The real estate market is one of the largest sectors that control the movement of the economy in every country. Contrary to what it may seem to some, the real estate sector contains many details and factors that must be considered and studied, whether you are a customer looking for real estate or an investor who wants to expand your business.
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What is real estate and property management and how can you benefit from it
Before entering into the details of the advantages and disadvantages of each of the primary selling or resale, let us initially put a simplified explanation and definition of each of them.
What is primary selling?
Quite simply, primary selling is when the customer or investor buys the property directly from the developing company of the project or through real estate marketing companies that represent and on behalf of the project developer. Thus, the customer becomes the first owner of the property.
What is resale selling?
As for resale, it is when you buy your unit from individuals or the first owner of the property who bought it from the developer before. And thus you will not be the first owner or inhabitant of the property.
Advantages and disadvantages of both resale and primary selling
You, as a customer, when searching for a house for housing or a real estate unit for investment, your greatest concern is to find what you are looking for at a reasonable price. Therefore, before you invest or buy any property, you must first determine your complete needs and strive to set an approximate budget for the amount that you will pay or install.
Advantages and disadvantages of direct selling
First, let’s start with the advantages that you can enjoy when you buy directly from the real estate developer
Buying from the developer gives you the freedom to choose your real estate unit at any location in the project
Payment and installment plans are attractive and varied, providing you with an opportunity to develop a financial plan that suits you
You can control the finishing of your home because you receive it mostly on the clamshell or semi-finished.
If you choose a strong real estate developer, you will enjoy a wide range of luxurious services and facilities within the projects, such as (subscriptions to clubs, sports, and entertainment facilities)
Disadvantages of direct purchase from real estate development companies
If you deal with a real estate development company, you will find yourself limited to choosing between the company’s group of projects only
Majority of the time the projects and units offered are under construction, so you will not be able to view the unit on the ground
Delivery within a time ranging from 2 to 4 years
Mostly the units are on core & shell or semi-finished, which means extra effort and cost
Advantages and disadvantages of resale
First, the advantages of buying from the real estate resale market
The biggest advantage is the ability to receive the unit and move immediately once contracts are signed
You will be able to view and inspect the property or unit on the ground, which helps you to decide your position.
You can get a special deal that some units are offered at unprecedentedly competitive prices due to the owner’s desire to travel, immediate relocation, or other reasons.
In most cases, the units in the resale are fully finished, given that they were previously inhabited, but they may cost you some amounts for modifications or changes.
Secondly, the disadvantages of buying from the resale market in real estate You can easily lose your deal if you slow down in decision-making, as in most cases one unit is at stake and the competition is high
It is possible to be deceived if you are not sufficiently aware of the real estate market prices and did not seek the assistance of an expert to inspect and evaluate the price
The negotiation process can be long because the real estate owner will search for the best offer to make profits
Most of the time, the owner of the unit wants the customer to pay cash, and if there is an opportunity for installments, it will be over a short period, not like the extensions offered by real estate development companies.
What is better, buying directly from a developer or buying a property from a resale?
We cannot answer this question definitively and directly, because this choice is ultimately up to the customer, as they are the only ones who can determine the best property.
Therefore, we always recommend staying open to different options and looking for a real estate agent on the market who will listen to you and find you the property you want, whether from a developer or a property owner.
In our offer you will find properties from auctions and buyouts.