Factors That Influence Pre-Construction Condo Investments

Posted by CondoInvestments on August 1st, 2019

The skyrocketing condo sales in the country has made the pre-construction condo investmentsattractive to homebuyers and investors. In fact, statistics show that there are more than 1.9 million condominiums as of 2016, resulting in a surge in brand-new and resale condo prices. The trend continues with the number of pre-construction condos on the rise.

A pre-construction condo investment sure seems like a great deal. But don't be too quick to jump in head first. There are risks that you must understand and crucial factors that you should consider before buying pre-build properties.

Condominium builder/developer

Putting your money on something that hasn't been built or finished yet is always a risky move. You don't want to buy a pre-construction unit from a builder who will cancel the project and leave you hanging. To avoid such a thing from happening, finding a reputable builder or developer should be your first step. When researching for a project, find out the developer's track record. Ask if the company's past projects were completed on time. Also, ask for references—people you can talk to as well as other contact persons that can attest to the developer's reputation.

Location

One of the biggest factors that influence pre-construction condo investments is the building’s location. A property in a booming and strategic location will surely be attractive to future buyers and will have the most potential to deliver the highest ROI. Location is the biggest reason why Toronto and Vancouver remain as the country's largest housing markets. Together, they make up about 54% of the total condo sales in the whole of Canada. So if you want to make sure you're getting the most out of your investment, carefully consider the location. Smaller cities are also great options. However, you'll have to wait for years for their population to become denser and for new developments to take place before the prices increase.

Pre-construction condo broker

Choosing the right pre-construction condo investment is not a simple task. It’s always wise to seek the guidance and expertise of a professional broker. You need people who have experience in the real estate market—experts with access to various properties as well as important information that are otherwise unavailable on public MLS. These brokers will ensure that you'll get the best property for your hard-earned money.

About the Company:

CondoInvestments.ca is your One-Stop Source for Toronto Condos. Specializing in New Condo Developments we provide First Access and VIP Incentives. The team at CondoInvestments.ca helps clients buy and sell new and resale condominium apartments in Toronto. We are a group of high energy, experienced, committed and passionate real estate professionals providing our clients with high calibre real estate services and cutting-edge advice  with the utmost integrity. We combine the world’s most prestigious real estate brand with local market knowledge and unrivalled international marketing solutions.

In addition to offering basic marketing services available through other real estate companies, CondoInvestments.ca as part of Sotheby’s International Realty Canada will build a customized marketing plan for your home that is tailored to reach the most relevant and qualified real estate buyers through online, social media, mobile, print and traditional marketing. We service local, national and international clients.

Contact Information:

Contact Person: Oliver Baumeister von Bretten

Designation:Broker, Senior Vice President

Address:1867 Yonge Street, Toronto, ON, Canada

Pin code:M4S 1Y5

Contact Number:+1-416-606-2002

Company Email ID:info@condoinvestments.ca

Website: https://condoinvestments.ca/