The real estate market is one of the most profitable investments that a person can make. A pre-construction condo is a great way to invest in real estate because it can provide the investor with the opportunity to purchase a property before it is built. This means that they will not have to pay for the construction costs of their unit, but they can still receive a return on their investment once they sell it.
Pre-construction condos are a great way to invest in real estate. They allow you to get in on the ground floor of a new development, often with a better price than resale properties. The downside is that you don’t get to move in right away. You must wait until the building is finished before moving in.
Condo construction usually takes between 18-24 months. As a result, you can quickly cash in on the appreciation of your investment once you buy it before it’s completed.
The idea behind this is that when people buy a condo from you, they are also buying into an investment that will eventually go up in value. This means that they’ll be willing to pay more for your unit than they would have if they were buying something else.
They’re not as expensive as you think. Condo prices have been escalating in Toronto, but developers are still offering deals on pre-construction units. Depending on your budget, you can get a one bedroom unit starting at £200,000 while three bedrooms go up to £300,000. This is still significantly cheaper than the resale market, where one bedroom condos are priced at £350,000 while three bedrooms start at £450,000.
You’ll get more space for less money. Condos also offer more square footage compared to other types of homes such as townhouses or semi-detached houses. A two bedroom condo has around 1,100 square feet of usable space, which is larger than a detached house that only has an average of 940 square feet of usable space per home.
You’ll have more amenities than you think too! Many pre-construction condo projects come with amenities such as gyms and swimming pools so there’s no need to purchase memberships just yet! Also, some buildings even offer shuttle services from nearby subway stations or bus routes.
Another benefit of pre construction condos is that they tend to sell faster than other properties because there are fewer options available. This means that you won’t have to wait as long for an offer and can get your money sooner if you need it or want to move on to another project or investment opportunity. To know more information about pre construction condos Toronto, contact us.