There are many benefits to investing in pre construction condos for sale in Toronto. First, you won’t have to make a large down payment. Most developers only require a deposit of a fraction of the condo’s value, and you can pay in installments. In addition, you won’t have to worry about losing money if the market takes a turn for the worse since you’ll be able to sell your unit when the time comes. Moreover, you will get an affordable price, which is much lower than the market price.
You can earn instant equity:
Another advantage of investing in pre-construction condos is earning you instant equity. Unlike other real estate types, you won’t have to worry about paying for maintenance or even paying rent. Buying a pre-construction condo will also save you from the hassle of bidding wars. And, if you have a long-term investment plan, you’ll be able to reap the benefits of the low-down payments. Besides, you can use the condo for rental or resale purposes, increasing its value.
You can save a large amount of money:
Another benefit of investing in pre-construction condos is that you can save a lot of money. Most developers offer incentives that require a 20% deposit. In addition, you’ll also earn 100% appreciation on the property for the next three to five years. This is great because you don’t have to worry about paying mortgages, renting out your property, or dealing with tenants. Because your initial investment will increase over time, you’ll have the opportunity to leverage your small funds and earn big profits.
You can enjoy 10 days of cooling-off period:
Another benefit of investing in pre-construction condos is enjoying a 10-day cooling-off period. This will allow you to decide if you want to purchase the unit or not. You’ll also have the time to research the builder and the neighborhood. This is a great feature if you’re new to the real estate market. It can be difficult to sell a pre-construction condo once it’s finished, but it’s worth the risk. During this time, you can assess the investment and make any necessary changes. When you sell or rent the unit, you’ll get 100% appreciation.