There’s an amazing way to lock in a lower price on a luxury condo in Baja Sur and Nick Fong reveals exactly how to do that: buy a pre-construction home. In this latest episode of The Nick Fong PODCAST, Nick meets with Scott Purcell to explain the pros and cons of doing just that.
Ronival Real Estate, founded and run by Nick Fong himself, has a team dedicated exclusively to new developments and the director of this division, Scott Purcell, will talk to you about all the advantages of buying a new home in one of these projects.
Now, read on to uncover the pros and cons of buying a pre-construction home in Baja Sur.
Perspective from Scott Purcell – Ronival’s Development Manager
Since about 33% of Ronival’s MLS inventory is new construction, mostly new development projects in Baja Sur, Scott Purcell’s role here is quite important. As such, Nick has brought him into this PODCAST to discuss what is happening right now with the many development projects with condos and penthouses currently for sale.
Now that other inventory is very low, these new development projects are meeting the needs of those who wish to invest in real estate in Cabo and throughout Baja Sur. On top of that, these developments under construction allow buyers to gain equity early, and at lower prices.
Imagine living in Loreto, La Paz, Cabo San Lucas or San Jose del Cabo in developments designed with your quality of life in mind? Then think about Rivieri Pueblo Mediterraneo, Laiva where there is only one beautiful penthouse available, Vistamar, Mantarraya Residences, Monteluna, Cenit Los Cabos, or Cuatrovientos.
All of them have spectacular amenities, incredible locations and, above all, the backing of developers and builders with several years of experience. The Ronival Real Estate team is dedicated exclusively to new developments and the director of this division, Scott Purcell, discusses all the advantages of buying a new home in one of these projects.
Advantages and disadvantages to buying pre-construction projects
An important item to look for with a development under construction is that it is on the move. To explain, it’s important that there are people on the construction site making progress. Also, who is the developer? If the developer has a strong reputation, you will be confident that the project will complete on time and at the highest standards.
As mentioned, developments that are being constructed allow you to purchase early at a lower price. That means, while the project is being completed, the value is constantly rising. By the time you move in, the value will be higher, sometimes much higher, than your purchase price. And the earlier you buy, the lower the purchase price.
Are there disadvantages? Of course, and that’s why we tell you which are the red flags you should pay attention to before investing your money. At Ronival Real Estate, we ensure that the developers have great reputations and that the contracts they use protect you just as much as they protect them – they are well balanced.
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Baja California Sur real estate
Many Americans, Canadians, and people from other countries choose to make Los Cabos and other magical towns in Baja California Sur, Mexico, their home or vacation home. Discover how to purchase your dream home in Baja. Make an appointment with the top Real Estate Broker in Baja: Nick Fong, featured on HGTV’s Beachfront Bargain Hunt.
Since 2010, Ronival has been helping clients find the best homes in Cabo and throughout Baja California Sur. And, they’re highly-skilled negotiators that’ll get you the best price. Whether you plan to buy a property or quickly sell your Baja real estate, they’ve got you covered!
If you’d like to take a tour of a property in Cabo or anywhere else in Baja California Sur, just click CONTACT to inquire. Or, call directly at 619-831-2000. Ronival will be happy to answer your questions You can also schedule a time to show you around this breathtaking location.