WHY BUY ON INSTALLMENT OR
REDUCES THE FINANCIAL BURDEN ON THE BUYER.
Buying an off-plan property reduces the burden on the buyer's finances. After paying the initial down payment (50%), the buyer has enough time to save up more money for the next payments while the project is under construction. This distribution of payments over a period of 5 to 10 months allows the buyer to avoid looking for large lump-sum amount to pay for the whole project.
INTEREST FREE MORTGAGE
An off-plan purchase means once the buyer puts down the initial deposit (50%) they can now benefit from spreading the remaining purchase price over several months in the future and without the need for the buyer to arrange for an expensive lump sum mortgage through a bank. Typical interest rates in Gambia are at 18% to 22%, thus the buyer benefits greatly from spreading his payments into the future without having to pay any interest payments to any bank.
STRONG CAPITAL GROWTH
Paying today’s prices for a property that will be completed 12 months in the future is financially profitable, as it’s more than likely that the property will start going up in value even before it's completion, this applies particularly well to new and up coming areas like Latriya in the Gambia. Therefore off-plan property often yields higher returns on investment, which may be significant if you buy a property in upcoming areas like our Mini Estate Project at Latriya which is located on the new highway.
BRAND NEW PROPERTY
The buyer will acquire a brand new property which has not been used by anyone, so not buying into any existing maintenance problems, as could be the case if you buy an older used property.