Buying Pre-Construction Toronto Condos: 14 Must-to-Know Factors

The article discusses the factors that a buyer should consider when investing in pre-construction condos in Toronto. The first factor to consider is deposits, which are typically 20% of the condo's price and staggered over a year. The article also mentions the importance of a cooling-off period of 10 days, during which the buyer can reconsider their decision. Buyers should also look for a cancellation clause and be prepared for changes in the building's appearance. The article suggests checking the developer's track record, examining the interim occupancy period, and being aware that condo fees are set low in new buildings. Furthermore, the article mentions that registration can take anywhere from three months to two years, and delays are common in pre-construction condos. Finally, the article discusses assignments, which are a way to sell pre-construction condos before closing. The article aims to provide useful information to prospective buyers of pre-construction condos in Toronto.