The Greater Toronto Area is diverse, with people and cultures from many different places. This rich mix of other people makes the GTA an attractive place to call home. It’s also a challenging place to build a new community. So much so that builders have a new way to market their projects and pre-sell condos.
The city has become one of the hottest real estate markets in North America due to its affordability, proximity to employment, and cultural amenities.
The city offers a variety of housing options to choose from, whether you’re looking for an affordable rental, a single-family detached home, the best condo buildings in Toronto, a townhouse in a newer development, or a pre-construction condo in a sought-after neighborhood. As a result, there’s a great demand for the many different types of housing Toronto offers.
To meet the demand and prevent any supply issues, many homebuyers are exploring the option of pre-construction condos in Toronto.
What makes pre-construction condos in Toronto so attractive?
There are many reasons why someone would choose to buy a condo before it has been built rather than buying off-the-plan or after the project is finished.
Here are some of the main perks:
- Ownership discounts
Buyers who purchase pre-construction condos in Toronto may be entitled to 10% off the purchase price compared to purchasing once construction is complete.
- Guaranteed availability
Pre-construction condo buyers have the peace of mind of knowing exactly which floor plan, finishes, and fixtures they will be getting because no changes can be made at that stage in the construction schedule. The only thing that can change is the final price tag.
- Exclusive access to new inventory
Pre-construction condo buyers are one of the first groups permitted to tour the buildings and land used to build their future residence.
- Property Tax Rebates
Homebuyers who purchase pre-construction condos in Toronto may also be eligible for more than a 50% property tax rebate during construction. They also enjoy a 25% tax rebate on transitioning from business property to residential.
- Greater flexibility
Most pre-construction purchases tend to be made through secured financing, allowing buyers to apply for their down payment as they choose rather than all at once. While funding is typically set up before construction, like with many options in life, homebuyers are always welcome to look elsewhere and still benefit from this discount.
Advantages of preconstruction condos
Pre-construction condos in Toronto come with several benefits, touched on in the above section. But perhaps one of their biggest advantages is the immediacy they offer.
If a buyer has already been pre-approved for financing and has chosen the building and floor plan, there’s no need to wait months or years for overwhelming units to become available. They can buy the second that they go on sale.
Most buyers prefer to tour during construction, so that’s a bonus. The price is also advertised during this time; assuming it has not been changed from the pre-construction renderer; buyers know exactly how much their unit will cost. As construction nears completion, they do not have to worry about hidden fees or other pricing changes.
You can find luxurious design and unique finishing suitable for your budget smartly designing homes by talented architects throughout Toronto’s Greater Toronto Area.
Did You Know?
Toronto is home to several different building types and home styles toward how a condo is created. Occasionally referred to as “raw land” condos.
Toronto generally has six different categories of construction methods. That cater for varying pluses and minuses such as affordability and square footage (700 –1000 sqft range) depending on if one prefers a quieter amenities environment or wants an urban residential super equipped modern total building experience.
You should have the ability to contain a third-floor penthouse with that of an entire floor. Units in Toronto also come with extra features not normally seen at lower price points. There are broad choices about pool and gym accessibility, proximity being a close-by transit station, and child’s play playground facilities, among others.
With all these in place, how would one find the best condos in Toronto? It’s not just about style when one wants to buy pre-construction condos in Toronto; buyers may want to watch for additional amenities. These units typically tend to be much more expensive than strata units because they are exclusive. If you’re shopping around and are considering different types of homes, it might be worthwhile to do the same with pre-construction condos versus the others.
Best condos in Toronto
If you’re looking for the best pre-construction condos in Toronto, look no further than the Celeste Condominiums. This is the best place to buy a condo in Toronto. This neighborhood is one of the fastest-growing in Canada and is growing in popularity as a desirable place to live. Just a stone’s throw away from some of Toronto’s most popular attractions, cities, and entertainment areas, the Celeste Condominiums offer many amenities to fit any lifestyle.
