Reasons to Purchase Pre-Construction

1. Pre-Construction Condo sales are climbing faster than other commodities
2. Rents are at an all time high
3. Buyers  are looking at condos  as they  have been sidelined by price of semi and detached homes
4. Lending guidelines have become stricter, so people are renting longer
5. Growing population from immigration who will rent once they arrive in Canada, makes the rental business quite lucrative
6. Lower financial burden versus a detached home
7. Down payment not overwhelming as it is broken down to payments till occupancy
8. Lower financial bar to enter real estate market
9. Appreciation on pre-construction projects is a major draw
10. By purchasing early buyers and investors benefit from market appreciation and platinum or VIP price appreciation which is achieved when developers increase prices during launch
11. Pre-Construction is an attractive option in that they usually offer an oppurtunity to purchase a unit at a lower price than will be available at the time of occupancy
12. Financial burden is little to nothing after tenant moves in

Pre-Construction VS Resale Condo

Pre-Construction Condo -                                                              

  Can Purchase at a lower rate than when built                                                                              

 Closing costs are 1% - 4% of purchase price                                                                 

 Down payment is spread over a period of years                

 You can save over a period of time for mortgage                                                             

 Brand new unit and ability to customize                                                                        

 Long term Investment                                                               

 Bulk of appreciation is earned before it is built

 Completely hassle free

 Essentially zero expenses, closing costs and headaches

 while the investment is appreciating                                                                                                                  

 Resale Condo -      

 You need down payment readily available                                                      

 You have to qualify for a mortgage immediately                                            

 You can move in soon                                                  

 Older unit                                                 

  No HST                                             

 Immediate return through rental

Pre-Construction Purchase Process

1. Register for a project or area you are interested in (contact me for projects and price list)

2. Submit a preliminary worksheet once you have made a selection

3. Submit floor plan choices

4. Wait for allocation

5.Execute agreement of purchase and sale and enter 10 day cooling off period

6. Lawyer review and delivery of  Deposit

7. Mortgage pre-approval

8. Wait for occupancy