The demand for high-end luxury real estate is increasing the world over. However, the task of narrowing down on that perfect dream home can often turn onerous. It is crucial that your dream home matches your needs and preferences. One of the best ways to ensure your new home aligns with your dream blueprint is by purchasing a property in its new launch phase. Not only does this allow for plenty of customisation, but also puts you in the running to get your hands on your favourite space. As they say, the early bird gets the worm. 

What is Property’s New Launch Phase?

The terms new launch or pre-launch phase are pretty common in the real estate market. The term encapsulates property plans that have recently been conceived and are awaiting certain approvals before they can begin construction. This is one of the ways in which builders look to raise capital to complete the said project. Evidently, these properties make for great investment options, but at the same time, require you to be thorough in your research. The best way to go about this would be to look up the builder’s credentials, past projects, the location’s history, future prospects and so on. Once you’re through with that, purchasing a property in its new launch phase can be really beneficial. Here are some reasons why:

Claim the Pièce de Résistance

When you buy a property in its new launch phase, you can get your hands on the best unit they have to offer. It could be that sea-facing apartment on the highest floor, or a villa with a seaside view, that will spruce up your living experience exponentially. Apart from that, you can further pick what amenities you want your home to be close to – such as the clubhouse, gym, swimming pool, grocery store, health centre and so on. Builder’s generally release their best slots during the new launch phase and it’s an opportunity worth making the best of.

Customisation and Features

You might want a tub in your attached bathroom, an extra closet in the bedroom or a larger balcony to accommodate your precious coffee table; booking a property during its new launch phase can help you revamp your space the way you want. If you have a theme in mind for the interior decoration or layout, want to make changes to the structure, or want to add an extra bedroom, chances are that you will be able to do it. The joy of seeing the home that you have envisioned come together is incomparable.

A Smarter Investment Choice

There is a possibility that the newly launched property is located in a developing location or in the urban suburbs. In the past few years, large residential enclaves and gated communities in the urban suburbs are becoming more frequent. The overcrowding of cities has also pushed a large number of millennials to invest in these spaces that make for a more peaceful home. This has led to prices of properties in the urban suburbs and other remote, developing locations rising exponentially over time, making them a great opportunity for investment. This can be really beneficial, especially if you are looking to buy a holiday home or a secondary property somewhere on the outskirts.

Getting the Best Prices

The prices of a project in its new launch phase are comparatively lower than what they would be once it’s open to the market. This can be useful, especially if you are looking to really retouch your future home. You get to add in all your preferred modifications and still keep it within your budget. Apart from that, the probable rise in future prices is another reason why they make for great investment opportunities.

You may also like to read our blog post on the additional costs to consider when buying a luxury home and how to choose furniture for your new home.