Pre- construction condos is one of the hottest topic in the Greater Toronto Area.
One who is new to the Real Estate may have the question that What exactly the Pre construction Condo is?
Answer is here:
First word pre-construction refers to the planning of construction project before actual construction work.
2nd Word condo is the short form of condominium.
Condominiums refer to the private residences that can be sell-able independently. The whole building structure contains different units that can individually owned. Also there is some common space that are used jointly by the people living in the condominium building structure.
Most of us may be familiar with the word apartment but may not familiar with the word condos. So the basic difference between the both words are:
= > Ownership: Individual apartment units cannot be purchased. Individual condo unit can. Condos are managed by Homeowners’ Association (HOA). In case of apartment landlord would be a management company.
= > Rules: In case of apartment property management company is the ruler, same rules implemented on all units.
In case of condos rules varies per unit.
=> Amenities and cost
Now the Question which make us think is:
How I should invest in Pre construction condos to make the Profit?
Real estate business is not new to the world. Its trending always. Reason being Human need space not for living only even for the business he required the space. This makes sure the Real Estate business will rock always. But still there are some fact that control the profit line of the Real estate.
Now coming to the pre-construction condos:
We human always have plan or some thoughts about future. This thing plays a remarkable role in case of investing in Pre construction condos.
If I am buying a property for the future
according to today’s price list what may be the impact?
Pre-construction condo investment is fruitful option when a person want to invest in Real Estate but don’t want to spent on extra botheration like maintenance and repair etc.
Few points for pre-construction condos investment:
- Think about the future impacts like real estate market
- Research about various condominiums in your area.
- Pre- construction condos is better than established condos. Customization allowed inside of your unit.
- Cost: compare the cost of available options you have
Here was some overview about the preconstruction condos. I will be happy to assist you for your further queries and if you need help in preconstruction condos investment.