Are you in the market for a new condo? If so, you may be wondering about pre construction condos. What are they? How do they work? And, most importantly, are they right for you?
What should I know about this?
Here’s what you need to know about pre-construction condos:
– These condos are properties that have not yet been built.
– Purchasing a condo gives you the opportunity to buy at today’s prices, even if the property is not completed for years.
– You will likely need to make a deposit (usually around 20%) in order to reserve your spot in line for the building.
– The developer will assign you a unit and floor plan, and may also give you some choice regarding finishes.
– In most cases, these condos offer great value because they are priced lower than comparable finished units.
We hope this information has been useful to you.