If you’re interested in buying pre-construction condos in Toronto, this property is an excellent choice. Providing access to both public and private transportation and proximity to shopping districts and services you’ll need for your day-to-day life, this venue will effortlessly cater to all your needs.
Sophisticated yet cozy, this facility will startle anyone who sees it firsthand. Once inside, you’ll see just how spacious the fitted kitchen is – perfect for those who love their cooked food due to the brand-new appliances and blend designs. There are plenty of windows around the condo, creating a great deal of light, apart from which there are also sun loungers that make resting on these pleasant throughout the year.
Situated towards the middle of the building, utility areas are located after completed floors; yes, building finishes should include condo railings that attach leading every length until they connect at four feet of stairs, which allows plenty of space in condominiums way up. These will give you storage and cut down on your property maintenance, shall there be an issue.
When you think of investing in real estate, you might think of flipping houses for a profit. But investing in a condominium is a completely different ball game. The primary difference is that a condominium is much more expensive than a house. So, is it a good time to buy a condo in Toronto?
It’s also a much more long-term deal. Investing in a condo is about more than just making a quick buck. It’s about making a solid, reliable monthly income for a long time. That’s why you should invest with Celeste Condominiums.
You Can Secure a Mortgage for Your Investment
Many people who decide to invest in real estate do so to generate monthly income. They might have a pension they’re relying on, or they might have a family that depends on their revenue. Whatever the case, they have a ton of bills they have to pay every month.
By investing in a condo, you can secure a mortgage that will give you monthly income. This can be a great option for retirees who don’t have a pension and need regular monthly payments. Condos are a great option if you want to invest in real estate for income. Celeste condominiums offer those who wish to invest in real estate the opportunity.
Plus, you can collect a stable payment that will save you time and costs in the long run. As I’ve already said, condos are a much more long-term deal. You’ll make monthly payments on a condo for years and years. Unless you mess it up or something like that, you must look carefully at your investment before investing so thoroughly in it. By buying a townhome or condo for less than market value, for instance, you could potentially lose money pretty quickly here and there if, hypothetically, everything doesn’t go exactly as planned.
There is no shortage of horror stories where people invested a ton of their down payment early on only to wait months or even years for their return because they financed the deal too close to the real property’s value when the time came for them to sell. Investing (or saving) wisely is all about knowing how much risk you’re taking on when it comes to your investment decisions. Aside from building losses (which do exist), condominiums like Celeste offer a stable monthly income with little risk compared to many other investments because they require so little up-front cost.
And, if upgrading is what you want to do, there’s a transitional option at Celeste Condominiums.
You’re Investing in The Future
The condo market is a very long-term business. Even when the market goes through a bad patch, condos typically hold their value over time. This is because condos are a more stable asset than houses. Condo prices have increased even when the market has taken a dip. The same can’t always be said for homes. As an investor, you’re getting in at a good time.
Conversely, houses often have trouble keeping their value as the market fluctuates and goes through patches of situation. Real property investors need to diversify between different types of investments or risk losing out on huge amounts of money quickly if the wrong assets haven’t fully recovered from bottoming out in a bad market.
In most cases, investing in real property that doesn’t require updating for quite some time is the best option for a long-term investment cycle versus a short one due to how fragile its value can sometimes be. States like Florida always have great opportunities because demand drives properties like condos and lots up the price. However, those who aren’t so lucky will have to run along to other states with more educated buyers who care more than just about at which price they can get their hands on a good deal.
Condominiums generally feature attractive pricing compared to avant-garde houses (houses usually redeveloped), though developers won’t build them unless there’s a demand.
You Get to Live in Beautiful Buildings
The best part about owning a condo at Celeste Condominiums is living in beautiful buildings. This is true no matter which condo you choose. Some of the condos in this project have amazing views of the city. Others have amazing views of mountains and beaches.
