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The Pre-Construction Brand You Can Trust
whether you are new to pre-construction or not, we got you covered
PreconBuzz
PreconBuzz is a full-service real estate brand offering our clients the best-in-class service & expertise in pre-construction investments.
Whether you are new to the pre-construction world or not, we guide our clients thoroughly to make the process easier. We receive Platinum VIP Pricing and Incentives exclusively for our clients to appreciate in projects we work with.
Our extensive backgrounds in investments and finance allow us to take further steps into consolidating our clients and ensuring their pre-construction investment is the right one for them.
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FAQ
What is pre-construction?
Pre-construction is a phase where a developer starts selling a project before it has begun construction. During this time, we are able to give our clients exclusive incentives and better pricing before the general public and other realtors.
Do I need to commit to a mortgage to buy pre-construction?
No! This is the beauty of investing in pre-construction. Typically the developer needs a pre-approval letter within a short time after you sign your agreement of purchase and sale, however, you do not need to arrange mortgage funds until the closing of your unit is much closer. This is typically years down the line since construction has not begun yet. This is also only if you even choose to close your unit! (See exit options below)
What are my exit options to making money?
Keep in mind, buying a pre-construction unit and waiting a few years before it is done, already gives you an opportunity to watch the appreciation in equity depending on market conditions. You are buying the unit at today's price and locking it in. Therefore, the price in a few years would be different than it was today already!
Typically, depending on market conditions buyers like to either assign or rent out their investments.
An assignment is a sales transaction where the original buyer of a property (the “assignor”) allows another buyer (the “assignee”) to take over the buyer’s rights and obligations of the Agreement of Purchase and Sale for a proft, before the original buyer closes on the property (that is, where they take possession of the property). The assignee is the one who ultimately completes the deal with the builder.
In other words, an assignment clause allows the buyer of a home to sell the place before they take possession of it.
In Ontario, assignments are more common in pre-built homes and condos than on re-sale properties, but they are possible on any type of trade.
Another option is to simply rent out your unit and build more equity over time depending on market conditions. The equity you build after can be used to refinance and use that money for re-investments or whatsoever.Do I have to be an investor to just buy pre-construction for my own living?
Absolutely not! Pre-construction provides a great investment opportunity for both investors and end users alike! End users can also take advantage of the incremental payment structures for deposits in pre-construction. These provide a more financially feasible way of paying deposits unlike the traditional resale where you pay it all at once. Also, end users wait a bit, but get a brand new piece of real estate to live in at the end of the day. You're making money on your purchase before it is done and living in it!
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Phone
(289) 231-3459
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Office
152 Holland St E #203, Bradford, ON L3Z 2A8