Three ways to save money buying off plan property in Barbados

1. Get in early.

In the current market, most loans given to developers have some pre-sales component to them. This simply means that the developer has to reach certain sales milestones throughout the project to get their next stage of money from the bank to continue building. Getting in early on an off plan development can save you 20% or more off of the developer’s list price because the developer is usually eager to reach a milestone set by the bank.

2. Bring a friend.

The only thing a developer loves more than a sale is two sales. If you know of a colleague, friend or family member that may be interested in the same development, approach the developer together, and you can almost always negotiate a further discount.

3. Cash is King.

If you don’t need financing to make your purchase, you have room to negotiate an even further discount. Developers love cash, and if you are comfortable with the developer, negotiating a large cash down payment gives you the bargaining power to get your sales price further reduced.