How to Successfully Buy Preconstruction Condos in Toronto

Oct 3, 2020 | Pre-construction Condos, Toronto

How to Successfully Buy Preconstruction Condos in Toronto

Developers are known to play a little game when setting up for their initial launching of the pre-construction condo project and one very important piece of information is… the developer does the launch in generally five different stages

Developers Dilemma

Did you know that developers cannot move forward with obtaining their OWN financing for construction until they sell at least 75% of the units? This is just one of many bits of vital information that you should know how to successfully buy pre-construction condos in Toronto!

This is a key point as to why the price tag on a pre-construction unit is lower than at the time that the condo is completely built, and units go up for sale. This is also why a buyer only needs a good down payment to secure a unit in a preconstruction condo without having to flip the mortgage loan too…that can wait until the condo is completed.

Developers are known to play a little game when setting up for their initial launching of the condo project and one very important piece of information is…the developer does the launch in generally five different stages. As you may have already guessed, the best and most desired units are the top picks for buyers and the method for early sales usually runs as so:

Toronto Real Estate
  • Preference buyers (developers tend to let family & friends have first pick of units)
  • A ‘Platinum’ Launch (a select group of top agents are invited to work with the developer for the best prices)
  • The Launch for VIP’s (a few hundred real estate agents are invited to help sell remaining units)
  • All Agents In (any agents can now help sell the remaining units)
  • Opening for the public (anyone can make an offer on the remaining units)
  • Bend It to Your Favor 
Condo Building Under Construction

First Buyers Are Getting The Best Prices For Condos

Now that you know that the first buyers in usually gets the best prices and at the public opening, units are priced higher and are less desirable then, say, the top floor(s) units. If you can at least get in with your realtor at the Platinum launch or the VIP launch, you have a much better chance of saving some substantial money (timing could be everything and could cost you a difference of $100,000)!

Location sometimes has to do with essential timing and pricing on pre-construction condos; in other words, the location could dictate the starting pricing (which could be set higher) and then lower, staying consistent for the remaining launch stages. This basically means you could pay a much higher price then someone that came in a little later for the exact same unit size & style.

Sugar Wharf Condos 

Scaling Up: Large-Scale Storage in a 30×64 Setup

Scaling Up: Large-Scale Storage in a 30×64 Setup

Looking for a storage solution that can accommodate multiple vehicles, heavy machinery, and a large quantity of materials? Look no further than large-scale storage in a 30×64 setup. This setup demands perfect planning, meticulous organization, and top-tier infrastructure. The key advantage of this setup is the ample space it provides, allowing for efficient stock and machinery management. With the flexibility to customize the storage layout to meet personal or commercial needs, the possibilities are endless. Opting for a steel structure offers durability, flexibility, and efficiency compared to traditional materials. By optimizing and maximizing the space, you can create an efficient and effective storage experience. With the surety of durability and versatility offered by steel constructions, the potential of a 30×64 setup is unlimited.

Designing a 20×24 Creative Studio: Tips and Inspirations

Designing a 20×24 Creative Studio: Tips and Inspirations

Are you ready to turn your creative ambitions into reality? Designing a 20×24 creative studio can provide you with the space you need to nurture your innovation and productivity. From planning the purpose and location of your studio to choosing the right materials and integrating design and functionality, there are several factors to consider. Investing in a 20×24 steel building kit can be a great starting point, offering strength, durability, and cost-effectiveness. With careful planning and attention to detail, your dream studio can become a place where your creativity thrives and your accomplishments soar.

Leveraging a 30×40 Area for Business Expansion

Leveraging a 30×40 Area for Business Expansion

Thinking of expanding your business? Consider leveraging a 30×40 space for your business expansion. This size provides ample space to meet increasing storage needs or create an extra workspace. By designing versatile spaces, utilizing steel buildings, and carefully planning the layout, you can make the most of this compact space. Whether you need additional storage, a workshop, retail space, or office space, a 30×40 area can be transformed into a peak-performing business unit. With the right decision-making and design, the journey of expanding in a 30×40 space can lead to countless opportunities and commercial benefits.

Smart Spaces: Innovative Uses for a 20×20 Building

Smart Spaces: Innovative Uses for a 20×20 Building

Unlocking Potential: The Smart, Space-Efficient Uses of A 20×20 Building

Have ever considered how the plain aesthetics of a 20×20 steel building kit could help unlock incredible possibilities? A simple 20×20 building, often underestimated due to its size, packs a potent punch when it comes to versatility and efficient use of space. Intrigued? Come along with us as we delve deep and explore unique 20×20 space-efficient building uses.

Transform Your 20×20 Building into a Compact Living Space

One innovative use for buildings is micro-living. The world is moving toward minimalism and efficient use of space. So, why not build a 20×20 tiny house?

A tiny house doesn’t mean you sacrifice comfort. It’s about intelligent utilization of space, installing multifunctional furniture, and elevating your living experience. The steel structure of a 20×20 also adds durability, withstanding elements better than traditional wooden structures. Making a home in a 20×20 space-efficient building is feasible and aligns perfectly with the trending minimalistic lifestyle.

