing depends on the needs of the shareholder. Buying at the “excavation” stage will allow you to significantly win in price and choose the most interesting option from the full range. At the same time, you will have to sacrifice time and postpone the move for a couple of years – until the end of construction.
The intermediate stage is good because the price did not reach the highest mark, the completion date of the object is in the foreseeable future, and the residential quarter has already acquired tangible forms. In addition, you can make good money on price changes if you invest at the initial or intermediate stage of construction with the aim of further sale.
Buying an apartment at a high stage of completion also has its advantages. This is an opportunity to move into finished housing almost immediately, bypassing additional rental costs during the construction period. This option is also good for those who plan to cover their mortgage payments by renting out a new apartment. Visit https://finestservices.com.sg/the-commodore/ and know about the Commodore condo launch. Another option is to register your number on the Commodore website and get all the details on your phone.
