Let's take a look and highlight some of the main features in some of these launches!
This month has been pretty crazy with the release of so many good developments, and more to come as we've just started the last quarter of the year. I've always looked at Condos from a Quarterly perspective because you don't really see a dramatic change in real estate prices daily, however each quarter you start seeing that price increase. Which is why when your shopping around for a Resale Condo shop quarterly... not annually. If today you start looking at properties don't take 6 months to buy, maximum 3 months.
Why do you think when you go to the bank to get your pre-approval they only hold the rate for 90 days (3 months)? Because in most cases there is a change in market prices, bank rates, big announcements and such, every quarter.
So the same rule applies when shopping for a PreConstruction Condo. However, if you're looking to buy Pre-Construction, then I would strongly suggest to shop in the moment.
Here's a question, When shopping for a PreConstruction Condo do you: A. Go Online. Look at the neighbourhood that you really want to live in, wait for that HOT development to come out and Register? or B. Do you have a Budget in mind, and see what your options are today?
Most of the time it's A, and it turns out to be a disappointment. You waited so long, months and months and sometimes a full year, prices have gone up, and that Condo that you really wanted is now way out of your price range. Not only that, you were totally unprepared and unaware of the purchase process. You CANNOT shop like that!
You actually lose out on tons of money that you could be making.
These are Pre Construction Condos. It doesn't matter which one you buy ( as long as they're all good developers and good projects) stick with your price range and stick with the moment of looking. At the end of the day... you are all waiting 4-5 years for that condo to go up and be completed anyways. In 4 to 5 years, you could have a different job or different circumstances. You could have purchased that Condo in that area that you didn't want to live in, but made a crazy return because that area also increased in market value 15% year over year. Sold it when it was finally ready and now had enough money to buy the HOT Condo you really wanted or better yet, getter a bigger one. That will be a topic on another Blog.
If you're shopping around Pre Con right now take a look at all your options today. See what the prices are. Check out a few options. If you're already telling yourself that the prices are too high, what do you think the next month of launches are going to be? Cheaper?? Never! Trust me a Developer would never even launch if the opportunity brought him a cheaper market. Think about that! Pre Construction prices are generally 10-15% higher than resale. This is normal. if year after year the market consistently keeps to a minimum 10% annual increase, then by the time your condo is built it will have already increased in value by 40-50% or more, because some areas increase in value more than others.
But for now, check out the latest Toronto Pre-Construction Condos Fall 2018 Lineup:
#1 | PROJECT| 543 RICHMOND
DEVELOPER: Pemberton
LOCATION: Richmond + Portland. ( 1 Block South of Queen West)
SUITE TYPE SIZE RANGE PRICING FROM
1 Bedroom 460-540 sf $589,990 - $605,990
1 Bed+Den 520-805 sf $718,990 - $748,990
2 Bedroom 635-880 sf $733,990 - $753,990
2 Bed+Den 800-920 sf $838,990 - $929,990
3 Bedroom 820-1,015 sf $958,990 - $877,990
3 Bed+Den 1,045 sf $1,067,990
PARKING: $79,000
DEPOSIT STRUCTURE: ONLY 10% DOWN The First year:
$5,000 on Signing, Balance to 5% in 30 Days
5% in 120 Days
5% in 425 Days
5% in 540 Days
5% On Occupancy
Total 25%
ESTIMATED OCCUPANCY: MAY 2022
#2 | PROJECT| SCOUT CONDOS
DEVELOPER: Graywood
LOCATION: St. Clair West | Weston Pallam Park | Toronto
SUITE TYPE SIZE RANGE PRICING FROM
1 Bedroom 425 - 610 sf High $300's
1 Bed+Den 570 - 733 sf Low $400's
2 Bedroom 692 - 856 sf High $400's
2 Bed+Den 888 - 1,241 sf Mid $600's
Townhome 1,130 - 1,206 sf Low $8800's
PARKING: $40,000, not included in Purchase price.
DEPOSIT STRUCTURE: 15% DOWN The First year:
$5,000 on Signing, Balance to 5% in 30 Days
5% in 90 Days
5% in 270 Days
5% in 540 Days
Total 20%
ESTIMATED OCCUPANCY: MARCH 2022
#3 | PROJECT | EVERMORE
DEVELOPER: Tridel
LOCATION: West Mall | Etobicoke | Toronto
SUITE TYPE SIZE RANGE PRICING FROM
1 Bedroom+Den 672 sf $503,000
2 Bedroom 784 - 1,089 sf $570,000 - $864,000
3 Bedroom 988 - 1,229 sf $719,000 - $849,000
PARKING: INCLUDED in Purchase price.
DEPOSIT STRUCTURE: 15% DOWN The First year:
5% Due on Signing
5% in 120 Days ( 4 months)
5% in 270 Days (9 months)
5% in 420 Days ( 14 months)
Total 20%
ESTIMATED OCCUPANCY: WINTER 2022
#4 | PROJECT| BIG KING
DEVELOPER: Westbank Corp + Allied Properties
LOCATION: 489-539 King| Etobicoke | Toronto
SUITE TYPE SIZE RANGE PRICING FROM
Studio 533 sf Mid $600's
1 Bedroom 535 - 1,280 sf High $700's - over $1M
1 Bedroom+Den 711- 914 sf Low $900's - over $1M
2 Bedroom 853 - 1,156 sf $1.3M - over $1.8M
3 Bedroom 1,132 - 1,896 $1.7M - $2.3M
3 Bedroom + Den 1,517 - 1,896 sf $2.3M - $2.5M
Penthouse 2,569 - 3,870 sf $3.9M - over $7M
PARKING: NOT INCLUDED in Purchase price. $100,000 - Available for 2 Bedroom Suites & Up.
DEPOSIT STRUCTURE: 15% DOWN The First year:
5% Due on Signing
5% in 120 Days ( 4 months)
5% in 270 Days (9 months)
5% in 540 Days ( 18 months)
Total 20%
ESTIMATED OCCUPANCY: SUMMER 2023
To REGISTER for this project specifically email me here.
Thats's it for now. More Blog posts to come!