01 Aug What is the best condo project for investment

There is no straight answer for everyone and the “best” projects will all depend on the individual investment goals and budgets. When selecting a project for our clients, we analyse the projects from the following phases.

Location: When buying a condo it’s still location, location, location – and there are even more location implications when buying this type of property for investment. Few important factors play vital role like City, Neighbourhood, transit score, walkscore,demographics of Buyers/Renters for location. Within the building we need to other location like Exposure location, level location, floor location, parking spot location.
Developer experience and reputation: The problem with heated markets is that it attracts amateurs that want to get in on the action. But, more often than not, these products lack quality and design. They may look good on paper, but the underlying issues will make you want out faster than the ink can dry. Look for developer that has a portfolio of successful products in the neighbourhood.
Project: We also need to profile the project, what is the USP of the project. Is this near university or on subway line or high end mall? what is unique about this project? what is special about the features, finishes, balcony or amenities of the building or unit.

Phase of launch: Prices of the projects increase with each phase on the project. Prices in the platinum/vip phase are the best, so is the choice from unit availablity because of the first phase of the project.

Floor Plans and view: Floor plan and view are hugely important when selecting a project. Protective view with nice floor plan can give a good bump to your investment and opposite is also true.
Price: Is it reasonable when stacked up against Comparable Resale? How does it stack up against other pre-developments? How is Rental Demand, ROI and Cash Flow? What is the Deposit Structure? Smaller the deposit structure, Less initial investment means a better return on investment. How are the additional perks like free assignment clause, locker, cap levies, parking price stack up against price?
Occupancy Time: Best thing about condo investment is that condo investment is highly leveraged. The longer the closing the better as your deposit will be working for you that much harder. Most of my investor clients will only look developments that close at LEAST 3 years away, 4 years is a bonus and If time period is less than 3 years, is there any rental garantee by builder?

I carefully analyze condominium projects under the above points to determine which condominiums stand out from the crowd. Be sure to join my list for real estate updates, top condo projects and valued tips for real estate investment.