If you're an investor who can wait 3-4 years to see a profit and does not need cash flow right away, pre-construction can be an excellent route to building passive appreciation without immediately paying a mortgage. Investors often choose pre-construction condos because of the deposit structure: they can put down 20% of the value but earn appreciation on 100% of the home value over the next 3-5 years.
With high demand for rental properties in many areas, pre-construction buyers can purchase with the intention of renting once completed. This can provide income and potential long-term appreciation. Condos can be attractive for investors because rental income may help cover monthly costs.
Purchasing a resale unit means buying from the current owner rather than directly from the developer. Tour the property, understand what is included in the purchase price, and review the condo corporation's governing documents before buying.
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