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How To Buy A Pre-Construction Townhome

How To Buy A Pre-Construction Townhome

There are benefits of purchasing a pre-construction townhome. It’s an interesting way to be part of a project, like a totally new condo in a residential district, or have the initial claim on the penthouse in the most recent building.  Most times you also have the option of capitalizing on a couple of discounted early phase pricing.

Should I Purchase a Pre-Construction Townhome?

Is the real estate business right for me? This thought may cross your mind a few times. It is sometimes hard to reckon how a Townhome will look just staring at the blueprint. Not to worry, your developer will offer you a computer simulation model that is close to the real thing to aid your decision making. By implication, you won’t be purchasing blindly.

There are strings of benefits you gain when you buy a pre-construction home. The most appealing is the low price you can access when purchasing this property. Often, these pre-construction properties are sold in “buying phases”.  The value is increased after a particular amount of units have been sold. In certain instances, it could be after a 25 percent sale while for properties in high demand, the value may be raised after only 10 percent of the units have been sold

You may ask yourself, how do I buy an apartment that I have neither seen, touched nor even walked through?  Or how do I know what the views from a particular floor would be like?

Let’s guide you:

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1. Let the offering plan guide you

The offering plan is your de facto guide when purchasing. It contains all you need, from the selected appliances, opinions on taxes that tax lawyers have deemed as best after assessment of the completed building by the city. It will also have a “special risks” section, which will include things like whether or not the developer has the right to rent any unsold units.

Be informed that the developer is only bound by law to render the contents within the offering plan, not the content of the brochure or what’s in the offering.

2. Choose an experienced developer

Carefully study the track record and the reputation of the developer. A developer having a strong customer/client base means you will not be disappointed. The presence of issues or other forms of problems may require you to verify before you purchase.

Checking out discussion forums using Google about the developer is not a bad idea, any estate attorney with years of experience can also make recommendations,   on whom or who not to deal with.

Allowing your broker advice you is the best way of finding an experienced developer. Get the counsel of an informed broker on antecedent of the developer, level of past developments, resale history, information on his success in past construction and development.

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3. Make sure you secure Phase 1 pricing

Pre-construction apartments are sold in stages of pricing, buying in the first phase, helps you save 5 to 10 percent off the final listing price. However, the best units are sold last because prices are highest then.

4. Confirm the quality of the materials

Contained in the offering plan are the materials, you must be meticulous when inquiring about them. At times engineered floor is used to mask a light sheet of oak floor. In this way, you have engineered floors in place of the oak floor in contrast to what was originally assured in the offering plan. You will need to get precise details on the type of floor by asking the sponsor, for instance, the percentage of oak used on the floor.

Construction variations seem normal to sponsors and so they are allowed to make changes in everything, from materials to ceiling height contained in the offering plan. For this reason, it is advisable for your attorney to inquire about the standards for variations for the construction company and get details of the contract.

Though sponsors do not like people inspecting the apartment under construction but you should try to negotiate this. It will be less difficult to get them to allow you inspect the apartment if you are purchasing a signature apartment.

Importance of Purchasing Pre-Construction

You can get involved in real estate in numerous ways, however, pre-construction real estate happens to be the fastest growing with some of the quickest and highest returns.

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Pre-construction real estate should be given serious consideration because pre-construction condominiums have the best pre-construction real estate on the market presently. They are found everywhere, but some locations are going through a preconstruction real estate increase because of increased demand for accommodation in these areas.

Lower starting prices are the primary reason why investing pre-construction estate is a sure bet. Buying at the commencement of a sales launch is the best because the builder presents the lowest prices at this time. This is the best time to make appreciable returns on investment.

When you buy early, you purchase a home with better future value at the current price; you also have freedom to choose from different options. There is a wide selection of floor plans to choose from, so you can make changes to your own unit. This makes your home unique because it stands out of the crowd.

Because people demand condos in hot locations, you won’t wait long to see a return on your investment compared to if you bought a home or property before construction, which yields faster returns. Selling or renting a never lived in condominium or home is much easier to sell than an older one.

The opportunity of instant equity provides the best perk of investing into pre-construction real estate. Meaning you don’t wait for investment return to come up in years, it does so right away as soon as you sign the agreement of purchase & sale.

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Numerous incentives come with a pre-construction real estate investment market. Developers offer extras because they want to retain investors or woo investors initially. These benefits often increase the worth of the real estate that you are looking to invest in immensely. Examples of these benefits include upgrades, appliances, furnish or direct credits off the purchase price. Every benefit increases the worth of the property.

After making a purchase and investing now comes the waiting game. It will take years to close out, moreover construction setbacks is fairly common. The condo’s worth will still, appreciate at a higher than average rate, giving you a handsome income on your 15-20% down payment.

Presently, preconstruction condos are the in-thing in the real estate market. If you have been thinking of investing in a pre-construction condo or home, then feel free to contact us. We provide free research to help you make that decision, define your investment goals and bring you to the pre-construction project of you dream.

Featured photo credit: Pre-construction Home via pre-constructionhomes.com

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Last Updated on July 4, 2019

25 Killer Sites For Free Online Education

25 Killer Sites For Free Online Education

Whether you’re five or ninety five, the internet has a lot to offer. Particularly when the topic is education, the resources on the internet are endless.

Best of all, many high quality sites are completely free. From history to coding, excellent free online education awaits on the following 25 sites.

