Many investors have gained a lot of profit by investing in Pre-Construction Condos in Toronto and Vancouver, but it has many pitfalls that new home buyers are not aware of. Only experienced investors can take a risk who don’t mind going in a loss, but if you want to take this risk you should be fully prepared and make your due research. Pre-construction condos can be bought at only 15% down payment and you can decide the layout and flooring of the condo you have purchased, the condos develop gradually over a period of two or three years. But, the main thing is would the construction be completed on due time or would it lag? You can never be sure when would be the due time of completion, also you are never sure whether the market value of the condo you have bought will increase over time or not. There are many factors that affect real estate prices; housing market in the US has seen a great low and many investors went into loss, so you should be ready to take this risk as many uncertainties are involved. But, if the builder has a good reputation and the construction company is really popular, you can expect a good return on your investment. You can buy pre-construction condos at today’s price and even less if you get it on sale, and watch the prices go up and down over the years, but, not a smooth journey it is. There are many things involved in it, the reputation of the builder is the most important factor, and this will determine whether the condos would get completed in the given time or not. It can even result into your money getting stuck and the construction of condos being delayed for various reasons. If the luck is with you, you can get a strong turn over on your investment.
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