Are you in the market to buy a condo off plans, i.e. pre-construction?
Make sure you ask at least the next 3 questions…
Many cities have new real estate projects going up. Some have complete cities going up; building after building being erected. Some cities can handle the growth and others can’t.
How do you know if you should buy a brand new condo? What are the risks? First off, is it an investment? Will you be moving in or will you be renting it out?
Whatever the answer, don’t just look at price. The quality of the construction is very important, as is the reputation of the builder. There are so many new developers out there and they don’t necessarily have the experience. They may have the cash to build, but what kind of materials are they using? Who is their architect? Who is the actual builder?
In the next video, I list 3 important questions I feel you should be asking a developer or their salesperson before agreeing to purchase:
- How many phases will be going up?
- What will be the net square footage?
- What are the hidden costs?
Don’t forget that the realtor you choose to represent you on the buying side will help YOU and will be at no charge to you. Use one!! You won’t be sorry!!!
Monique Assouline has been selling real estate all over the city and off island since 2005. You can reach her at firstname.lastname@example.org