Buying a New Condos is one of the most exciting and biggest decisions you will ever have to make. Buying pre-construction during the planning stage gives you several advantages: • Wider selection of floor plans and locations within the building • “Brand new” means substantial savings: less maintenance, less repairs, therefore less expenses • You can choose and personalize your decor and finishes • Historically values increase between pre-construction & occupancy • Tarion Warranty Protection
What should you investe? Your home is an investment and there are a number of things to think about when you are looking at the investment aspect of the home you are buying: Location- Make sure that you buy in an established residential area, or one that is up and coming, which will allow for future appreciation. Developer- Make sure you are dealing with a respectable builder with a good track record. See www.tarion.com for quality ratings. Suite Design or Floor Plan - Make sure that it’s easy to furnish. Keep it resalable: for example don’t change a big suite from a 2 bedroom plus den to a 1 bedroom with 1 bathroom. There will be less interest when you want to sell and most buyers won’t want to renovate it back to its original state. Lobby and Common Areas- This is the front door and the image of your investment to the outside world. A great lobby, not necessarily a large one, but a nice one, can make or break a long-term condominium investment. When buying a used home or a resale, you may renovate the suite, but you must live with the outdated lobby and hallways Amenities- Features such as: Concierge Service, Parking, Fitness Centres, Lounges, and Rooftop Terraces add value to your investment. Home Sweet Home- Unlike stocks and bonds where you only acquire a piece of paper, your home is an investment that you live in. Make sure you like it. |
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