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If you’re looking for new condos in Montreal, you have to learn first when is the right time to buy. Most home building experts would suggest that you should buy condominiums in its pre-construction phase because the benefits outnumber the risks. Typically, during this stage, they offer competitive pricing to raise more funds to complete the whole building faster.  Aside from that, you can choose your floor size or lot, and possibly customize your home based on your personal preferences.
According to Barbara Lawlor, CEO of Baker Real Estate Inc., buying a condo at the right time is the key. This is especially true when you choose to buy late during a marketing cycle. Because when you sign at the end of the cycle, it will affect your resale value in the future. Early buyers not just get the best price, but also pick the best floors and suite locations. Plus, they can design first.

The low-cost price and the freedom of choice are what attract most to buy condos in the preconstruction phase. And once a building is finished, and the buyers see their investment come to fruition with the finished building, their doubts disappear. Usually, the sales of pre-constructed condos rise during the early construction phase. Once the pre-construction buyers see that the developers secured money to continue building, the buyers experience relief.

Buying a condo unit in the pre-construction phase gives many advantages than the purchase of a resale. Here are the main reasons why pre-construction condos are a great deal.

1. The final say is yours
 Pre-construction condos offer the choice for investors to include their say in the unit’s design plans. You can pick your appliances, cabinets,  finishing, and flooring early, This way, you can be sure that you’re buying a new condo in Montreal that fits your prospective tenant’s needs.

2. Best price per square foot.
 The price of pre-construction units per square foot is way lower than resale condos. No other dwellings can offer the same price of these units.

3. You can get the best price
 New condos in Montreal will eventually appreciate over time. To unlock this appreciation potential, take advantage of the earliest possible launch prices offered by developers. Sometimes, home builders also offer additional incentives in the plan.

4. Gives you more time to save up.
 When buying pre-construction units, the builder often requires payment in small instalments, instead of a huge starting deposit. This flexibility in payments gives investors more time to complete their dues.

5. Brand New Home
 After the condo building is finished, you now own the newest condo in Montreal. Designed in a trendy and modern architecture, the brand new property and its modern amenities and appliances will attract potential tenants to your investment. Because it’s new, you won’t have a problem with issues left by previous tenants like most resold old condos do.

6. Lower maintenance fees
Buying resale units means you’re getting old condos which tend to have depreciated structures and fixtures. The equipment and the appliances are often out of date. And mostly, old condos used old materials and technologies that may be of lesser quality, are energy consuming, and not ergonomic. Whereas new units are fixed with new electrical, latest pipes and paint,  and requires minor maintenance. And because new buildings are more likely to use green technology in their materials and fixtures, you can expect to have lower utility bills in the future.
 Investing in Montreal Pre-construction Condos is a risk worth taking. Now that you know the advantages in investing in one, it is now in your hands to decide if you’re up to the challenge.