The fact that investing in real estate is a huge decision which needs to be made with caution cannot be stressed upon enough. When you buy pre construction condos Vaughan or other parts of Canada, it is important to know what you are getting into. There are many important aspects of accessing if the respective pre-construction property is worth your time, patience and money. And one such important aspect is the future value of the building.
While you cannot be a 100% sure of what the building value will be once the property is constructed. You can definitely try to make estimation. Here’s how:
- The first thing which will help you access the value of the building is comparing the unit you are interested in with similar units in the neighborhood. This will give you an idea about how much such units cost and what will be the possible resale value of your unit should you wish to go down that road.
- Next is other neighborhood trend such as price per square foot of property, rental prices and such. If you are investing to rent the condo out later on then is good that you enquire about the current rentals. The higher the rent the better the value of your own building/ property.
- Now comes the floor plans. Since we are facing a space crunch there is dire need of using space wisely. The better you floor plan utilizes the space at hand the higher the value of the building. So invest in the units which portray optimum use of space.
- Another thing that will help access the future value of the property you are investing in is availability of amenities. Everyone wants to have multiple amenities at their disposal. So look if the plans include amenities like pool, gym, play areas etc. The better the amenities the greater the value of the property.
- Last but not the least, the view from your property can also affect the value of the building to a certain degree. For example many sun facing properties have higher value.
Well, we hope this shed ample light on the aspects/ features which can help you access the future value of the building. New Home Condos has many such amazing pre construction condos Toronto 2019 which are sure to meet all your requirements. So make the smart move and invest in the property you think is of the most value to you.