Three Options to Buy Toronto Condos

Many people do not realize that investing in Toronto Condos is time-sensitive action. Blink, and the opportunity is gone. here is a simple description of the three main opportunities to buy a condo. For detailed info see “Seven Stages of Condo Investing“.

Always use a Realtor, it won’t affect your purchase price and we may be able to get you a better deal.

Option 1: Buy from Plans

  • Use a Realtor to guide you through the process.
  • You’re buying from the Builder, not from an individual
  • First-time home buyers NOT in effect
  • Downpayments up to 25%
  • Occupancy fees in effect
  • Closing costs in effect
  • Longest wait, yet most appreciation (in an uprising market)
  • Option to Assign/Flip you contract

Option 2: Buy a Contract Assignment / Under Construction

  • Use a Realtor to guide you through the process.
  • You’re buying from an individual, not from the Builder
  • First-time home buyers NOT in effect
  • Downpayments are previous buyer’s + markup (highest)
  • Occupancy fees in effect – check for limitations
  • Closing costs in effect – check built-in caps
  • Move in Now or very soon

Option 3: Buy from Individual / Re-sale / Exisiting Building

  • Use a Realtor to guide you through the process.
  • You’re buying from an individual, not from the Builder
  • First-time home buyers in effect
  • Lowest downpayments – in accordance with your lender
  • No Occupancy fees
  • No original Closing costs (was paid by former owner)
  • Move-in now

Confused yet?

For additional information, contact us, or visit the Investing category page.

Yossi

Yossi Kaplan is a Toronto Real Estate Agent, Mortgage Agent and a Real Estate investor. Call Yossi with any question regarding investing in and selling your Toronto Real Estate.

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