Real Estate

Pre-construction in Whitby

  • Last Updated:
  • Mar 30th, 2018 11:29 am
[OP]
Newbie
Mar 27, 2018
13 posts

Pre-construction in Whitby

Hi, I noticed many pre-construction townhomes and singles in Whitby and surrounding areas. What does everyone think about purchasing a pre-construction in Whitby? Do you think the value will increase by the time it's built in about 2yrs?
9 replies
Jr. Member
Feb 11, 2016
144 posts
165 upvotes
Prices are flat or falling.

Do not buy and speculate that prices will be up enough for you to make money in only 2 year. Seems highly unlikely
Deal Fanatic
Feb 22, 2011
6088 posts
5915 upvotes
Toronto
Precon prices in Whitby are outrageous. The ones by my house are like 30% more than the built ones across the street. You are basically paying a massive premium and taking all the risk.
Deal Fanatic
User avatar
Sep 8, 2007
7426 posts
7014 upvotes
Way Out of GTA
Can’t lose opportunity, go for it! Everyone wants to be in that area.

I’m guessing you will make minimum 40%.
Deal Addict
User avatar
Dec 13, 2016
3116 posts
2501 upvotes
rjg4235 wrote: Precon prices in Whitby are outrageous. The ones by my house are like 30% more than the built ones across the street. You are basically paying a massive premium and taking all the risk.
So, why not buy across the street?
Deal Fanatic
User avatar
Jul 19, 2003
7611 posts
456 upvotes
rjg4235 wrote: Precon prices in Whitby are outrageous. The ones by my house are like 30% more than the built ones across the street. You are basically paying a massive premium and taking all the risk.
what intersection is this? would be great to make a post and/or news story about how ridiculous
hi!
Member
Jan 15, 2010
372 posts
271 upvotes
Toronto
Buy to live in, but do not speculate right now if inventory is already high and rates are going up.
Deal Fanatic
Feb 22, 2011
6088 posts
5915 upvotes
Toronto
BiegeToyota wrote: So, why not buy across the street?
I did buy a built one rather than precon, I was saying others should do the same.
Deal Addict
User avatar
Dec 13, 2016
3116 posts
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rjg4235 wrote: I did buy a built one rather than precon, I was saying others should do the same.
Yep. Seems like a logical thing to do.
Deal Fanatic
User avatar
Feb 2, 2014
7352 posts
1857 upvotes
Toronto
marland wrote: Hi, I noticed many pre-construction townhomes and singles in Whitby and surrounding areas. What does everyone think about purchasing a pre-construction in Whitby? Do you think the value will increase by the time it's built in about 2yrs?
The new builds in Whitby have been tanking. I've financed a few lately where the appraisal came well below the purchase price.

I haven't see the price lists lately, but unless they have dropped them significantly, go resale.
Kevin Somnauth, CFA
Principal Broker - First Toronto Mortgage - MA (Ontario #13176, BC #X301007)
Real Estate Salesperson - Century 21 Innovative
President's Club Award Winner At The Mortgage Architects
PLATINUM CLUB Award Winner At Century 21 Innovative

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