Are you thinking of purchasing a home away from home? If open spaces, warm sunshine, and cool ocean breezes are what you’re looking for, Phase 4 of The Crane Private Residences in Barbados may be your perfect match. This final oceanview phase of the development is in pre-construction, offering great advantages to astute investors who purchase now rather than later. Here are 4 reasons why you should consider buying property in the pre-construction phase:
Pre-construction Prices
When you purchase real estate in the pre-construction phase, you have increased flexibility to secure your chosen residence at a lower launch price. Developers typically set and adjust prices based on sales activity and as a project gains momentum and availability wanes, these tend to increase. Purchasing your residence off-plan, locks in the best pre-construction prices and if in the future you choose to sell your residence you will very likely realise capital gains.
Pro-tip: In Barbados, capital gains are not subject to tax.
Staged Payments based on Construction Milestones
The Crane Private Residences offers potential buyers the flexibility of staged payments based on milestones throughout the construction period. This gives owners the security of investing in the property with an initial 20% Deposit and then in equal amounts as each milestone is achieved i.e., Foundation, Structure, Watertight, and Practical Completion. This gives you the ability and time to secure additional or alternative funding sources. You do not have to think about a lump sum investment and can achieve your dream of second-home ownership in more manageable tranches.
Widest Availability
Buying in the pre-construction phase allows buyers to secure the residence that perfectly meets their needs, in addition to their desired floor. By selecting your unit before other buyers invest, you set yourself apart. Later buyers may sometimes have to settle for what remains rather than what they initially dreamed of.
Homeowner Customization
In contrast to a move-in-ready property, where the structure and interiors have already been completed, a pre-construction property offers you the opportunity to influence the design of your space. You also can select a residence that is easily accessible, in a fantastic location within a community, and with your ideal choice of view.
Pre-construction prices in Phase 4 of The Crane Private Residences range from US$352,000 – US$1.7M. For more information on availability, contact property@thecrane.com or call + 1 246 416 6560.