Depending on how much time you have and what your long-term investment strategy is for buying a condo (e.g. living in it yourself or renting it out), you may want to consider buying a condominium that’s not complete yet.
One of the biggest advantages of buying a condominium pre-sale is that you can save a lot of money. Prices rise as the development is built, and as soon as the condominium is developed and becomes ready to move in unit sales will hit their premium. Buying in the pre-sale phase will allow you to take advantage of all the promotions that developers are dangling to ensure that the condo will fill up as soon as possible.
If you are someone who is looking to buy many units at once to become a landlord, it is assumed that you are willing to commit to this lifestyle and lucrative opportunity for many years. You will save a very sizable amount of money if you can be patient and wait for the building to be completed, rather than try to buy a whole bunch of units when the building is already complete.
If you are serious about buying a condominium to live in but haven’t come across the absolutely perfect unit yet, you will love the flexibility that a pre-sale condo will offer you. As the buyer, you can customize it as you go to make the condo fit your tastes perfectly. There will be much less of those “I would love it, if it weren’t for that terrible tile in the bathroom” kinds of moments. If you want the floor to be hardwood instead of tile, this is you opportunity to say something and get it looking right the first time around. A pre-sale condo maximizes the time you don’t have to think about maintenance work, allowing you to get used to being a resident or land-lord for this particular property, stress-free.