Best Price Ranges For Pre-construction Condos
I have come across a pre-con sale where a 2200 sq.ft oceanfront unit sells for $1.3M in Alabama/Florida panhandle area. I am pondering now whether it would be a good investment in terms of selling the contract 6-9 months later (or a little longer). Will there be folks willing to potentially pay $1.4M+ for this condo? Can anyone share their own experiences with me?
Thats about 600 a square foot. Seems alittle high for preconstruction. There are alot of condos on the market that are less than that. More importantly there seems to be alot more buyers in the $700,000 and under price range.
Could you close on the unit if you where not able to flip? I never get into a precon i cannot afford to close on.