Are Presale Condos a Good Investment?
Buying a Presale condo means that you will be the initial owner of a brand new home. A pre-sale condo is a unit that is going to be for sale, but that has not yet been built.
Once it’s complete, there’s no need to handle fixing up anything. Just simply move right in! You won’t have to worry about needing to replace anything in your unit for, on average, 10 years, and all appliances are brand new!
In some cases, you may also be able to secure additional storage or parking spaces. The option of buying a pre-construction condominium is unique, and many cities offer this option with savvy purchasers who get to enjoy the potential savings and other benefits they offer.
You won’t need to spend additional time on renovations, plus your home will be fully ready and customized to your liking and lifestyle.
Buying A PreSale Condo Is A Financial Gain
Building equity in a property has never been easier! At the time of purchasing your presale condo, the price will be locked in. This provides you the reassurance from any rise in market prices that may increase upon completion of your project.
The waiting period can be beneficial for purchasers who want more time to save, since full payment isn’t due until the building is complete and the sale is closed.
As the purchaser, you may have the right to cancel the contract to purchase the property within a certain short time frame after the offer has been accepted, which gives you an extra time to ensure the decision you’re making is right for you.
This is another one of the great presale benefits.Your commitment to buying the unit, is the earnest money. For added peace of mind, most developers offer a warranty plan for anywhere from 1-7 years after move-in.
Location To Fit Your Lifestyle
Before you commit to a presale condo, research the desired locations that fit your lifestyle choices and any additional development plans to make sure you will be happy living there.
Another added benefit of a presale condo is that it’s usually significantly lower than an established traditional single-family home, which makes buying in your desired location much more achievable, ensuring that all of your life’s necessities are well within your reach.
Many couples, families, and those that are retired are choosing to live in walkable, well-appointed neighbourhoods surrounded by cultural institutes, entertainment and landscaped parks.
To find your Presale Condo, check out our Presale Directory here.
Whether you’re looking for a condo pre-construction or resale, it’s always best to work with a real estate agent that is experienced in the Greater Vancouver Market. By working with an agent who has experience in both pre-construction and resale condos, you can rest assured that you’ll get all the information you need to make an informed decision about your next purchase.
Ipresale Condos is not just an agency that sells real estate, but our agents believe in educating each client deal with their own professional situation. Please call or text at 604-825-8881 or email at email@example.com