FOR INVESTOR INVESTMENT

if you're an investor who can wait 3-4 years to see a profit, and doesn't need cash flow right away. It's an excellent route to building that passive appreciation, without actually paying a mortgage. One of the reasons why investors choose preconstruction condos is the deposit structure. They can put down 20% of the value of the condo, but they earn appreciation on 100% of the value of the home for the next 3-5 years. They also don't have to worry about taxes, maintenance, mortgage payments, insurance, and tenants. You should always buy new pre-construction condos when you're buying for investment. This is something I've been teaching for many, many years and this is something that is still true. The reason is condos are commodities. Something as a commodity like a condo, people always want the newest and the latest thing.

With the high demand for rental properties in many areas, pre-construction buyers can purchase a property with the intention of renting it out once it is completed. This can provide a steady stream of income as well as a potential long-term investment that can appreciate in value over time. Condos are perfect for investors because they pay for themselves with rent each month. Most condos are rented long-term, so you don't have to worry about finding new tenants each year. Moreover, you need not worry about maintenance or repairs as the association usually takes care of it (if there is one).

Purchasing a resale unit involves buying a unit from the current owner rather than from the developer. Make sure you tour the property, understand what is included in the purchase price and review the condo corporation's governing documents before you buy. The governing documents provide details on how your condo fees are calculated, who is responsible for repairs and maintenance, how the corporation runs elections, as well as restrictions on smoking, short-term rentals and pets.