Perhaps your building has a swimming pool. At Celeste Condominiums, they have a beautiful one with an eye-catching fountain. You’ll love spending weekends on the large patio, sipping drinks with friends, or gazing out at the landscape and city lights across the bay’s shores.
Celeste Condos Features:
– 100% Lowes Steel Sash Windows and Screens
– Mirrored door system
– Natural gas heat, tankless water heater
– Fusion Electric/Gas hot water heat
– Full height ceiling system
– Rainwater harvesting
– Solar panels on the roof
– 24-hour security patrols
– 24-hour concierge service
– Cable and phone lines in each unit connected to the building’s central office
– Common area pool with a hot tub, deck, and BBQs for your convenience.
As you can see, Celeste Condos has all the features you need and some that you don’t. It’s a great investment for those who want to make their payments without breaking the bank.
You Have Freedom and Control Over Your Investment
One of the advantages of investing in real estate is that you get to control your investment. If the market crashes, you can stay in your condo and not suffer the economic fallout of losing your house. This is possible because condos are normally Type-B or Type-C construction. This means that the building is separate from the land on it sits.
So, if the market crashes, you can stay in your condo and not lose your house.
Unlike a house, you can also sell your condo if you want. This means you can cash out if the market improves.
Celeste Condominiums are an ideal investment for those looking to invest productively without dropping a lot of money. Some units will only take you as deep as seventy thousand dollars, others as far as fifty-five thousand nine hundred dollars.
Despite the range of possible prices, it’s important to remember that Celeste Condominiums is still quite expensive but affordable compared to the average income in its neighborhood. Many consider them an amenity-rich community amongst those who agree that property is based on perception and degree of location.
If you’re new to condos and are unsure if they are the right investment for you, we recommend Celeste Condos as your place to begin your journey into investing in new condos.
Some of the amenities around this neighborhood include:
- Walking distance to two movies theatres, patron businesses, groceries, and delicious restaurants.
- 24-hour security patrols ensure that your home is safe at the guard gates and in its community.
- Detached garage parking space on either side of each unit.
- Cell phone coverage throughout the complex with no need for a landline, but an emergency call can be made through the entrance of your apartment should a problem ever arise that warrants emergency service in your area.
- A guest suite that comfortably fits four persons is available on both sides. The washing machine and dryer make it easy to get ready in the morning or leave your clothes lying if you prefer using clothes baskets (or send others to do your laundry for you). At Night, you can call the super for access to the bathroom and shower facilities.
- Kitchen facilities include microwaves and refrigerator fans, meaning that you’re always ready for a mid-day snack or quick meal.
- Cooking amenities like central air conditioners too.
- Quiet nights with the gates closed, give peace of mind, and helps ease rest physically and mentally.
- Summer hanging gardens to take a walk in during the sunny days to nurse your recovery.
Other useful information for potential condo buyers:
- All units come with a guest suite on one side.
- There’s no need for a landline, but an emergency call can be made through the entrance of your apartment should a problem ever arise that warrants emergency service in your area.
- A garage is available on either side of each unit and detached parking spaces.
- The complex is equipped with laundry machines and dryers making it easy to get ready in the morning or leave your clothes lying if you prefer using clothes baskets (or sending others to do your laundry for you).
Around Celeste Condominiums, there exist:
These schools provide the best education for your children as they will receive the best education during their primary and secondary studies. They are the favorite choice for parents who want their children to prosper and get the best knowledge about everything in life, from science to the crosswalk of social issues. They’ll also graduate with a better understanding of their future through higher education.
Celeste Condominiums will offer the most comfortable care available in its local region. You need to check out the hospitals near Celeste Condominiums, giving enough reasons for them being the most self-sufficient ones in terms of medical support.
This locale would also provide security for your loved ones as it gets attached to both state and national hospitals.
Investing in real estate is a great way to get your feet wet. If you’re looking to get started, condos at Celeste Condominiums are a great option.
In most cases, you can buy a condo at Celeste Condominiums without any money down. This means you don’t have to pay a cent in maintenance fees or property taxes.