All across the world, condos are becoming one of the hottest commodities imaginable. Modern and aesthetically-pleasing architectures, coupled with high-tech amenities and cutting-edge décor has, no doubt, created a boom of sorts, particularly when it comes to all things high-rise and residential. Now is the time, then, to reap the benefits of this real estate dream come true.
Whether you choose to buy a pre-existing unit, or opt for the pre-construction route, you’re going to benefit from this decision in some way. The financial specificities and how your investment will grow is dependent on the region in which you’re located. Toronto, Ontario, for example, is one of the most popular areas. In recent years, the city has surpassed all expectations, filling its skyline with many developments in less than a decade.
However, no matter where you’re located – be it Toronto or Vancouver – the first thing to do if you’re hoping to partake of the rampant popularity of condominiums is to learn about pre construction condos and how they differ from other models, both financially and pragmatically. This is where a team of agents who are knowledgeable about the nuances of real estate developments – like the expert team at CondoHere – will come in handy.
First and foremost, a pre-construction condo is the best way to take advantage of this formidable increase in the value of condos. Not only do they afford you certain financial freedoms (compared to older, more established buildings), they can be more profitable in the long run, insofar as they are built to outlast their predecessors. With developing buildings, you don’t get what you pay for – you get, instead, so much more.
Given that larger homes are unlikely to fall in value any time soon – particularly in the Greater Toronto Area – one shouldn’t hold out for that possibility. At the same time, this is no reason to pass on alternative opportunities. While pre-construction condos are yet-to-be-built, their benefits can certainly be felt in the immediate future. Their initial fees are substantially lower than that of, say, a mortgage for a house in just about any area in southern Ontario. While they aren’t always as large when it comes to square footage, this is compensated for by way of affordability – because they’re incomplete, you are not required to put forward a sizable down payment prior to moving in.
One of the most lauded benefits of these housing ventures – second only to how easily financed they are – is the fact that each and every aspect of your new home will be brand new. That is to say, completely unused amenities are at your disposal. A great deal of enjoyment and comfort will be derived from this fact, whether or not you hope to live in your unit, or simply plan on leasing it out to tenants.
There are plenty of reasons to get involved with the current condo boom. With these shockingly beneficial pre-construction realities in mind, it might be time to get started on setting a projected move-in date, before those new developments in the neighbourhood of your dreams are filled to the brim with satisfied residents and investors alike. Luckily, with the right team of real estate agents on your side, you’ll be able to quickly and easily find the perfect condo.
