Dancing between the resale market and the realm of pre-construction? As a developer who's partnered with hundreds of buyers to deliver their dream homes, in the early stages we're often asked "What are the benefits of buying pre-construction?"

Pre-construction has delivered great innovation to Toronto's rising real estate market over the years. Early home ownership provides buyers the convenience of spacing out their spending and holding an appreciating long-term capital investment. The pre-construction market is an industry key that unlocks financial and lifestyle freedom for homeowners, investors, and brokers.

Don't be fooled by the myths of owning modern luxury—buying a new home may come with fewer financial strings attached than you may think.

But first, let's start from the basics. What's our working definition of a pre-construction home?

Like pre-ordering a highly anticipated unreleased product, or shiny new vehicle concept, it's purchasing a home before it's been constructed. For condo developments, you have the chance to browse a variety of floor plans, blueprints, and digital renderings to conceptualize your finished unit. In addition, you'll be offered an immersive showroom experience—a hands-on walkthrough to explore finishes, floor plans, a 3D model of the development, and a chance to get a more realistic look at what you'll be buying.

6 Reasons Why Pre-Construction May Be Right for You

Extended Deposit Structure

Ready to say goodbye to hefty up-front payments? Extended deposit structures are designed with your flexibility in mind. A major financial incentive for purchasing pre-construction is the flexibility of a 2-year extended deposit structure. Invest on your own terms and allow yourself the ease of a gradual financial transition without a daunting 20% down all at once. Here's to making sure your financial journey aligns seamlessly with your buying plans! Ready to say goodbye to hefty up-front payments? A significant financial incentive for purchasing pre-construction is the flexibility of an extended deposit structure. Eringate Homes offers the ease of a gradual economic transition. The46 on Main project is here to align your financial journey with your buying plans seamlessly - take advantage of 2.5% instalments over two years or connectwith us to discuss your unique deposit structure! 

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Avoid the Burden of Hefty Repair Costs

Despite the charm of a pre-loved home, the hidden costs can cast a dark shadow on the dream of home ownership. Consider this: a quaint fireplace and cozy basement that charmed you during your viewings that now demand extensive repairs, slowly eroding the foundation of your investment. You actively eliminate these hurdles when buying pre-construction. New homes offer modern planning and assurance and eliminate the burden of unforeseen repairs. 

The Tarion Warranty. Your Guardian Angel

In pre-construction, the Tarion Warranty provides new homeowners comprehensive coverage on new builds for up to 7 years. This unique home warranty covers water leaks, heating and electrical complications, and structural defects. 

The Tarion Warranty offers unmatched assurance with no-hassle coverage so you can confidently purchase your pre-construction.

View more detailed information at tarion.com/homeowners/the-new-home-warranty. 

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Buy at Today's Price for Tomorrow's Investment

Why play the market guessing game when you can invest with certainty? Your home will continue to appreciate over time, and by investing in pre-construction, you’re buying tomorrow’s investment at today’s price. 

According to a 2024 Market Outlook published by RE/MAX, Markham is one of the most promising neighbourhoods in the GTA for purchasing real estate. 

Viewmore on RE/MAX’s GTA Housing Marketing Outlook for 2024 here:https://blog.remax.ca/toronto-housing-market-outlook/

In an adjacent report by RE/MAX, between 2019 and 2021, the GTA observed a 14% increase in the average selling price of pre-construction condos - a powerful insight for first-time homebuyers and investors with a guaranteed high return on investment. 

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Goodbye Bidding Wars, Hello Exclusive Pre-Launch Pricing

Bidding wars can quickly reverse the excitement and optimism of home ownership. Early ownership allows you to secure your dream home, be the first to move in, and design your own space without the personal touches of previous homeowners. Anadded perk of considering early ownership is exclusive pre-launch incentives and pricing that make pre-construction condo ownership more attainable.

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Lower Condo Fees with Greater Passive-Income Potential

A brand-new condo means little to no unexpected maintenance and repairs. Think beyond the conventional—with lower condo fees, you're not only making a wise long-term financial decision, but paving the way for greater passive-income potential, and comfortable home living. Enjoy the added luxuries of being the first to move-in.

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With the Right Developer, You're in Good Hands

Most homeowners invest in good property, but through us you're also investing in a promise. With a strong emphasis on tradition, Eringate Homes is paving a modernist vision that intersects with timeless living just for you. Eringate Homes puts your needs first—not only is every design element crafted, but competitive pricing and payment flexibility are on the table to ensure financial freedom and comfort during your ownership process.

Take pride in impeccable workmanship and designer layouts curated just for you—a truly strategic move towards a future towards a steadily appreciating investment.

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Conclusion

As we explore the nuances of pre-loved homes and the poised advantages of pre-construction, your path to smart home ownership and financial investment becomes more apparent. 

Pre-construction homes have many financial advantages to suit your timeline and ownership milestones. Modern solutions alongside expert planning allow you to invest in confidence and avoid the potential pitfalls of unforeseen repairs in pre-loved homes. 

46 on Main unveils an ideal canvas designed for timeless, modern living in the heart of one of the GTA’s most sought-after Markham communities. Ready to take the next step in exploring early ownership with Eringate Homes? Transcend home-buying uncertainties and step into a future of security, confidence, andsteady investment.

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