In a recent article, Michelle Kam shared a guide to navigate the pre-construction condo market
TORONTO, ON / ACCESSWIRE / November 9, 2020 / Michelle Kam shared a guide for purchasing a pre-construction condominium in Toronto in a recent article for Your Amazing Places. She shared the many different aspects that buyers should consider before finalizing a sale.
Michelle Kam has more than 15 years of experience in the real estate industry and specializes in selling pre-construction condos and houses in Toronto.
In the article, Ms. Kam broke down how down payments on pre-construction condos differ from those of an existing condo. She explained that for condos that are already built, homebuyers may be able to put down as little as 5% as a down payment, but with pre-construction condos, that amount jumps to anywhere between 15% to 20%.
An experienced mortgage provider who was worked with various condo developers in the past may also be able to lock you into a special interest rate for your mortgage, she noted.
Ms. Kam also noted that buyers should be prepared for any additional costs like development fees, lawyers' fees, and taxes that do not apply to already existing homes or condos and that they should look into different condo amenities offered by developers when making a final decision.
One of the biggest advantages of purchasing a pre-construction condo is the ability to customize your new home, shared Michelle Kam.
Michelle Kam concluded by stating that while there are many considerations that go into purchasing a pre-construction condo, the benefits are impossible to ignore and that it is essential to work with an experienced real estate agent and mortgage broker who will be able to help you navigate the buying process and point you in the right direction when it comes to location, reliable developers, and which customizations will most benefit your pre-construction condo.
For more information, visit http://www.michelle-kam.com/.
About Michelle Kam
Michelle Kam is a Toronto real estate broker with more than 15 years of experience. She is an honours graduate of York University. She began her career with Re/Max and specialized in high-end, million-dollar properties in the resale market. Eventually, she carved a niche for herself in high-volume sales and learned to navigate the pre-sale market. She founded her own brokerage, City Accord Realty Inc., which she ran for more than 10 years. In 2016, she joined formed Re/Max City Accord Realty Inc., Brokerage. Michelle Kam continues to specialize in selling pre-construction homes and condos across Toronto.
Broker of Record
Re/Max City Accord Realty Inc., Brokerage
17 Capreol Crt
Toronto, ON M5V 3Z6
SOURCE: Michelle Kam
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