Down Payment & Leverage
Most pre-sales (pre-purchase) projects allow for a down payment of 5-25% over a period of about two years before completion, and there is no need to take out a mortgage loan until completion. Therefore, for those who have the funds for a down payment but fall short of qualifying for a mortgage loan currently, it provides a favourable condition for those planning to downsize in a few years or investors looking to leverage with minimal investment.
Avoiding Multiple Offers
In the current market, where most houses/condos are sold through multiple offers, there is a high possibility of finding your dream home by avoiding situations with multiple competing offers.
The Best Product
Most pre-sale condos are designed and built with the latest materials, finishes, and amenities preferred by buyers. In the event of any issues after completion, they are covered by New Home Warranty, making them more desirable compared to condos built in the past.