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Investing In Pre-Construction Condos – Insider VIP Sales Events
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A Condo As An Investment
Condominiums can be an attractive real estate investment. Serious buyers and investors need to do their homework and must consider many aspects to make an educated investment decision. Such factors as financial goals, investment time frames, development in the area, market levels and conditions must be carefully evaluated before purchasing a property.
Outside of price and square footage, consideration must be given to neighbourhood, area influences, location of the building, age of building, suite exposure and floor level, parking spaces, upgrades and many other specific criteria which make a difference in the investment’s performance.
Many consider condos a rental investment, while others are thinking of their condo investment as the gain in future value when selling. The truth is most likely somewhere in between and the best investment will maximize both. When making a purchase decision it is important to consider size in direct correlation to number of competing units in the building and the neighbourhood for reason of maximizing return when renting as well as reselling.
Outfitting your condominium as a Furnished rental or short-term accommodation can greatly appreciate your return on investment as well. Mortgage rates and penalties are also an integral part of any purchase decision. Many options and considerations need to be discussed in detail when purchasing to make the best possible decision with maximum return at minimal risk.