How to Buy Your First Preconstruction Property (Step By Step)

Do you want to know how to buy your first preconstruction property? In Todays video, You will learn the step by step process in investing in a preconstruction property in today's real estate market. It begins with your down payment. When investing in a prebuilt home / preconstruction property, builders will require 20% down.

This is not mandatory in resale homes but in preconstruction it is. Knowing your budget is next because this will effect your living space and location when investing in a preconstruction property. This will also relate to your down payment and if its possible to get financing for the preconstruction house after the development is complete. Step number 2 is selecting the unit.

Every Floor is a $1000 premium. Aside from the floor, your view is also a big factor in your price tag. South facing is typically the most desired but north being the least. Checking to see if your preconstruction unit is close to the garbage chute

You want to check that the builder is reputable. this will prevent major complications that can occur down the line. Some builders have a past of cancelling projects or not performing to standards.

Does your preconstruction property need parking? Depending where in the city, this can have a very large price tag. If you are investing in downtown Toronto preconstruction then parking can cost over $50,000. This may be a different case if you are in the suburb areas in the GTA Real estate market.

Utilities can be either embedded in your Maintenance or metered separately. The preconstruction condo that offers luxury amenities can also impact you maintenance cost monthly.

Interested In the Toronto Real Estate Market? Send me an email to discuss possible investments or to Buy & Sell! nav.rashids@gmail.com

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Видео How to Buy Your First Preconstruction Property (Step By Step) канала Navid Rashid