Why Presale Condos Are A Good Investment?
Is Presale Condo Investment Good?
With the real estate market doing well, it’s no wonder why so many investors are increasingly interested in wanting to purchase a pre-construction condo.
It is a great way for any person to invest in a long-term investment vehicle that is considered to be passive. It can also be a positive financial gain for first-time home buyers to get into the real estate market.
If you are intending to purchase a new condo, or several of them, perhaps you will be pleased to know that condo sales have increased exponentially and the competition has grown!
When you are considering buying a Presale Condo, knowing the right questions and concerns to ask when putting in an offer is essential.
Buying Into Your Future
Buying a pre-construction condo is similar to when you are buying into futures of the stock market. Theoretically, when you can purchase at today’s prices believing that in the future, those prices will go up exponentially.
Typically, as history has shown us, the long-term prices of properties tend to go up. With that said, there is a good chance that you can improve the odds of appreciation by getting properties in gentrifying neighborhoods.
Hands On Investment
While owning a condo can be a lucrative investment and an exciting one…being an owner of this type of property also comes with the responsibility of being hands on.
For many potential investors and buyers out there – they purposely avoid this opportunity because of this responsibility. For others, they understand the value involved and don’t mind the little hands on attention to the property it needs.
One of the benefits they buyers and investors appreciate is the option it offers to purchasing pre-construction property – the period when the construction can be passive.
By the time the condo construction is completed, you can finalize getting a qualified renter to rent out your property.
Also, a real estate agent may be a better choice for those of you who need management your property for an affordable fee.
With that in mind, any of the building or unit maintenance issues that come in typically have a warranty. As resources have shown, the condo occupancy rates are also quite good as there is a high demand for them, so finding a renter should not be to difficult.
Conclusion:
By enlisting the services of a seasoned real estate agent, you can rest assure that you won’t offer more than the house is worth or more than you can realistically afford to purchase. Contact Ravi today, who will approach the deal with a cool head and ensure that all decisions made are in your best interest.
If you need a presale condo, this option is perfect for buyers who want a new home to move into in the future, and who want to lock in a price and not worry about competing for units when a building is complete. Contact Ravi Bhindi at 604-825-8881
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 info@ipresalecondos.com
