Bold I know, forgive me. I am passionate about new construction presales. But really, don't buy without talking to me first!
Sales centers are readily available for Buyers to wander into and, let's face it, they are fun. Tons of homes to look at and all of them are staged and looking great. It fosters the dream of living in the perfect (and clean!!!) house. From there it's an easy transition into writing an offer but before you do there are a few things to consider.
Staff at the sales center work for the developer, not you. They are wonderful people and many of them I count on as trusted professionals HOWEVER they are looking out for the interests of the developer and their contracts are written by the developers lawyers to protect the developer. There are several things to be aware of that are commonly written within these contracts such as extensions on completion dates, deposit structure, and materials used in construction. These are things that you need to know BEFORE you sign. I can walk you through this and translate the legalese into understandable terms.
By all predictions, when I consider the Fraser Valley Market now is the time to invest in a presale. Recent publications from CMHC state new highs in pricing by 2026 and declining interest rates will allow more buyers to jump into the market.
Buying presale now (with relatively little down) and holding on until market pricing increases could be an excellent investment that could pay out within the next 3-5 years.
Let's talk about how we can make this work for you and, if nothing else, we will get to see some great new homes and learn the latest trends in home décor!
Written by Christine
See the full article from CMHC here. https://globalnews.ca/news/10402920/home-prices-cmhc-report-april-2024/
