When it comes down to commercial condos especially in Canada, people will think of buildings such as Condos Toronto, Condos Bay Street, Condos North York and so forth. Many buyers will have the same question asking whether they should purchase a pre-construction or resale unit. In their eyes, they may only see that the difference between both the choices is one which is physically existed while the other does not.
In fact, you should make consideration based on a few important factors including the timeline, capital and motive. Let us start by discussing the purchase of a resale unit. These condos are actually bought by someone else and then being resell back to a new buyer. Hence, you are allowed to pay a visit into the entire building along with the particular condos that you are interested in.
Everything from the building management to the security as well as all the “bonus features” that left behind by the previous owner is exactly visible to you. Although you are not the first to own, but it is possible for you to view all the available units and then choose a nice and suitable one. In addition, this type of unit is often best for people who are looking for an urgent move. Simply said, getting a resale unit is like “what you see is what you get”.
On the other hand, purchasing pre-construction condos may be a little more complicated. You may probably need to visualize and imagine everything that is about the unit and the building because they are literally not constructed yet. The only idea for you to get a clearer picture and description about the unit is the floor plan. Besides that, you have to wait for years until the construction is complete and only then you will be able to move in. While the good thing about pre-construction unit is that you get to be the very first owner and everything around is brand-new.
Finally, for business or investment purpose condo is truly a great choice and for homeowners, it will be a satisfying place to live. Which type of unit to choose mostly depends on your reasons for buying it and of course, taking your financial factors into account. No matter what, take a little more time to make a proper determination.