Latest Pre-Construction Condo Projects In Ontario
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Why Invest in Pre-Construction Condos?
Real estate investments are often the safest and most reliable. Most of these investments pay for themselves, if they are eligible to be rented, while you build equity. Unlike resale, pre-construction condos in Ontario and Alberta come with a lower price tag, modern amenities, and brand new appliances. This affordability, combined with the advantage of a gradual payment plan, spreads out the financial commitment, making it more manageable over time, especially for young home buyers.
New construction condos in Canada are not only built to the latest standards, ensuring modern living, but they also incorporate the newest technology and design trends. Also, new condos come with warranties, like the Tarion Warranty in Ontario, which protect you against problems with construction quality and future maintenance issues.
Selecting a unit in the early stages of a project opens up a range of choices and builder incentives like discounted parking, discounted storage units, and free assignment.
One of the biggest perks of spaced out deposit payments. Typically for pre-construction condos, the deposit structure involves a series of payments totaling a percentage of the purchase price, spread over a set period. Initially, a small percentage is paid upon signing the agreement. This is followed by subsequent payments, often staged at intervals like 30, 90, 180 days, and at the one-year mark. Your last deposit is due at move-in, which is typically 5% for condo projects in GTA. The total deposit usually ranges between 15% to 20% of the purchase price, depending on the developer and location.
If you’ve been thinking how risky pre-construction condos are, you have nothing to worry about. Only 5% of pre-construction projects in the Greater Toronto Area get canceled. When that happens, the builder will return you the deposit back with interest within 10 working days.
Investing in pre-construction condos is attractive because their value often goes up during the building phase. Market trends and the rising demand for new properties contribute to this, which makes selling new condo units even before move-in hassle-free.
Average Price of New Condos in GTA
Currently, new 1-bed, 1-bath condos across GTA mainly in Toronto, Mississauga, Oakville, and Markham start around $600,000. On average, it costs $1,411 per square foot and these condos range between 500-650 sq ft. (November 2023). If you are to purchase a resale 1-bed, 1-bath condo, it will cost you around $716,145.
Meet Catherine Nacar
Your Pre-Construction Specialist in Brampton
Meet Catherine Nacar, a seasoned professional with a deep-rooted passion for pre-construction real estate in Canada. With a solid academic background in Real Estate Management and several years of experience in the industry, Catherine combines formal education with practical experience to offer a well-rounded service.
Having worked closely with some of Canada’s top developers and architects, Catherine provides clients with invaluable insights into upcoming projects. This isn’t just about making a sale; it’s about helping you make informed decisions so you can invest with confidence.
From Toronto and Mississauga to Calgary, Catherine has successfully brokered deals across a wide variety of properties—be it chic boutique condos or expansive multi-family developments. With such a diverse range of projects under their belt, you can feel secure knowing Catherine has the expertise to meet your unique needs.
A Smaller Upfront Cost, A Bigger Future Gain
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Focus on what truly matters
Condos offer the best of urban living—short commutes, world-class amenities, and a vibrant lifestyle. They're a smart investment because they provide the benefits of homeownership without the hassles of maintenance and security, giving you more freedom and time to focus on what truly matters.
Let Catherine Nacar assist you throughout the whole process.