New Condos GTA

Thomas Beyer

Senior Forum Member
REIN Member
They can be if you buy at values that are at least 15-20% below future anticipated values.

They may not as it is unknown what you pay today and what the likely value is in 2-4 years.

It’s also unknown if the bank will lend on future value ie if you can close with perhaps only 60-65% of the price borrowed taking into account 5% GST and land transfer taxes on closing, plus realtor and 2x legal fees if you plan to sell them immediately.

Assignments are not allowed usually unless approved by developer and often come with a 1-2% fee plus a realtor fee even.

Where’s this? What are you paying? Can you assign? Could you buy with 35-40% down if you had to?

Your question is a bit broad. It’s like asking: What’s a better investment? Stocks or real estate?

Thomas Beyer, Asset Manager & Improver, Hard Asset Investor & DeFi Asset Hodler, Author, Father, Mentor, Hiker, Kayaker www.prestprop.com
 
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benmacky92

New Forum Member
Registered
Also curious to follow this topic..

If construction costs are up & labour fees up, and less units released over the next two years, is it OK time to buy with current interest rates? Will rates come down again by the time completion comes.. is the big quesiton? If irates come down again could be a good lift?
 
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