Should You Invest in a Condo?
Investing in condos within the Toronto market is a very good move right now. With many of the most desirable properties in Toronto being snapped up very quickly, one of the best ways to get into the condo market throughout the GTA is with the help of early investment.
When Should You Invest in a Condo?
1. During Construction Process:
- In the early stages of condo investment, before the building has been completely built you can often get into a condo for a price that is a fraction of what you might pay when the entire unit has been completed.
- Although you may have to deal with a few minor inconveniences as the building takes shape, this investment will ensure that you can have a beautiful home in a prime location for renting or living in.
2. During Pre-Construction:
- This is one of the best times for investors to get into the earliest available suites.
- This also gives you time to help your deposit really work for you.
- By the time the condo closes in a few years the interest rates remain low but the prices for the same condominium have risen considerably leaving an almost instant profit from the deposit made.
Investing in a condo in the GTA also means targeting demand based off of the neighbourhood.
In Toronto, you can often secure a wonderful investment for the future if your development has the following benefits:
- Close Access to Transit Stops
- A Prime Location
- Building Ameneties
Toronto is following the path of worldwide cities like New York, Paris and London with year-over-year gains for investors.
Investing in a condo is also much more accessible than buying a house in the city or having the inconvenience of an extensively long commute.
If you are considering investing in the Toronto real estate market keep in mind that condos are the best and most accessible investment currently. If you are interested in finding condos that are the most popular in Toronto and getting the inside scoop on the best new pre-construction investments, check out The Condo Link for more information.