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Pre-Construction Condos


Blog by Matthew & Robert Johnston | September 1st, 2020


Pre-Construction Condos In Barrie 

Barrie is growing at an extremely rapid rate and the real estate market is reflecting this steady incline. Condos are selling for 98% of their asking price in just 24 days! Condos offer a maintenance free lifestyle that attracts all sorts of individuals with different lifestyles including professionals and elderly individuals. 

Pre-construction condos offer first time home buyers the opportunity to get themselves into the market. With much less of competition in the purchase of a pre-construction it allows first time home buyers to avoid the famous “bidding wars” that Barrie is known to have on it’s resale properties. 

Pre-Construction Condo: How it Works

1. You commit to buying a condo from the builder before ground is broken for the future building & given an estimated closing date.

2. Barrie builders typically have a deposit plan that must be paid in instalments (this will go towards your down payment, BONUS!) 

3. The common turnover time is 1-2 years from purchase. 


Perks of Pre-Construction 

1. You do not need your down payment all at once! You pay the builder in instalments, therefore you have a monthly plan for your down         payment.
2. There are no expenses during the building period: no condo fees, property taxes, utilities, etc.
3. When it is complete it is brand new which is significantly less of a risk compared to buying an older home.
4. The finishes! You get to design it exactly how you would like, not having to fit your aesthetic into another individuals design.
5. A great investment! You are gaining capital appreciation before you even take possession of the unit.

 

Interested in a pre-construction condo? Visit our “Presale Condo” tab our contact us today for more information!