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:
- 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
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
Getting Started: The Perfect 16×20 Entry-Level Workshop
Setting up your first 16×20 workshop can be exciting yet overwhelming. Before diving into tool shopping, it’s crucial to assess your workspace needs to ensure a tailored setup. Consider a steel garage for its durability and resistance to weather damage. Choose a layout that maximizes your available space and promotes efficiency in your workflow. Invest in essential tools like a sturdy workbench, lighting, and a variety of hand tools. As your projects expand, explore larger options like a 24×40 workshop or an all-purpose 20×40 design. Lastly, prioritize safety with precautionary measures and regular maintenance. Remember, your workshop should align with your needs and spark your creativity.
Investment Scaling: Mastering Growth with 60×100 Buildings
Are you struggling to keep up with the growth of your business? Investment scaling is a crucial strategy to ensure that your investments can support your expanding operations. One effective method of investment scaling is by adding a 60×100 building to your arsenal. These sizable constructs serve as the perfect guide to investment scaling, providing ample space to accommodate business expansion. In this article, we will explore the advantages of 60×100 steel buildings and how they can revolutionize your business growth. These versatile structures can be customized to meet your unique business requirements and offer immense storage capacity, allowing for increased operational efficiency. Additionally, large steel buildings can accommodate multi-functional areas, eliminating the need for additional leased or purchased property. With their durability, cost-effectiveness, and customization possibilities, steel buildings are a game-changer for your investment scaling strategy. In conclusion, the versatility of 60×100 steel buildings, combined with effective storage optimization techniques, can create a bulletproof investment scaling strategy for your business.
Embracing Diversity: Applications for a 24×40 Workshop
Looking for the perfect workspace that offers versatility and customization? Look no further than a 24×40 workshop. These structures provide 960 square feet of space and can be tailored to suit any application. Whether you need an art studio, a garage for your classic cars, or a woodworking shop, a 24×40 workshop has you covered. With the option for pre-engineered kits or quick setup options, construction is made easier. Plus, the durability of these workshops ensures they will stand the test of time. So, embrace diversity and flexibility with a 24×40 workshop and unlock endless possibilities.
“Revolution on the Road: Nevada’s Cutting-Edge Tech Paves the Way for Safer Highways!”
Nevada leaps forward in highway safety using real-time alert systems developed for truck drivers. This digital platform offers advanced warnings regarding extreme weather, notable events, and major construction projects, specifically in the Las Vegas area – a key junction for travel and commerce between Mexico, the USA, and Canada. The system, aimed at reducing accidents and boosting efficiency, signifies Nevada’s commitment to highway infrastructure and the critical role of truck drivers in maintaining cross-border trade operations. These significant advancements are anticipated to resonate positively within the transportation, construction, and real estate sectors in the region.
Expansive Commercial Structures: Leveraging 40×60 Spaces
Looking for a versatile space that offers flexibility without limitations? Look no further than the 40×60 expansive commercial structures. With a design that combines strength and beauty, these steel building kits provide an impressive 2400 square feet of space for a variety of commercial activities. And the durability of steel means these structures can withstand even the harshest weather conditions. But the benefits don’t stop there. Investing in a 40×60 structure is a strategic move that can provide long-term returns, while optimizing the space for agricultural efficiency can increase productivity. With endless possibilities and customization options, the 40×60 steel building kit is the ideal solution for all your commercial needs.
All-Purpose Solutions for a 20×40 Facility
Unlock the Potential of 20×40 Facilities for Diverse Applications
From garages and workshops to warehouses and gyms, all-purpose designs for 20×40 facilities offer functional spaces that cater to various interests and commercial needs. But why are these facility designs gaining viral traction? And how can you make the most optimal use of a 20×40 structure? Let’s dive in and uncover the uniqueness of these versatile architectures.
One of the most pivotal parts of setting up a 20×40 unit is choosing the right design. With a range of potential applications, it can be challenging to nail down the optimal layout that suits your specific needs. Whether it’s a personal garage, a commercial warehouse or anything in-between, having an all-purpose design for your 20×40 facility can work wonders.
Imagine if you need an adequate space to store your vehicles, tools, or other personal items. A 20×24 garage kit can provide you with a secure, weatherproof solution tailored to shield your possessions from outdoor elements. The package equips you with an efficiently designed steel garage, providing ample space and exceptional durability.
The promising facet about the 20×40 structure is its freedom to customization. You have the liberty to tweak the design to accommodate your aesthetic preferences and functional demands. The all-purpose design makes it possible to transform your facility into an art studio, a gym, an office, a workshop, or even a mini storage warehouse.
All-purpose designs pave the way to accommodate massive projects
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.
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!
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