What Makes Buying Pre-Construction So Appealing?
We need it, we know the benefits of owning it and we know that historically real estate continues to appreciate. Real Estate is all about time in the market, so buying real estate now means that you will be able to get your money working for you and in more ways than one.
Purchasing real estate in the pre-construction phase means that you will maximize your return from your investment, this is all due to the time of the build and the appreciation that comes with Time. During these years you can sit back and relax and watch your investment grow. This booming market is a great way to start the process of owning real estate for a couple of reasons. Purchasing a unit in the pre-construction phase is very beneficial, since the cost will be significantly lower than the price upon completion. This way, you can purchase the condo at a low cost and build equity even before the building is completed and move-in ready. Earning money on your investment really can be that easy. Once your unit is ready to move into, you can either live in it yourself while gaining more equity or rent it to a tenant, earning your rental income, while paying down the mortgage, while building equity. If you do decide to rent your condo, you will be required to notify the condo company to ensure that their policies are respected by you and your tenant(s).
More and more developers are competing in the industry. Developers are bringing their unique tastes and designs in their projects, with different types of incentives and opportunities for the buyers. Currently, we are seeing the rise of modern homes in the market with luxury designs and finishes. There are new projects coming in and around the GTA area every week. Some of the big developers are working together in developing outside the GTA, which has helped many first time home buyers secure their home in a competitive market. Many people are downsizing and getting into the new condo projects in cities with reliable transport systems and many other amenities at their doorstep. Overall, people have different reasons to invest in pre-construction projects whether they are looking to move in themselves or for investment purposes or just sell it on assignment from the builders.