Pre-Construction Condo contracts.-->Yes ? No?

With all the pre-construction condos being advertised right here in Burlington / Hamilton and Oakville, are these good investments?

Would you recommend putting the $20,000 down, holding until it is built and then re-selling the contract? (could be 2 years or longer)

I have heard a few people doing this and making a profit.

Or, complete the purchase and turn it into a rental unit once it is built?

Comments for Pre-Construction Condo contracts.-->Yes ? No?
Yes ? No? -->

Click here to add your own comments

Oct 17, 2012
RE: Pre-Construction Condo Contracts...
by: Tom Karadza

We'll give your our personal opinion.

Buying new construction is "speculative" becasue you don't know the state of the local market when you close on the property in 2 years.

We prefer resale properties because we don't have our money tied up and can have it working for us right away.

Our family had a really BAD experience with buying new constructions back in the early 90's when the market changed quickly.

So we're definitely biased!

Thanks for the questions!!


Click here to add your own comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Submit A Question.


  Some Cool Free Stuff...

  Step 1:

Grab a free digital copy of our real estate investing book, Income  For Life For Canadians, right here. This book has been downloaded over 22,597 times and has helped hundreds of investors kick-start their investing with simple and straight forward strategies that you can implement right here in Canada.

You'll also receive our weekly [Your Life. Your Terms.] email newsletter with the latest investing updates and videos.

  Step 2:

Free Weekly Investing Videos & Articles: Get the latest updates and join the over 10,000 other Canadians enjoying the weekly [Your Life. Your Terms.] email newsletter. The email is sent out each Thursday. And as a little bonus we'll give a FREE digital copy of the book, Income For Life For Canadians, too!

Your Life. Your Terms.

  Step 3:

Free LIVE Investing Class: Do you live in the Greater Toronto or Golden Horseshoe Area? Come out to our next introductory "Investing in Nice Homes in Nice Areas" Real Estate Class.

Get all the details by clicking here.

It's 90-minutes and you'll learn a ton - promise!Thousands of investors have now joined us for this class and the feedback has always been amazing.

Click here to get book

This book has been downloaded over 22,597 times and has helped hundreds of investors kick-start their investing with simple and straight forward strategies that you can implement right here in Canada.

  Click here to subscribe