Pre-construction condominiums can represent excellent investment opportunities — but they come with a unique set of risks and considerations that differ significantly from resale purchases.
1. Who is the developer?
Research the developer’s history of completed projects. Have they delivered on time? Were there significant construction deficiencies?
2. What is included in the price?
Parking and lockers are often sold separately, and development charges (levies) can add tens of thousands to your final cost.
3. What is the occupancy date?
Pre-construction projects frequently run late. Understand when you’re expected to take occupancy and how delays are handled.
