The Multiple Benefits of Purchasing Pre-Construction
Purchasing pre-construction is a great way for first-time buyers to get into the market and it is a great investment opportunity for the savvy investor type.
The increased desire to live in and around the Greater Toronto Area has caused the increased manufacturing of pre-construction homes. Purchasing pre-construction is beneficial for families to own or rent out making this a great option for the investor, not just the end-user.
Purchasing a condo at the pre-construction phase is very beneficial since the cost will be significantly lower than the price upon completion. This way, you can purchase the preconstruction property at a lower than market cost and build equity even before the building is completed and move-in ready. Earning money on your investment really can be that easy!
Property management is the key to a maintenance-free property, which is great for everyone; investor, tenant or owner-occupant. Not having to cut the grass or shovel snow is a prime feature for some individuals.
Once your preconstruction condo is ready to move in to, you can either live in it yourself while gaining more equity or rent it to a tenant, earning your rental income on top of the equity which gives greater freedom for the investor to sit back, relax and watch their investment grow.