I’m following your channels since almost 2 years. I came to Canada just few months before you and I always learned so much from your videos. I’m also planning to buy a home in 2023 and all your tips keep me informed. Keep up the good work Nav and Simran👍
Thanks Navjot , I appreciate your help . I really like the detailed analysis you do every time. I took your advice and invested in a precon with a builder who has 30 years of experience instead of a builder who has 2 years experience
Great video. Your videos have great content and education . I love it. I think good time for pre construction was 2020 or before. I have seen most appreciation on low rise example detached , semis and towns. Condos I do not see much appreciation and that is the reason builders co operate with realtors to sell condos . Condo need lots marketing to sell. For low rise builders did not much co operated with realtors in the past as there was so much demand or they would do it for phase 1 release 20 homes realtors are advertising and then builders do not cooperate once demand is attracted. The situation now is very different almost all kind of homes low rise or high rise builders are co operating and offering good incentives but not much demand. I wonder builders who sold pre con in gta in 2020 even 2019 the people may not see much appreciation in condos . In Low rise people made good money. In klienburg builders sold detached for 1 million in 2020 by the time closing came in 2022 the prices appreciated to 2 million with only 100 k deposit. Think about it. That time is almost gone. I learnt good location, good builder, good price are features for right pre construction. Builder is very important. Good thing is in condos the deposits are held in trust and if no condo fees( low rise ) it's held with the builder account but has some insurance upto a limit if builder defaults. Always good to get purchas agreement read by a lawyer before signing the purchase agreement. BTW RBC offer FIRM approval when purchasing a pre construction. Everything is done upfront appraisal( even though there is empty land) income verification etc. Thanks and great content
Hi Nav, Great content, please make something on investing in (condo Vs Townhouse Vs detached) return on investment over a period of time say 5 to 10 years. Which is best for GTA/Southern Ontario market.
You forgot to say that the trend on condo prices is going down and who knows what will happen in 2026 ? Mortgage rates will most likely stay high and buyers wont be able to afford those new mortgage payments plus condo fees plus taxes and so on..... so most likely, those condos won't sell for that much and those pre-construction buyers will be belly up !!!
I agree with your points on Ontario and BC, but do you think it’s a bad idea in Calgary for a less price duplex with fixed price promise and less than year term possessions from the renown builder who is in market for more than 60 yrs?( I know you got yours from Brookfield, but I am talking about Morrission and Jayman) Because I see Calgary is still affordable and might become unaffordable post 2025/26 because of the development plan which Alberta has Also I don’t see much reasonable price difference with resale and new construction property in Calgary right now
@@growwithnav I see the resale property cost is higher than the pre-construction property here. That’s the main reason., if there is a reasonable less cost in resale, yes, we would consider resale
In India we have government websites where property is being auctioned at fixed prices, do we have any such federal or provincial websites in Canada or do we only have private players in Canada? It looks like real estate builders are fraud everywhere irrespective of country... i expected Canada to be more regularized and sorted but real estate seems to be same story everywhere....
No auction in canada that I am aware of. So mostly private. It’s a lot better actually in canada. It’s not fraud - and there are processes in place to get your money back from the builder. It’s the loss of time that’s the issue
Hello navjot thank you for all the advice. Being from finance sector working in UK I am fully sold on your financial projections.. we will be moving soon to Toronto and you will be the one I would like to work with for my property needs. Thanks a lot and please continue with this great work!!! Cheers Ankush Bhardwaj
I bought them really cheap in 2020 and mid 2021 before the market became unstable + with really good builders in good location. They are both closing on time - will share details soon
