Working With an Agent When Buying a Pre-Construction Condo

Mar 30, 2022 / Agents

Whether you are looking to make an investment or find your next home, the GTA is a great place to buy a pre-construction condo. With a number of exciting developments in construction and many more on the way, there’s never been a better time to consider a pre-construction property. 

One of the most common misconceptions about buying a pre-construction condo is that there’s no reason to work with a real estate agent. In reality, buying a pre-construction condo is a complex process. Having an expert real estate agent at your side will not only allow you to shop with confidence, but it can also mean better prices and access to developments you may not have even known about. 

We’ve outlined a few key ways in which working with an agent on your pre-construction condo can make all the difference below. 

Ready to find your next home? Explore pre-construction developments in Vaughan.

Relationships Matter

When it comes to working with developers, relationships make a big difference. A great local agent will not only have personal relationships with condo developers in their area but also know important knowledge about the developers’ style of business and previous developments. 

These relationships and insights are useful in every stage of the buying process. Depending on their access level, a great real estate agent can offer their clients access to development projects early, before other buyers on the market. This early access to new projects has benefits beyond unit availability. Depending on access level, buyers with agents can get lower prices, less fees, unit upgrades and other perks such as free parking or storage lockers.  

Thanks to our relationships with builders, Lino Arci agents get first access to new projects – right behind the friends and family of the developer. 

If you miss out on early access, a realtor’s relationship with your builder can be particularly helpful during the negotiation stage. If they’ve worked with the builder before, chances are they know which details the developer is willing to be flexible on. This could mean securing a great price, avoiding extra administrative fees or other perks similar to those that come with early access. 

Interested in relocating to the Vaughan area? Check out these articles on our blog. 

They Know the Process Inside and Out

As you may now expect, purchasing a pre-construction condo is a more in-depth process than can appear on the surface. Choosing a great agent to guide you through the process can ensure there are no unpleasant surprises along the way. 

If you plan on living in your pre-construction condo, choosing a floor plan and unit can be really exciting. However, it’s important to remember that it will be years before you’re able to move in. At Lino Arci, we’ve worked with hundreds of buyers and can help ensure you choose a condo that’s right for you now and in the future. 

If you are a first-time investor in real estate, an agent can answer any questions you have about taxation and property management. They can also offer knowledge about factors that could impact your returns, such as hidden fees, expected delays or rental market trends. 

They’re Your Advocate 

Purchasing a pre-construction condo as a home or investment property can be an intimidating process. This can feel especially true when dealing with a developer’s sales team. Working with a real estate agent means having a knowledgeable advocate that has your best interests in mind. 

As experts, they’ll be familiar with sales tactics and can advise you when to be cautious during the buying process. It’s not uncommon for property details to change between your purchase and move-in date. An agent can help protect you from broken promises or disruptions that may occur before you move in.  

Buying your first condo? Explore these helpful articles. 

They’re Local Experts

Real estate agents can also provide critical knowledge about the area you plan on purchasing in. Perhaps you’re banking on a unit with an amazing view. Your agent will be able to warn you about a new development next door that could take that view away. If you’re relocating from out of town, they’ll know all the details to help you find the best neighbourhood for you. 

In a rapidly evolving metropolitan centre like the GTA, they can also help you anticipate changes within your community that could impact your day-to-day life. This could include future public transit projects, new schools, roadways or other developments. They’ll also know details about similar construction projects nearby Whether it’s new buildings or future developments, these insights will be important during the buying phase. 

Interested in buying a pre-construction condo? As GTA experts, we are here to help. Reach out today to begin the exciting journey of condo ownership. Contact us.

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