Pre-Construction vs. Resale: Which is a Better Investment?

In a thriving real estate market like Toronto, the average price for a stand-alone family home was just under $930,000 whereas the average price for a condo in Toronto was just over $660,000. For a first-time buyer, investing in a condo means a massive saving of almost $300,000. When purchasing a condo in Toronto, you get two different options: pre-construction and resale. A resale condo is one that is already built and is move in ready. On the other hand, pre-construction condo is one that you are purchasing before it has finished building. Both options have their own merits and demerits, depending on your financial state and/or situational needs. In the Infographic below, we aim to make a detailed comparison between the two to help buyers make an informed decision.