Are You Planning to Buy a New Condo or Loft?

If you are planning to buy a new condo or loft here's what you need to know.

As Realtors 95% of all downtown builders contact us with previews for their condo and loft units well before releasing them to the public.

We are invited to an Agents Early Bird Preview and to bring our clients with a view to picking off the best units in the best locations and sizes in the building.

The cost to you the buyer is the same. You do not pay us the builder does.

There is no discount for going direct to the builder the price of the unit remains the same.

Why is this? Because in order for the builder to get financing to build his building he must sell 2/3'rds of the units before the Bank will give him the money to break ground and lay his foundation.

The fastest source of sales for a builder is to work with a realtor not with the public. Realtors often sell several units for them in one afternoon when they bring clients with them.

In fact you may find yourself at an extreme disadvantage in the heat of the moment going direct to the builder,

Since you don't have anyone to point out flaws in a unit such as location of garbage disposals, elevators, obstructed views or hall doors and walkways that may be loud and disrupt your privacy and enjoyment of the unit.

Buyer openings attended on your own can be a bit frustrating and sometimes a bit intimidating causing you to forget things.

These items can also affect your resale value on your unit.

You must always remember that when you go direct to a builder or his representative they represent the builders best interests only. They are under no obligation legally to look out for your interest. They must simply not deceive you intentionally.

When we accompany you to the Agents Early Bird Preview we are acting as a Buyer representative meaning that we are there to represent only your interests and to negotiate the best price, terms and extras for you. We have a legal obligation to you.

We are also there to act as your advisors to insure that you are getting excellent value in your purchase and not overpaying in the market place.

There is a notion that if you simply buy a condo or loft with a 2 to 3 year closing that automatically you will have made a substantial profit at the time of the closing.

This is not true. Markets fluctuate. Right now we are entering into a time where there will be a huge volume of condos coming onto the market in the next few years.

City of Toronto Building Dep't issue over 30,000 permits for new units in the downtown core alone last year.

We have seen condo gluts before and we have watched condo values divebomb.

Will this happen in the next few years? We don't have a crystal ball, but we can tell you that the market is slowing and not every building is a winner.

If you would like information on New Buildings or Opening Previews please let us know. Call us with the location, address or Builder's name. We will contact the builder for you. Obtain dates, times and floor plans in advance if they are available.

This will give you time to think about your purchase and mull over which floors and units you are interested in. Plus you can assess if the ammenities and price make it a worth while proposition

This way you can walk into the builders opening with a list in hand greater sense of confidence and your own representation as you will now have a confidant working for you,.

We can assure you that even if the builder by some rare chance is not co-operating with realtors we will attempt to get this information for you as a customer service effort on our part.

If you would like to contact us with regards to units or new projects please e-mail us your info and the property that you are interested in through the form below.

Best Wishes for your home search

Aeriol