If you’re looking at Etobicoke condos for sale, you may be considering a pre-construction unit versus one that is already established and move-in ready. If you don’t have a strict timeline for moving in, or you can be flexible with your dates, pre-construction can be a really excellent option. There are many downtown Toronto condos for sale that simply aren't finished yet, and by choosing pre-construction, you will be there right from the beginning.
No bidding war
The past few years have really put a damper on those dreaming of a home. One can spend weeks looking at Etobicoke condos for sale, place an offer over asking — sometimes thousands and thousands over asking! — and still, get outbid. In the best-case scenario, there’s a chance to match that offer. Worse case, you don’t realize you didn’t get the place until it goes under contract.
Generally a better price with excellent appreciation
It’s true that pre-construction homes and condos carry some risk. You’re betting on the fact that the developer can stick to a timeline, there are no shipping or construction issues, and you can move in within a set time frame. In exchange, though, you tend to get a better price for the quality, size, and finishes. Think of it as a “pre-finishing discount.”
Your custom dream home without the hassle
A lot of people assume that when looking at Mississauga or Etobicoke condos for sale, you will have to sacrifice the idea of a dream home. Many existing condos have their layouts, floors, and even countertops already chosen. You could look through the many downtown Toronto condos for sale and find one that is similar to what you would like, buy it, and then spend fifty thousand dollars customizing it so that it could become closer to what you’ve always envisioned.
No repairs, no renovations, no stress
If you’re looking at pre-construction downtown Toronto condos for sale because you don’t want the hassle of repairs or unknowns, you’re making a good decision. When buying a pre-lived in home, you never quite know what you are going to get. Sure, you can have an inspection done, but there’s no promise that everything will be uncovered. If the previous owner thought they were a DIY expert, you could end up fixing their mistakes for years to come. A leaking roof, leaky plumbing, or even something small like an old washer and dryer and a fridge that has seen better days is all things you have to think about and consider.
Brand new amenities
Many people look at Etobicoke condos for sale not just because a condo makes sense but because of the amenities modern condos provide. Fitness centers, pools, and outdoor spaces, all of these things are often included in the condo association fees. You get access to amenities you would never be able to have for the same price in a single-family home.
Lower energy bills
Older condos that haven’t been updated may have a certain quirky charm, but there’s nothing charming about windows that let out all of your heat or air conditioning and walls that are too thin and poorly insulated.
Ready to buy?
If you’re ready to look at pre-construction Toronto or Etobicoke condos for sale, reach out to Valerie Gerardi today. Valerie is uniquely qualified to help you with pre-construction, as she got her start in the real estate business by being a Certified Ontario Home Builder. She started her own custom home building company and spent 15 years making dreams come true.