Pre-Construction Condo Investment Toronto
by Hridoy Ahmed Search Engine Optimization(SEO)Are pre construction Are condos cheaper?
Not always, the price of a Preconstruction condo is
usually higher than the existing market price since the condo will be ready in
the future. Let’s say you buy a 600 Sqf Condo in Downtown Toronto for $600,000,
which works out to be $1,000 per Sqf, by the time your condo unit will be ready
(let’s say 3 years) the average price of a condo in downtown Toronto will be
around $1,500 per sqf. so in 3 year, you will have a brand new condo that you
purchased 3 years ago and you gradually paid for it in installments.
to answer your question: “Are pre-construction condos cheaper?”
yes, usually pre-construction condos are cheaper in the long term but not
necessarily if you compare them today with a resale condo. Pre-Construction The condo is great long term Investment
Purchasing a Toronto Pre-Construction Condo is Cheaper
than a Resale in the long term. Some others argue that the cost of building a
new condo is becoming higher every year, as a result, the new condos are
costing more for the builder to finish.
How long does pre
construction take?
How long does a condo take to build?
There is no guarantee for the completion date,
everything is an estimate, but historically we have seen most condo project
gets done anywhere from 3-4 years and some will get longer anywhere from 7-8
years.
do your research to make sure you’re purchasing from a
trustworthy builder with a strong reputation. Postponements can be brought
about by burdens that are past the developer’s control, (for example, work
strikes or poor climate conditions), however top of the line Condo Builders
will dependably make it their central goal to adhere to the advancement course
of events as intently as could reasonably be expected. Make sure to check the
Builders history on Tarion’s developer index before leaving all necessary signatures
for your new Condo.
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Created on Jan 23rd 2020 23:42. Viewed 297 times.