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Toronto’s Latest New Construction Projects

Toronto’s Latest New Construction Projects

Published by Programme B

The Toronto real estate market is set to advance to unimaginable heights given new and modern construction projects set to be developed.

The heightened construction process is particularly so especially after the Covid-19 pandemic, which has brought into perspective new trends in modern housing. The development of condos and houses is significantly on the rise in Toronto, and developers are focusing on modern and functional designs that stray away from traditional designs.

Why invest in Toronto’s latest construction projects

Toronto is one of the best places for investment in 2021, given the high equity gains made in a year, making returns faster to the investor.

Toronto’s latest construction projects are hot investment opportunities, given the rising demand for rental units in the area. Toronto is set to grow exponentially with an influx of immigrants and international students set to arrive. This has enabled contractors to develop groundbreaking rental homes as the anticipation for this inventory continues.

Various technological hubs are also set to develop in Toronto, with more companies aiming to incorporate companies in the area. Big industry players such as Microsoft seeking to expand in Toronto will require rental units, thus making this a worthy investment.

The lease of pre-construction condos is being made available for rental purposes. This is as a result of new units being allowed to enter the market as rental properties. These condos are set to fetch higher rental rates thereby being beneficial to the investor.

Property buyers in Toronto are also well funded with low cases of defaulting from mortgage payments. This has enabled investors to get returns n their investment promptly and timely. The availability of a backup plan also makes buyers able to retain the property for a long time.

The growing Toronto transit plan will set precedence for the ever-growing developing real estate market. Most high-end developments are likely to come up along transit lines, thus bumping up the growth higher.

Hot investment opportunities in Toronto

Several investment areas in Toronto make for budding real estate business. Outlier communities which are mostly on the outskirts of the city are becoming increasingly popular, due to less congestion and spacious homes thus making the inclusion of various amenities possible.

Areas within the city are also costly and populous due to employment. However, more people working from home have made this populous with various considerations into the outlier communities. These communities offer more to the buyer with bigger and wider space, more convenience, and a whole lot of convenience.

Various considerations offer more to the investor in terms of real estate investments:

  • Condos

The popularity of condos over the years has made their market share skyrocket to unimaginable heights. With today’s interest rates, condos can garner significant amounts with growth rates of up to 10% to 15% per year. This has enabled the money garnered to be able to work for the investor regardless of the situation, and being able to pay back the required amount regardless of the procured mortgage.

  • Location

The location of the real estate property is fundamental in the success of the real estate investment. With investment sprawling up in major and minor cities in Canada, this is no hard task to employ. The right location attracts the growing population, with amenities and proximity to major transit lines. This offers convenience and comfort to the end-users, prompting them to consider the area. Therefore, researching some of the best places to invest in depending on location will assist in discovering hidden gems in the city.

What to look for when venturing into Toronto’s real estate

  • Find the best deals

Finding the best deals will help the investor to procure the best possible deals in the market, and prevent being misguided by options that seem too good to be true. The best margins can be found in both the pre-constructed market as well as the resale options.

  • Find the best option

This can be done by ensuring that the properties are placed and positioned for what is being offered in the market or slightly lower. Extremely low properties often have complications that are not entirely visible. When choosing to invest, the investor should identify neighborhoods that are inexpensive but on the rise depending on the population. Such neighborhoods are in high demand and do not attract uninterested parties. Potential investors should also look at the rate of resale and developments in the future, which greatly aids the purchase process. For instance, properties located in the suburbs and outliers, are some of the best options available in the market.

  • Find the right developer

The right developer will actualize the perceived plan into an actual plan, and help guide the investor on the right course of action. This is done by setting the projected goals for the end-user that will make them attracted to the property. For instance, investors will aim to invest in investments that add to their portfolio and are within proximity to the majority of the population.

The right developer will also be conversant with marquee designs and structures that will offer a cutting edge and attract end-users towards the property. For instance, having underground parking levels, dedicated corners that host different amenities, and plenty of retail space will go a long way toward attracting possible customers. State-of-the-art designs with different patterns which boast glass, steel, or stone enhance the aesthetic and give a competitive edge.

With all this information and insider knowledge, the developer can advise on possible investor potential opportunities and offer builder credibility, which will go a long way.

  • Investor Awareness

There are several overheads and hidden costs in real estate which a potential investor might be unaware of. Having the right team will advise the investor on possible pitfalls and offer resources that will assist them on the right pre-construction decision. This is important when speculating on budget and development costs.

  • Resale value

Properties that offer higher resale value perform well in the real estate market. The resale value is added by the proximity of the property to transit lines or major hubs. Neighborhoods that are gentrified are also growing at a slow but steady pace. These will offer exceptional resale value after some years.

Photo by Maarten van den Heuvel from Pexels

 

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