In certain neighborhoods, there is an option to purchase pre-construction or resale condos. There are both pros and cons of this option. It depends upon what you expect and your preferences for the condo lifestyle. If you have plans to purchase condos, visit The Bread Company Condos website for details. The preconstruction condos are also referred to as newly built condos and they are mostly bought before they are constructed. You will be the first resident and owner. Let us review and brief the benefits of preconstruction condos.
Preconstruction condos are mostly affordable than resale:
The price of preconstruction condos is fixed by the condo contractor. So, you can easily purchase at a reasonable price. The best part of purchasing pre-constructed condos is the price would not fluctuate due to real estate marketplace status. Why do you think that it is an excellent option? In most of the cities in Canada, the condo prices have increased double or triple the times before it was, in the recent years. It means you are preparing yourself for the future by purchasing condos at today’s price. As there is strong growth in the market, certain preconstruction condos serve as the best investment option.
It is possible to upgrade preconstruction as per your taste:
Another major benefit of buying pre-construction condos is you can customize as per your liking. As a purchaser, you have to search, select, and finalize the finishes and upgrades. Since it has not been built yet, you can request the developer to construct as per your taste. The new condo is built by using the latest design options and trends. It comes fully upgraded. Thus, you can save thousands of dollars in future makeovers. When you purchase a resale condo, it will be a few years old and out of date.
Newly constructed are new and good:
There is no need to worry about damage, scratches, or blemishes left by the earlier tenants when you are the first resident and owner of a newly constructed condo. When you move inside, everything will be in fresh status. It is important for people with sensitivities to pets. There will not be any hair or dander that will creep around for years. Newly constructed condos are also preferred by people who wish to live in a clean house. You do not have to clean unknown sticky patches as no person would have made a mess earlier.
Affordable down payments for preconstruction condos:
The down payment will be flexible and convenient for the buyers as it will be divided for several months. It will be simple for certain households to easily pay the down payment. Certain developers would ask you to pay about 20% down payment in four installments. As it is not going to be in one shot, the purchasers can easily plan and own their condos. It is best to check with the developers who are specialized in preconstruction condos. They will also be willing to negotiate the price and set things flexible for your convenience.