Create a Tranquil Home Office

With remote work becoming the norm, a 20×20 building can be the perfect space for a home office. Gone are the days when you had to pace around your home looking for a quiet corner, dodging the chaos of daily home life. Separate your work and living space to enhance your productivity and mental health. With some smart interior design

Comprehensive Storage Techniques for 40×40 Workshops

Comprehensive Storage Techniques for 40×40 Workshops

Introduction:
Whether you’re a hobbyist, a professional craftsman, or a business owner, a 40×40 workshop is a significant investment. How you strategically plan your workshop’s storage solutions in 40×40 spaces can make or break the functionality of the space. From easy access to critical tools to proper organization of equipment and supplies, effective storage methods can significantly enhance your workflow and productivity. In this article, we will dive into comprehensive storage techniques for 40×40 workshops, keeping the focus on maximizing value and creating an efficient workspace.

Enhancing Warehousing Efficiency with 60×100 Solutions

Enhancing Warehousing Efficiency with 60×100 Solutions

Is your warehouse storage operating at its full potential? Are you maximizing productivity as much as possible? Perhaps you’re exploring ways to enhance your warehousing efficiency and have stumbled upon the 60×100 warehousing benefits. Excellent! This is an extremely crucial step in optimizing your warehouse functions.

Certain warehousing solutions can revolutionize your operational efficiency and drastically impact your bottom line. One such solution is having a well-structured, spacious 60×100 steel building. This solution has gained popularity for its immense benefits in the warehousing sector.

Before delving deeper, let’s first understand what we mean by a 60×100 steel building kit. Simply put, it refers to a steel structure with a width of 60 feet and a length of 100 feet. This entire setup is provided in a kit that carries everything needed to erect the structure.

Investing in a 60×100 steel building kit has several advantages for your warehousing operations. To begin with, these steel structures provide ample space for storing goods, equipment, and products. The spatial freedom allows for organization and easy maneuverability of goods hence speeding the operations.

Steel buildings are constructed to withstand harsh weather conditions and have a longer lifespan compared to their wooden counterparts. The durability ensures that your operations can proceed even during inclement weather, as these structures are inbuilt with resistance to rust, fire and pests. This quality offers longevity and reduces maintenance costs.

An additional 60×100 warehousing benefit includes the flexibility of design. The

Monde Condos by Great Gulf

The Realtor & Developer Relationship

Knowing how to successfully buy pre-construction condos in Toronto is to know upfront that developers and realty agents & brokers have a unique relationship that benefits them both. During a Platinum launch, the developer basically opens their roll-a-dex and plucks out their top realty contenders for the Platinum launch, which benefits the ‘Platinum’ realtor and the developer for a quicker/secure unit sale.
The Platinum realtors have an excellent track record of working directly with developers, sell many units for them and expect the developers to call them up when a new development is approved for construction to further pre-sell units. This relationship does save the developer money…but how?

Developers could spend a small fortune if they skipped the second, third and fourth stages of the launch and went straight to the public after the first stage and it is this that lends to the attraction of directly using real estate agents and realtors to push the preconstruction suites & units. Sure, developers must worry about realtors & agents/brokers commissions, but it is less work and less money for the developer to create relationships with realtors.
It is the real estate agents, brokers and realtors that shoulder the major costs involved when promoting a preconstruction condo. The developers respect this expense, and THEREFORE the developer protects the realtors and gives them the earliest chance to sell units.

Toronto Waterfront Developments

Time Equals Money in Pre-construction

Not every investor ‘gets it right’ because they either jumped too quickly on a preconstruction condo or they waited too long to make their move. You have already learned some highly valuable information that can be a big help when deciding on an investment in condominiums on the verge of construction commencing.
Realtors, real estate agents and brokers get the inside scoop on preconstruction condos in Toronto long before the public is made aware of them…so tip # 1 is to secure a Platinum realtor if possible, and if not, a reputable realtor to work on your behalf.
Guess what? If a developer does not hit their 75% sold margin to obtain financing for their construction loans, then they have to ‘sweeten the deal’ by offering better terms & prices on units, which of course is not advertised and only ‘whispered’ to a select few realtors!
Buying low provides the ideal option to sell high and isn’t that the point of being an investor? Many people will buy a condominium unit and at some point, down the road, sell it for whatever reason (so wouldn’t it be nice if there was a healthy profit)?

Platinum Agents Leg-Up

Let’s face it, Platinum agents are the go-to realtors when it comes to successfully buying preconstruction condos in Toronto for a wide swath of reasons:

  • They are the first realtors that developers turn to because of their abilities to sell large volumes of condos
  • These agents are a powerful force within social media outlets and are marketing wizards
  • They have sizable budgets for marketing & selling
  • They can get in on a preconstruction condo on behalf of their clients and get the best pricing/unit for their clients
  • These agents gain priority & sometimes unit incentives over all other agents in the real estate industry
  • Platinum agents can secure desirable suites & units faster for their clients

When the developer and sales team favor Platinum agents over all other real estate agents & brokers, it does make a huge difference when a condo buyer wants to get into a pre-construction condo strategically and save money along the way!

