Why buy a presale condo?

Presales condos are very popular in Victoria now. Often times Victoria Presales sell out before the general public even has a chance to buy them.

Advantages of presale condos.

  • Brand new buildings covered with warranty. 2/5/10 year warranties give you hassle free living.
  • If you get in before the general pubic, you can score the best unit with the best view.
  • Choice of finishings and special requests (depending on builders)
  • Great investments. Depending on the assignment clause, you can sell your condo before you take possession.
  • Better pricing. Not always, but developers sometimes offer below market prices if they need to raise capital.

Disadvantages.

  • The wait time. Often buildings begin selling even before excavation begins. It can be 2-3 years before you take possession of your condo.
  • You don’t get to see the space in person. It may not be as large as you imagine, or the view may not be as impressive. The Showrooms give you an idea, but it’s not the real thing.
  • Big upfront deposits. 15% down is not uncommon.

For more information, and for up to the minute alerts when presales start please contact me.