Why would you want to buy a presale?
Well, with buying anything in real estate there are risks and benefits. Here are some of the most common reasons for buying presages:
- It's BRAND NEW! The idea of owning a home that's never lived in can be quite exciting for some people. Hassle free, and move-in ready. Not to mention you get the latest appliances or building technologies and building materials.
- Choices, if a building is already in a desired location, you get to pick and choose from a large selection of; plans, floor levels, directional exposure, and layout. Sometimes you can even make alterations if allowed by the developer.
- Last but not least, if you are in a climbing market, there is a potential increase in value before completion. This means the purchasers only has to put down about 15%~20% deposit and potentially watch the home increase in value before the sale is even complete. In recent years, many people in Vancouver have benefited from buying into presales and selling them after they’re built in markets where home values have been increasing.