Presale property is attracting more attention then before.

The market of presale properties has interest from several types of buyers. From first time home owners, down sizers to investors.

What are a presale properties?

A developer will sell units in a building before it is completed. The buyer will be asked to put down a deposit of 5% to 10%, depending upon the developer. Presale units can take anywhere from 1 year to 5 years or more to complete.

Why presale?

There are multiple reasons presale properties can work for a person wanting to purchase a unit.

Financial Considerations

• Flexibility – For the first time home owner, it gives time to get the down payment together. Down sizers have the opportunity to get their current home ready for sale.
• Investing – buying at todays prices knowing the investment will increase in value.

Easy of Mind

• Less hassle – new buildings have less problems than older buildings. You are less likely to deal with an out of service elevator!
• More protection – presale units in BC come with Home Warranty Insurance.

Circumstances Change

If you have decided not to move into your home you have options. You can sell your home or rent it. New properties are always in demand regardless of whether you are selling or renting.

Contact Geoff when you have any presale questions!