Pre Construction is often considered a great way to invest in real estate. Namely because you are not obligated to provide the 20% deposit upfront at one time as is required in any resale or new home build (via a mortgage). Instead a builder will socialize the payment plan and the dates associated which oftentimes (but not always) spreads that 20% across several years (or more).
However, more and more end users are looking to Pre Construction as a way to secure a property for themselves in the future without of course the challenges that come with multiple offers, blind bids and offer presentations.
This has been a scenario that I am coming across more and more. Depending on the project, I actually think it is a great way to secure real estate for the future. As you may have noticed I have reached out to many of you regarding PreCon opportunities in the GTA. These are opporunites that I believe have value and I have done research on. I would love to know if upcoming PreCon opportunities is sometihng you would be interested in recieving.
I still remember when I purchased my first PreCon. I essentially just signed on a dotted line (back then there was no Docusign!) and I had no idea what was going to happen next. No really, I was not prepared nor was I told how to manage my money, what capped fees were, what an assignment clause was, etc. So rest assured, this is something I truely want to you to know and understand – I have always been of the mindset that knowledge is power and this here is no different. If you ever have any questions about PreCon or are curious about how it works, reach out and let’s chat – it would be my pleasure to educate you 🙂