Why You Should Never Buy A Pre-Construction Condo

Preconstruction Condo

First Posted: 06/16/11 04:47 PM ET Updated: 08/16/11 06:12 AM ET

The Grid :

Until a few years ago, pre-construction condos offered buyers a true deal compared to resale properties. You would have likely paid $400 per square foot for pre-construction while prices at the two-year-old condo next door were $475. But times have changed, and so too has the industry. Today, I’m seeing a rise in “boutique” developers, poorer quality buildings and more and more frustrated buyers. Last year, I made a significant change in the way I do business: I completely stopped selling and advocating the purchase of pre-construction condo units. Here’s why.

Read the whole story: The Grid

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Filed by Scaachi Koul  |