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 condo at a low cost and build equity even before the building is completed and move-in ready. Earning money on your investment really can be that easy!
Once your condo is ready to move into, you can either live in it yourself while gaining more equity or rent it to a tenant, earning you rental income on top of the equity. If you do decide to rent your condo, you will be required to notify the condo company to ensure that their policies are respected by you and your tenant(s).
Renting out a condo is a great way to gain on your investment since the condo is already managed by the condo company. You need not worry about maintaining the property (grass cutting, snow shovelling, etc), which gives you even greater freedom to sit back, relax and watch your investment grow.