When investing in residential real estate, you have the option of either purchasing a resale property (i.e. someone else has owned the home before) or buying new construction from a project that has yet to be built
Whichever one you decide to purchase, we offer extensive follow-up services that range from listing & renting out the home to property management so you can start generating income on your new investment!
When we are helping a client purchase a resale property for investment purposes, we approach the transaction much the same way we would if you were to live in the home yourself!
We look closely at the area, amenities, finishing’s, future plan’s for the neighbourhood + so much more.
Can physically see & touch the property that you are purchasing
Able to look at comparable properties in the surrounding area to establish accurate rental values in today’s marketplace
Typically have a quicker closing so you can start to earn revenue faster on your investment vs. new construction where you have to wait until the property is built to start generating cash flow
If the property is already tenanted, you will have to assume the tenant at the current rate they are paying
Sometimes needs more repairs & renovations depending on the age of the property, how well it has been taken care of, etc.
More money required up-front as the closing period is often much faster
The difference between purchasing resale & new construction (especially for condo’s) is obviously that you can’t physically see what you are purchasing, so we rely heavily on our research of the builder & developer, intense scrutiny of floor plans/renderings and future area mock-ups to get a better sense of what you are actually buying!
Can determine whatever rental price you want as the property is vacant upon your possession
Able to purchase a brand new property that no one has ever lived in with the most up-to-date finishing’s & amenities
Take advantage of a longer deposit structure if you don’t have all the funds available right now
Not able to physically see the property when you purchase it due to the fact that it hasn’t been built yet
Often very little control if the builder decides to make any changes to the property
Can sometimes be waiting additional time (beyond the initial occupancy date) to take possession due to construction delays, etc.
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New Construction | Condo Developer’s
Choosing a builder with a trusted reputation, proven track record & high-quality standards is essential for ensuring that your new construction purchase stands the test of time!
We see far too many new buildings fall into degradation after only a couple of years of occupancy, so we have created a list of builders, developers & property management companies that we know strive to give their clients the best, just like we do!
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