New Condos For Sale in Toronto & Area
If you are searching for new condos for sale in Toronto, you’ve come to the right place! Let me make your search easier:
Toronto Neighbourhoods (Danforth, High Park, The Beaches, etc.)
Near Toronto Condos (Etobicoke, Scarborough, Vaughan, North York, etc.)
Pre-Construction (upcoming new condos in Toronto and area)
Why Buy A New Condo?
Condos in Toronto and area have risen enormously over the past few years. People who purchased only 5 years ago are seeing a huge jump in the values of their condos, so benefitting from a very high return on their investments.
With new condos, you are looking at a low upfront investment, plus you’re securing an investment that will likely be hot for years to come. Additionally, if and when you choose to sell, you will likely sell with very little effort.
The demand for condo rentals is also extremely high, which means if you are considering turning your new condo into a rental property, you could be looking at hefty profits for many years. Hundreds of thousands of people move to Toronto every year and most prefer to live in new condos, so whether it be selling for profit or to rent out, you almost always can’t go wrong with a new Toronto condo purchase, especially when using the right agent to help you.
Tips For Purchasing New or Pre-Construction Condos in Toronto or the GTA
- Buying a new condo in Toronto or the GTA is often a long term commitment, so you want to take the time to ensure you are making an investment that will make you the most profit long-term, while also giving you a place to live (or rent out) that you will enjoy for many years!
- Did you know that the time of year you purchase a new or pre-construction condo affects your purchase price? As the real estate market is slower during the winter months, you very likely will have more negotiating power and be able to get a much lower deal in the winter than if you purchased during the hot spring market.
- Begin with Google searching terms such as “new condos for sale Toronto” or have a look at our current new condo listings direct on this website!
- Buying a pre-construction condo often means you can appreciate a huge savings, but did you know that the earlier you purchase, the lower the price will be?
- Many people are hesitant to purchase pre-construction because build delays and other unexpected events can occur, plus, you are purchasing without the luxury of viewing the completed unit, amenities and common spaces. BUT this also means you are paying less for taking on more risk.
- It is always wise to do your research on the builder, view some other properties they have built, check their reputation, and so on. These things will give you piece of mind in the investment you are making. A good agent will ensure to do thorough research for you.
Interest Rates for Pre-Construction Condos
Interest rates are once again predicted to drop. When that happens, housing and condo prices usually go up, as there is more demand in the market. So while you’ll be saving money with your lender, you need to pay out more than anticipated. It is smart to speak with financial experts and advisors for any sizeable investments.
Choosing The Location of Your New Condo
If you don’t currently live in Toronto, it is wise to ensure your real estate agent does. Location is everything. What are the future development plans for the area? Is transit nearby? What’s the general reputation of the area? Is there shopping nearby? These are all the things that will ultimately help you rent or sell in the future.
Living in Toronto
Toronto is the largest city in Canada and one of the safest cities in the world to live! People can enjoy theatre, arts, world-class food, events and more, in addition to lushly forested paths and greenery.
Toronto is one of the most multi-cultural cities in the world! Walk down any street and you will hear a variety of different languages spoken, or restaurants and shops representing a variety of different countries. Toronto has become one of the most desirable places in the world to live, especially for young professionals.
Other Things To Consider When Purchasing A New Condo:
Condo fees: Condo fees can be quite substantial, so it’s important to know what they are ahead of time, how much they may go up per year, and everything that is included in them.
Platinum VIP agents: These agents are the first to get access to pre-construction condos, after of course, the developer’s own contacts.
Why Use An Agent? You may be tempted to go directly to the builder, however, just remember that an agent will prioritize your needs and wants and work to get those, and the best price for you. Agents are also invited to special VIP events, so they can get you access to the best models and pricing, things not usually available to the general public.
Where to Get Help
When searching for an agent to work with, we suggest working with someone in the Toronto area, who can give you local advice. Also, work with an agent specializing in new condos for sale in Toronto and who has the background and experience it takes to get an investment that will benefit you for years to come. Adam Tao is such an agent. Connect with Adam today and find out more!