Benefits of buying construction projects n in Panama

When buying a property, we inevitably have a question: in Panama, should it be better to buy a property already built or an apartment under construction? The answer is simple: if you have time and don’t need to move immediately, buying an apartment under construction is the best option. In this article, we will tell you why this type of sale is popular and what are the benefits it offers.

In Panama you will find a large number of buildings under construction that have their apartments for sale. Many construction companies, with the intention of being able to finance their projects more easily, put apartments for sale in the construction phase. Although they are not 100% finished, they have their plans approved and usually have an estimated delivery date.

For investors or for those buyers who do not have the need to move urgently, this is an opportunity for several reasons:

The sale price (in some cases) is lower:

With a good negotiation in advance, apartments under construction can sometimes represent savings of up to 15% over the final sales price of a finished unit. Not only will you be saving that huge amount of money, but when the building is finished, your apartment will likely have a greater value.

Flexibility in financing:

To buy apartments under construction it is not necessary, as in the case of finished properties, to have all the money or even the deposit money together. With just a percentage of the total price you can reserve your apartment. This percentage will vary depending on the construction company, but it is usually between 5 to 20%.

In some real estate fairs, you can even reserve your apartment with a much lower amount, as long as there is a payment plan for the rest of the deposit.

The remaining amount of the deposit can be paid in a monthly basis. You even have the possibility of making extraordinary payments to reduce the remaining amount of the total price. Most of the companies, by means of agreements, allow to adjust the payment plan to the possibilities of the buyers.

More choices:

When buying an apartment in a building under construction, you have the advantage that there are many units available. This gives you the possibility to choose the floor, the location of the apartment, the orientation you prefer, the view, etc.

In addition, by arriving before the other buyers, you will have the possibility of buying a garage space in the building, which in the city is often scarce, and apartments with exclusive terraces, if the construction company offers it.

New property:

When buying a property under construction you know that all its facilities are new. For many years you will not have to worry about making repairs, and the builder offers a warranty for certain parts of the real estate unit for some time.

Customizing the apartment:

As the property is not completely finished, some construction companies offer the possibility to buyers, to choose some details and finishes; for example, the color of cabinets or interior paint.

Buying an apartment under construction in Panama has great benefits. Before booking, you should ask about the delivery date of the project and it is convenient that you visit the project, its model apartment, and even buildings that have been made by the same construction or developer company.

If you wish to receive information about apartments under construction in Panama, at Panama Realty Zone we are happy to help you!