Saturday, 6 June 2015

What makes a “good deal” when buying Pre-Construction condos in Toronto?

With so many pre construction condos breaking ground in Toronto, it is sometimes easy to get lost in the sea of offers.  Knowing what is really a good deal when it comes to buying a pre construction condo is essential to validate your investment.  Some things may appear to be amazing deals, however they should be included in the initial investment.  Some buyers don’t know what to ask for or what is available to them. 
TorontoCondosVIP are experts in getting great deals with pre construction condos, let’s go through some major points to consider which should help you determine exactly what type of pre construction condo you are looking for.
Let’s start with amenities - think about some of the things that you want and need.  There are different types of condos being built right now, the ones with zero amenities, the ones with minimal amenities, and the ones with over-the-top amenities.  Resale value always goes up with the amount of amenities offered.  These amenities could be per unit, or shared within the condo. 
However, with more amenities offered, the higher the condo fees per month.  Consider what you will actually use, and what most people actually use.  Reality is, in downtown condos, people tend to keep to themselves, and the current trend in pre construction condos is zero to minimal amenities.  Those condos that offer so many different options are a rare find, and also have ridiculous condo fees that aren’t really justified. 
Storage lockers are a must for many people – however many pre construction condos do not include storage lockers.  Finding a location with a decent sized one will always be considered a fantastic and rare find. Even making use of extra space within the condo itself is something that pre construction condos are taking into consideration.  The truth is, everyone has a lot of stuff, this is a part of our culture – and we need a place to store it all – so storage lockers are an excellent find anywhere.  Terraces are also something that are in demand, but due to space restrictions, are also rare.  Developers have started being creative and are utilizing the rooftop in unique ways that address some of the buyer demands. Rooftop terraces, Jacuzzis, lounge/picnic areas are trendy, cool and gives the feeling of calm within a very busy city.  They are also great because they create a community feeling within the condo that most people enjoy, but aren’t necessarily going to go out of their way to encounter. 
Parking is also something that is a good deal.  Whether you own a car or not, a parking space is considered a great deal.  Parking in Toronto is a multi bazillion dollar industry each year.  Parking garages make ridiculous amounts of money.  Having the option to rent out your parking space, is money easily made, or if you have a car it’s a necessity to have a parking space. 
There are many deals out there, but knowing where to look is sometimes difficult.  Let me help you – and together we can uncover some of the best pre construction deals around the city.  Give me a shout today and let’s get started!
Sherry Dabir is a real estate broker with HomeLife, and specializes in Pre Construction Condos within the GTA.  She is currently ranked in the top 5% in Canada and has exclusive VIP access to and experience with Pre Construction Condo projects.  Contact her today to learn more.
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Tel # 416 417 2400

1 comment:

  1. Most people are unaware that when they go into the sales office for a new condo development, the sales staff there to help you work for and represent the interests of the builder so it's a good idea as a potential buyer to have your own representation with you.
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