Just like lived-in properties, buying pre-construction developments come with a myriad of details and considerations. If you enter the market without a highly-qualified expert, you may have a stressful and less successful buying experience.
In a wide housing market like the GTA, new options and developments are constantly emerging. Working with a Realtor® will not just help you locate and assess potential properties, but their knowledge, professional network and negotiation skills can support your buying goals all the way through.
If you’re serious about buying pre-construction, you’ll want to work with an experienced, high-qualified Realtor®. Discover how to choose the best professional for your purchase here.
More Selection Than Meets the Eye
Like lived-in homes, finding a pre-construction property that meets all your needs isn’t easy. By working with a Realtor®, you can make the process more enjoyable. In addition to doing the homework for you, a Realtor® can also increase the selection of properties available.
In the GTA, a well-established Realtor® will have access to new or upcoming pre-construction developments that aren’t yet available to public buyers. This gives you the opportunity to maximize your chance of finding a property that checks every box on your wishlist.
A Realtor® will assess your individual “must haves” and “want to haves”. Next, they’ll analyze all on-market and off-market developments to zero in on the best properties for you.
Dreaming of buying a condo in the GTA? Read these helpful blog posts before you navigate the market.
Understanding Access Levels
One important factor of pre-construction purchases that all buyers should understand is access levels. As a buyer, your transaction will change depending on the access level you buy at. In most cases, earlier access levels mean a better price and other property-specific advantages. Access levels come with a myriad of details and can be difficult to assess. This is especially true if you are looking at or considering properties from a multitude of developers.
An easy way to navigate through the various access levels is by working with a Realtor®. They can summarize the crucial details of each access level and frame the information in a way that works for you.
In some instances, a Realtor® may even be able to offer you an earlier or exclusive access level based on their relationship with the developer or greater industry network. This is just another example of how working with a Realtor® makes a big difference during a pre-construction purchase.
Buying Power
Most buyers don’t realize that pricing on pre-construction properties isn't always cut and dry. Just like the traditional real estate market, there’s an opportunity for negotiations during a pre-construction transaction. As a buyer, you’ll want to use every advantage you can to make the purchase as successful for you as possible. Working with a Realtor® can help you do just that.
During the transaction, a Realtor® can present you to the developer as a qualified, preferred buyer and if necessary, reference nearby or past developments to help you get the best price. They may also utilize their existing relationship with the developer to secure additional bonus perks, such as a parking space or upgraded appliances.
With rising interest rates It’s more important than ever to consider each detail of your mortgage. To know more, have a look at these blog posts.
Your Dedicated Advocate
If you live in the GTA already you know that construction projects can often take longer than expected. As a buyer, there’s a small chance you may experience delays with your pre-construction property. If you find yourself in this situation, it’s helpful to have a Realtor® at your side.
With your experience as their top priority, a Realtor® can guide you through the delay period step by step. In most circumstances, you will be entitled to financial compensation, and they’ll work exhaustively to ensure you receive every penny and perk you’re owed. A Realtor® can also assist you in finding temporary rental housing should a delay conflict with your sale or lease.
Are you thinking about buying a pre-construction home and in need of a trusted Realtor®? We can help you! Get in touch.
