Buying a pre-construction condo offers instant appreciation in value and the potential for a profit with very little effort from you the investor.

Someone may think buying Real Estate is easy and you do not need much knowledge to go and buy a property. If you have the capital ready to spend there are countless properties available to buy that may look like a worthwhile investment on paper but could turn out to be a money pit.

Investing in property is just like any other business – it takes time, knowledge and patience to find the right one.

Beginners luck? That’s pretty rare, especially when buying a condo. You might look at a floor plan and think  “ Wow, it’s so cheap, the view is going to be great and it’s so roomy!” And that might not be the case… I mean, who doesn’t love waking up to the sound of traffic and looking out the window to see an old man doing yoga on his balcony?

No, but really, a beginner might think that they have found the world’s greatest condo and not be able to fit their bed in the bedroom. It’s pretty hard even for people who have more experience in this area to get an exact image of how the condo will look by just examining a floor plan. So unless you really do want to be stuck withhalf of your bed in and the other half out of your bedroom, the tip is to hire a professional.

 

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Find out Pros and Cons of Buying Pre-Construction& Get Useful Tips
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A planned and organized search, as well as established connections with builders, can lead to a great property investment. With our knowledge and experience, we successfully guide buyers with making the right condo purchase and investment decisions.

The layout of the unit, the exposure and the level the unit is on, are very important. It is also very important how the unit is affected by common-elements.

Another very important step is to choose the right finishes for your unit and this can be done without having to pay extra for the builder’s upgrades. The designer on our team has an impeccable taste and sense of style. He can help you choose the finishes that will combine the latest trends with timeless classic appeal to delight you and the future buyer of the unit.

There are a lot of factors to consider when buying real estate, the property itself is just one of them.And, as always, we will assist in choosing the best buy.

It is also very important to be prepared to pay the HST on closing and to know how to claim it back.

Because it’s a new construction condo, HST may apply. The price set out in your Agreement of Purchase and Sale from the builder assumes that the purchaser will be using the property as a primary residence and therefore, the builder will receive your property’s HST New Housing Rebate.   This way, the builder does not need to charge you the HST in addition to the sale price.   However, if the new build investment property will be non-owner occupied, you are required to pay the HST in full on the date of final closing and title transfer.
Since the HST New Housing Rebate took effect recently, many investors are unaware of extra fees they have to pay to the builder on final closing if closing a non-owner occupied property.

The amount of HST the builder will charge on final closing is NOT 13% on top of the purchase price.  It is calculated differently. You may also be eligible to get the money you have paid back right after closing by applying for an HST rebate. You may be eligible to receive up to $27,000 back.

We partner with the HST relief services that assist investors with closing a new build investment property by lending you the HST amount needed to close your investment property and filing for theRebate with the CRA to get money back.

How are the pre-construction projects usually being released by the developer and when is it the best time to buy?

  1. The First Release – usually referred to as the Platinum Sales Event. You can purchase at this event only if represented by so calledPlatinum Agent. This is absolutely the BEST time to buy. Platinum Access is the opportunity to buy the best units at the lowest price.
  2. The Second Release – usually referred to as the VIP Sales Event.You can purchase at this event only if represented by so called VIP Agent. This is still a good time to buy and you may still be able to get good units but at the slightlyhigher price.
  3. The Third Release. This is the release you can get access to via other real estate agents. By the time project is released to all agents, the selection of units is very limited and the prices are usually higher.
  4. The Fourth Release. This is when the remaining (if any) units are being released to the general public. You do not even have to be accompanied by an agent to buy during this release. By the time the project is open to the public, prices are usually increased by some percent comparing to the prices introduced in 1-3 releases and all the best floor plans are sold out. (sometimes the whole project is sold out completely during Platinum and VIP releases)

 

 

We Will Guide and Assist You in Building and Managing a Successful Real Estate Portfolio

Here is What We Do

  • Suggest where to invest for a higher profit;
  • Get you the access to purchase at the first, Platinum Release;
  • Guide and explain what to expect at each phase of the construction;
  • Explain the Agreement of Purchase and Sale and your rights and obligations as a buyer of the pre-construction property;
  • Review of the Agreement of Purchase and Sale by the Lawyer with no extra charge to you;
  • Explain the costs involved, i.e. builder’s closing costs, levies, HST and suggest how to keep them at the minimum;
  • Negotiate the best terms with the builder, i.e. right to assign, capped closing costs, freebies;
  • Review floor plans and select the best layout;
  • Review site plan and select units with the best exposure;
  • Review building plan and select units that are least affected by such common elements as elevators or garbage disposals;
  • Assist during colour selection appointment;
  • Assist during PDI (pre-delivery) inspection;

Get in touch with us for An Opportunity to Invest or Live in a Triple AAA Real Estate in Toronto’s Most Affluent Neighbourhoods at the First Release Prices

PRE-CONSTRUCTION PROJECTS

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