Buying a condo pre-construction comes with a great set of benefits, such as little money upfront, and looking forward to a brand new home with warranties. But purchasing a condo before you can even step inside it can be a little risky, by doing your due diligence, you can protect your investment.
Get some guidance: speak to experienced buyers or a professional who specializes in purchasing new builds. Word-of-mouth advice will go a long way in getting you prepared.
Do your research: this is the most important piece of advice we can give you. Research the builders, see what other developments they’ve had in the past, and what the reception was to those builds. Also do your research on the location of the condo building as well.
Know your unit: inspect the floor plans thoroughly, and ask any and all questions about construction and materials, etc.
Know your fees: understand what condo fees will be involved and look into the property management company.
Most importantly, just do your research and be aware of the risks. You can never ask too many questions in these situations. Having said that, Calgary has a lot of new condo developments going up (or in the construction phase), so there’s lots of opportunity in this arena.
The website, BuzzBuzzHome, has a full list of new construction homes in Calgary. If you’re interested in something specific or have questions, please feel free to contact us.
