Identifying The Best Preconstruction Condo Investments
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 Three Golden Keys to investing In Pre-construction Condos
Approach a pre-construction condo that you have learned about with three, highly focused bits of criteria:
- The developer…who is it?
- The location…it is premium or prime with loads of potential?
- The value…do your homework on the area!
These three pieces of criteria will save any investor money, time and effort before and after the investment. Investors want to maximize on the investment at the time of resale and to help you along is a savvy breakdown of each of the golden keys.
Believe it or not, this three-part information bits is nothing new…real estate agents have applied this savvy logic for many years, kind of like realty 101 for beginners.
If your intention is to rent any or all the condo units you buy, then you will have a steady stream of income, depending on your ability to pick the best preconstruction assigment condos. More and more people want to obtain the ‘work, live & play’ urbanistic life, so newer developments that incorporate this ideal will most likely benefit and pique the interest of the future buyer.
The Developer Difference
Every well known developer brings something unique to the table with their projects (certain architects, interior designers, landscape architects, construction companies, etc.) and it is these differences that can make or break an investment with a preconstruction condo.
Of course, there is a few developers that have excellent reputations and offer a smorgasbord of great additions to their preconstruction condos in GTA that are highly desirable…which makes them very popular amongst investors. Some of the top developers include:
Daniels Homes/Daniels Group/Daniels Corporation
Canderel Residential
Plaza Corp.
CentreCourt Developments
Liberty Development
Bazis International
Cresford Development Corporation
Concord Adex
Sugar Wharf Condos
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TARION Awards of Excellence and The Homeowner’s Choice Awards
If you want to know more about any developer, you can personally check them out through TARION, which is a third party warranty corporation that oversees issues & complaints about any single developer. The goal here is to understand what makes a developer reputable and TARION does award developers that consistently build ‘spot-on’ condominiums. These awards are the TARION Awards of Excellence and The Homeowner’s Choice Awards.
TARION provides information about developers that outlines how many homes that developer has built in the past 10 years and if there are any claims registered on them (via the Ontario Builder Directory).
Checking Developers Through The BILD
Another means of checking out a developer is through the BILD (the building industry and land development association), as this division of ‘peers’ honors the best developers for each year.
Reputable developers sometimes have in-house architects & interior designers, have their own builders & construction team and some even have their own landscape architects and this lends to their individual personalities.
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.
