Many people are often inclined to buy resale condos as they are readily available, however buying any pre-constructed condos can always be a much smarter choice than buying resale condos.
Following are few good reasons for buying pre-constructed condo.
Condos are like commodities
If you decide for resale condo then you do not have much choice however with pre-constructed condos, you can get condos as per your design and you can renovate it in your own way. Besides, you will get constructions based on latest technology. Also, the rate at which you will buy a pre-constructed condo will be much lower than readily available condo.
Easy to finance
You can easily book for GTA pre-construction condos by paying 5 per cent payment and balance you can pay as the construction progresses. So, you will never be under much financial strain and still become an owner of a condo.
No mortgage payment immediately
Since you do not get possession of your condo immediately so you do not become owner of the condo and hence your mortgage payment will not start. Once you get full possession of the condo after few years, you can easily pay your mortgage as your income will also rise by then.
Developers are looking for you
Developers also look for more buyers of pre-constructed condo so that they get sufficient funds in hand to start the project, so that city developmental activities also can become faster.