Agreed, but what I am trying to point out is an Apple to Apple comparison. Also, in the example you provided, it is not a free hold town home, some buyers will screen out condo towns when they are looking. Also, once a buyer factor in the condo fees as part of their monthly payment, the decision get more difficult as the monthly carrying cost is comparable between the two.skeet50 wrote: ↑ I also don't think that they'll get what they are asking. Especially when you consider this listing in the same neighbourhood (https://www.realtor.ca/Residential/Sing ... ld-Meadows). I think for that price buyers are looking for hardwood floors, 9' ceilings on the main and fenced rear yards. As the ad states for rent or sale, I am guessing that this is a rental that the landlord would rather unload than rent.
Why do people buy new unbuilt homes?
- Last Updated:
- Apr 2nd, 2017 5:41 pm
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- SCORE
- William W
- Deal Addict
- Nov 26, 2004
- 4462 posts
- 4127 upvotes
- FirstGear
- Deal Fanatic
- Nov 2, 2013
- 5697 posts
- 1522 upvotes
- Edmonton, AB
I'm in Alberta so the market is very different VS. GTA, GVA, as we are in a recession. But builders here are greedy too. They don't overprice by forcing appreciation, but while you can often bargain <=3% in one area for a very similar resale property, you're lucky to get <=1% off.
Going through that right now, as I've been writing offers on an university condo here. We are currently fighting over $3000.
Accountant (Public Practice)
- Chickinvic
- Deal Fanatic
- Dec 27, 2009
- 7941 posts
- 5483 upvotes
- Victoria, BC
I hate the fact that these new places have zero yards. What a shame. 21 x 44 foot lot? Terrible.William W wrote: ↑ This is another case where pre construction is cheaper than existing home of the same model, this time out in Barrhaven.
Resale listed for $259k
https://www.realtor.ca/Residential/Sing ... f-Moon-Bay
Pre construction selling for $239k + $8k discount or $13k at decor + stainless steel appliances.
https://mattamyhomes.com/ottawa/communi ... pleby.aspx
And this is not cherry picking listings either, as the next cheapest resale Appleby model beside the first example is listed for $265k.
https://www.realtor.ca/Residential/Sing ... f-Moon-Bay
- Chickinvic
- Deal Fanatic
- Dec 27, 2009
- 7941 posts
- 5483 upvotes
- Victoria, BC
I agree about avoiding condo towns (especially since most townhouses around here are freehold). There are loads of freehold towns though that are in the same area for around $300K - $320K (this can often be for an end unit).William W wrote: ↑ Agreed, but what I am trying to point out is an Apple to Apple comparison. Also, in the example you provided, it is not a free hold town home, some buyers will screen out condo towns when they are looking. Also, once a buyer factor in the condo fees as part of their monthly payment, the decision get more difficult as the monthly carrying cost is comparable between the two.
- dealseaker101
- Deal Fanatic
- Dec 1, 2013
- 6493 posts
- 3282 upvotes
- redflagdeals.com
I guess you could save yourself from endless bidding wars by purchasing a pre-sale home/condo.
¯\_(-.-)_/¯ A wise RFD'er once said, "Buy now, think later."
༼ つ ◕_◕ ༽つ Behold!
༼ つ ◕_◕ ༽つ Behold!
- JayLove06
- Deal Expert
- Feb 29, 2008
- 21738 posts
- 21353 upvotes
- Tarrana & The Ri…
What's so hard to understand? You get a brand new house ie: no renovations, no "surprises". You also get to pick your own finishes and build it how you liek instead of paying a premium for somone elses renos/decor and having to pay money to change it.
On top of that, the thought is the price will appreciate and it tends to be cheaper than resale.
Those are all the advantages. There are plenty of disadvantages too.
On top of that, the thought is the price will appreciate and it tends to be cheaper than resale.
Those are all the advantages. There are plenty of disadvantages too.
- Brookside05
- Sr. Member
- Jan 15, 2013
- 890 posts
- 158 upvotes
- Mississauga
Man I wish I was fighting over 3k here in the GTA. I always need to put up the 20k from my max offer which equates to 1-2 decent cars that I need (I end up losing).FirstGear wrote: ↑ I'm in Alberta so the market is very different VS. GTA, GVA, as we are in a recession. But builders here are greedy too. They don't overprice by forcing appreciation, but while you can often bargain <=3% in one area for a very similar resale property, you're lucky to get <=1% off.
Going through that right now, as I've been writing offers on an university condo here. We are currently fighting over $3000.
If you really like what you're going for and don't earn minimum wage just try to settle at 1500-2k and call it a deal.
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