Why Should You Buy A Pre Construction
Since the pandemic, home prices in he GTA has been sky rocketing literally.
The impact is mostly on the new buyers or first time home buyers, those who do not have hefty down payment to make to buy an expensive property.
The average home price of a resale detached home has gone past million dollar in year 2020. What it means to buyers is, they will have to make at least twenty percent down payment as per the financial industry guidelines. This is a big number, especially when you pass out of university and have even to pay off your study loan.
Also Read on Buying an investment condo
In contrast to resale homes, pre construction condos or homes, gives an opportunity where payments are staggered over a period of time. This makes it more interesting and affordable.
This is the one reason, pre construction condos have attracted more buyers in 2020 and there is a big shift.