Investing in Pre-Construction Condos in Toronto
In this guide, you’ll learn how to invest in pre-construction condos in Toronto to get the most out of your money and time from expert Realtor Pierre Carapetian. If you have questions about why pre-constructions are some of the hottest investments in Toronto today, or if you’re wondering how real estate can outpace other types of investments, you’ll learn it all with this guide to pre-construction condos in Toronto.
In addition to investment-related questions, Pierre will also explain how a typical pre-construction timeline works, such as when to buy a unit and how to get the largest return on your pre-construction investment. Real estate can be complicated, and it doesn’t get any easier in the larger markets such as Toronto.
Let Pierre guide you through the tough real estate market, including what you should be on the lookout for. After all, a bad investment can take years to overcome, and it could also mean that you lose out on more investment opportunities while you’re cleaning up the mess.
How To Invest in Pre-Construction Condos
While it can be tempting to invest in the first preconstruction you come across, it can actually be better to invest in a builder, not a building. By investing in reputable builders, you’ll be investing in pre-construction condos in Toronto that won’t be saddled with delays and other problems that could tie up your money.
Luckily, the pre-construction market also permits you to change your mind in 10 days, part of a so-called “cooling off” period, which gives you 10 days to research a purchase after buying. At this time, pre-construction buyers should have a lawyer closely analyze the agreement of purchase and make sure your financing is in place, amongst other things.
Don’t forget interim occupancy and closing. If you’re not paying attention, you could spend months owning a condo that you can’t rent out, so it’s important to know the details as they could dramatically impact your income for a period of time.
What about closing costs, including development fees and levies? Some pre-construction condos are priced as such because of exorbitant closing costs.
With our guide to pre-construction condos in Toronto, you’ll learn it all and more.