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What to consider when purchasing a new construction condo project?
1) Usually 20% is due up front and the remaining 80% is due when complete. It usually takes about 3 years to build a condo in Hawaii. 2) Usually you have to pay the conveyance tax on new projects from the developers and again as a seller when you resell. 3) Having an agent represent you on the purchase doesn’t cost you a thing and it’s a good idea to have an extra set of eyes so you can pick the right unit and make sure everything goes smoothly.
There are always new projects going up in Honolulu so if you are looking for an investment property or a place to live in the future, reach out to get in the front of the line with the best possible pricing.
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By Ben Fieman1) Usually 20% is due up front and the remaining 80% is due when complete. It usually takes about 3 years to build a condo in Hawaii. 2) Usually you have to pay the conveyance tax on new projects from the developers and again as a seller when you resell. 3) Having an agent represent you on the purchase doesn’t cost you a thing and it’s a good idea to have an extra set of eyes so you can pick the right unit and make sure everything goes smoothly.
There are always new projects going up in Honolulu so if you are looking for an investment property or a place to live in the future, reach out to get in the front of the line with the best possible pricing.