Real Estate Knowledge to Make an Informed Decision
We know that if you’re considering a real estate purchase, you probably have a ton of questions. You might want to know exactly when you can move into your condominium suite and what happens during the pre-construction and construction process. You might want to know where the best neighbourhoods are to invest in. Or, you might want to know why you should bother using an agent at all, when you can just head over to the on-site office and buy directly from the developer.
At GTA-Homes, we get asked these types of questions all the time and we know how important it is for you to feel like you have enough knowledge to make an informed decision. After all, there are so many options! Should you buy a downtown high-rise or a boutique building farther away from the core? What’s a better option for an income property, a one-bedroom or a two-bedroom? What direction of exposure is better for re-sale value? What happens if your building takes longer than expected to be constructed?
This is why we’ve put together a comprehensive package of info pages, where you can find answers to some of your most pressing questions about the Toronto real estate market. Here, we’ll address some common issues that our clients bring up. Still need clarification? Give us a call or send us a message and we’ll be happy to chat.
Most Frequently Asked Questions
Think about how nice it is to own something new. A lot of people prefer to buy brand-new, whether it’s a new car, a new phone, or a new home. People are attracted to the latest, most modern things in life. Think about how nice it would be to own a condominium suite that nobody has lived in yet, and use amenities that are freshly-installed.
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Why Buy With A Platinum Agent
In the pre-construction market this is especially important, and in fact you should be working with Realtor who is knowledgeable in the pre-con market, a Platinum Agent. If you’re thinking about buying a pre-construction condo, you’ve probably already heard this term. This is the number one piece of advice we tell ….
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Places To Grow Act
If you’ve ever looked around your city and wondered why and how all these condominium buildings under construction began popping up, you should know that a large part of it comes back to Ontario’s Places to Grow Act, which was legislated in 2005, followed closely in 2006 by the Growth Plan for the Greater Golden Horseshoe.
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Interim Occupancy and Final Closing
Buying a pre-construction condominium in the GTA is a little different than purchasing a re-sale unit. There are a few more steps involved, including two different closing stages, known as the Interim Occupancy phase and the Final Closing phase.
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Assignments
Simply put, it’s the sale – or “assignment” – of a contract to purchase a pre-construction condominium suite. It usually means that the building has not been completed yet and no one can take ownership, so only the contract can be sold, not the actual unit, as it hasn’t been constructed yet.
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Steps To Buying A Pre-Construction Condo
If you’re interested in purchasing a pre-construction condo it’s always good to know about the process beforehand. This way there are no surprises. Buying a pre-construction condo is a little different than buying a re-sale condominium. There are more steps involved ….
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Renting vs Buying
If you’ve ever rented a dismal apartment, followed Toronto real estate, or felt like you’ve spent too much time in your parents’ basement, chances are you’ve asked yourself the question: Should I rent a home or buy a home? This is a decision most people face and it’s not one to be taken lightly. The good news is ….
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Condo Investments
The number one question we get asked from clients is “Why invest in GTA condos?” This is often followed by: “What’s the market like right now?” “What does the future hold for condo developments in the GTA?” “ What are the risks and returns?We’ll do our best to address these questions …..
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Pre-construction Condo Closing Costs
Buying your first condominium, whether you’re planning to call it home or use it strictly as an investment property, will probably be one of the biggest financial commitments you ever make.At GTA-Homes, we’re keenly aware of this and we want to make sure you feel confident in knowing exactly what you’re …
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Average Price of a Condo in the GTA
The average price of a condominium apartment in the Q3 2016 was $415,643 – up 9.6 per cent compared to Q3 2015.
The condo market in Downtown Toronto is benefiting from strengthening fundamentals such as employment and population growth, but also quickly eroding affordability and intense competition in the ownership market.
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New Condos in GTA
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Learn More About The GTA Real Estate Market
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GTA-Homes Team
Whether you're moving across the city, across the country or around the world, we have the expertise, knowledge and the resources to make your next move exciting and successful.