Check also

Identifying The Best Pre-construction Condo Investments

0 Comments

29 Condos 2 color logo

Let Us Show You The Depth Of Our Expertise 

With our in-depth knowledge of Toronto’s real estate market, we can help you find out what the next prime neighborhood will be to make a purchase in and whether or not it will be a positive investment with the potential for a good return or not among many other factors.

Get Advice, Find The Best Offers From Menkes Developments with 29 Condos

Recent Posts

“Currency Power Surge: How Rising Oil Prices and Strengthening Dollars Are Redefining Global Construction”

“Currency Power Surge: How Rising Oil Prices and Strengthening Dollars Are Redefining Global Construction”

Explore the impact of fluctuating commodity prices on the global construction industry, with a focus on the ripple effect of the rising crude oil prices. Learn how the strengthening of the New Zealand and Canadian dollar amidst this surge can create fiscal advantages, especially for their construction sectors. Understand the potential implications for US construction spending and the rising influence of the Australian dollar. Delve into how shifts in global currency can stimulate a dynamic market and the inherent adaptability of the construction industry.

Optimal Management of Industrial Spaces with 30×60 Buildings

Optimal Management of Industrial Spaces with 30×60 Buildings

In the fast-paced industrial sector, efficient space management is crucial for smooth operations. By utilizing 30×60 industrial space management, businesses can optimize their workflows and enhance productivity. The advantages of implementing this solution are numerous, including cost-savings, flexibility, and energy efficiency. Moreover, 30×60 steel building kits offer the durability and resistance needed for industrial use. With customizable layouts and versatile spaces, businesses can adapt their spaces to meet evolving needs. When investing in industrial spaces, it’s important to consider future growth and industry dynamics. By incorporating creative space strategies, businesses can maximize functionality and create inviting environments. Effective management of industrial spaces requires careful planning, thoughtful design, and proactive management for optimal workflow and employee satisfaction. In conclusion, embracing efficient industrial spaces through 30×60 industrial space management can drive growth and innovation in the sector.

Innovating Event Facilities: Unique Designs for 30×50 Spaces

Innovating Event Facilities: Unique Designs for 30×50 Spaces

Innovating event facilities is all about embracing new and unique designs to transform a standard 30×50 square foot area into a memorable and functional space. Steel buildings offer versatile and durable options for customization, making them a premier choice. In this blog post, we will explore unique design ideas such as a modular open floor plan concept, a multifunctional facade, compact add-ons, technology integration, and environmentally conscious design. By considering a 30×50 steel building kit, you can create an unforgettable event space that stands the test of time. It’s time to forge your own path in the world of event facilities.

Revolutionizing Accessibility: Join APN2025’s Global Movement for an Inclusive Tomorrow!

APN2025: Turning Vision into Actions to Make Our World Fully Accessible by 2025 As the world steps...

“Ontario’s Construction Revolution: Unveiling the Game-Changing Demands of Industry Leaders”

A Comprehensive Look at the Future of Construction: Stakeholder Perspectives in Ontario and Canada...

“Canada’s High-Speed Leap: Quebec City to Toronto Rail Revolution Set to Transform Economy and Environment!”

# High-Speed Rail Project Between Quebec City and Toronto Receives Green Light The long-awaited...

“Robots Revolutionizing Real Estate: Discover Canada’s Cutting-Edge Housing Breakthrough!”

Experience the dawn of robotic housing in Gananoque, Ontario where an innovative project is transforming the construction and real estate landscape. Discover how robotics and technology are being integrated to deliver superior quality housing that exceeds Ontario Building Code standards and withstands harsh weather conditions. Join the conversation on how this government-recognized initiative signifies the future of Canadian real estate and construction industry.

“Currency Power Surge: How Rising Oil Prices and Strengthening Dollars Are Redefining Global Construction”

Explore the impact of fluctuating commodity prices on the global construction industry, with a focus on the ripple effect of the rising crude oil prices. Learn how the strengthening of the New Zealand and Canadian dollar amidst this surge can create fiscal advantages, especially for their construction sectors. Understand the potential implications for US construction spending and the rising influence of the Australian dollar. Delve into how shifts in global currency can stimulate a dynamic market and the inherent adaptability of the construction industry.

Optimal Management of Industrial Spaces with 30×60 Buildings

In the fast-paced industrial sector, efficient space management is crucial for smooth operations. By utilizing 30×60 industrial space management, businesses can optimize their workflows and enhance productivity. The advantages of implementing this solution are numerous, including cost-savings, flexibility, and energy efficiency. Moreover, 30×60 steel building kits offer the durability and resistance needed for industrial use. With customizable layouts and versatile spaces, businesses can adapt their spaces to meet evolving needs. When investing in industrial spaces, it’s important to consider future growth and industry dynamics. By incorporating creative space strategies, businesses can maximize functionality and create inviting environments. Effective management of industrial spaces requires careful planning, thoughtful design, and proactive management for optimal workflow and employee satisfaction. In conclusion, embracing efficient industrial spaces through 30×60 industrial space management can drive growth and innovation in the sector.