1. Coursera

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    Coursera is a website that partners with universities and organizations around the world. This brings a wide variety of topics and perspectives to one searchable database.

    Coursera is a powerful tool for free online education, and includes courses from many top universities, museums and trusts. This gives the site an extremely wide range of in-depth courses.

    Coursera is extremely useful if you’re looking to study many different topics, or want courses from different schools and groups.

    2. Khan Academy

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      Partnering with many post secondary schools, Khan Academy offers a useable, well organized interface. Also curating many courses from around the web, Khan Academy offers impressive depth on many different subjects.

      Among the more well known educational sites, Khan Academy is also incredibly useable, which may make it easier to keep learning goals.

      3. Open Culture Online Courses

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        If you are struggling to find exactly the material you are looking for, try Open Culture’s listing of free online education courses. The page highlights 1000 lectures, videos and podcasts from universities around the world. The site features a lot of material found only on universities private sites, all in easy to browse categories. This means you can find hundreds of university courses, without having to visit and search each university’s own site.

        Open Culture’s list features courses from England, Australia, Wales and many state universities around the United States. A very helpful resource for finding many courses in one area of study.

        4. Udemy 

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          Udemy’s free courses are similar in concept to Coursera’s but additionally allows users to build custom courses from lessons.

          Working with many top professors and schools, the site mixes the customizable platform of other sites with a heavy emphasis on top quality content. This is another site however, that mixes free and paid content.

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          5. Academic Earth

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            Another site with courses from many different schools is Academic Earth. Much like the three sites above, Academic Earth brings together top notch courses from many different sources, and focuses on offering a wide variety of subjects.

            Academic Earth lists courses by subject and school, so it might be easier to find what you’re looking for.

            6. edX

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              Another great option for free online education is edX. Also bringing together courses from many different schools, the site has impressive, quality information for everyone. edX covers a great range of topics.

              7. Alison

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                Unlike the previous sites on this lists, Alison is a free education site offering certification in some areas. Alison offers courses mainly in business, technology, and health, but also includes language learning courses.

                It’s a great option if users need certification for their learning as Alison also offers school curriculum courses.

                8. iTunesU Free Courses

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                  A very convenient place for free online education is iTunesU, because it integrates seamlessly with your iPod, or any app-ready Apple mobile device. On iPad, iPhone, or iPod touch, users download the iTunesU app.

                  Desktop users can access  iTunesU on the upper right hand corner of the iTunes Store. iTunesU is also convenient because the store is categorized much like iTunes.

                  Users can search learning materials in many different ways, including genre and topic. However, courses are often a mix of free podcasts or videos, and paid content.

                  ITunesU does include courses on a pretty wide scope of topics, but does not integrate with Android, Google or Windows mobile devices.

                  9. Stanford Online

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                    Your hub for all the online offerings from Stanford University, Stanford Online offers self-paced and session based courses. While Coursera features some courses from Stanford, many classes are only available via other hosts. Some courses require iTunes, but most are completed in your web browser.

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                    Stanford Online is a great site for high quality courses, though the topics are somewhat limited compared to sites partnered with more than one school.

                    10. Harvard Extension

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                      Like Stanford Online, Harvard Extension features free online education courses from Harvard only. This is another excellent source for top notch course material, though the course variety is less rich than multi-school sites.

                      Additionally, Harvard Extension allows you to search for courses by professional certificate. This makes it much easier if your online education goal includes certification.

                      11. Open Yale Courses

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                        Open Yale Courses echoes Harvard Extension and Stanford Online, in that it offers only courses from Yale. While the site is similarly limited to topics taught at the school, Open Yale Courses offers a lot of videos of actual campus lectures. The availability of videos makes the site a great option if you’re looking for quality courses, but learn better by watching than by reading.

                        12. UC Berkeley Class Central

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                          Much like the other schools on this list, UC Berkeley has a variety of free online education options. The school has slightly fewer courses than the schools above, but includes some supplementary lectures, webcasts and RSS Feeds, making it easy to keep up with the topics you choose.

                          13. MIT OpenCourseWare

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                            Similarly, MIT offers a variety of free courses. The school has a comparable number of courses to the schools above, plus includes very in-depth course materials on the subjects available. MIT also offers free RSS feeds, a convenient way to continue learning.

                            14. Carnegie Mellon Open Learning Initiative

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                              Carnegie Mellon’s free online education site is comparable with the other school’s on this list, however, Open Learning Initiative also covers a smaller range of topics. But for the topics that are covered impressive, in-depth material is available.

                              15. Codecademy

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                                Codecademy is a website dedicated specifically to teaching coding. Where other coding sites follow an example/practice session workflow, Codecademy includes a live practice window. This means you can practice coding while still viewing the lesson material.

                                The courses at Codecademy are well written and easy to follow and the website is organized very nicely. Codecademy features a centralized dashboard where you can monitor your progress, plus organizes lessons into complete modules. This lets you learn an entire language without needing to pick the next course manually.

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                                16. Code

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                                  Code is another website focused on coding and app writing. A site with high quality courses, Code also features learning options for kids.

                                  In addition to kid friendly courses, Code offers free online education classes on a wide variety of technology topics. These classes include app writing, robotics and Javascript.

                                  Most of the courses are also geared in a such a way that they can be useful in a classroom setting. This makes Code a great resource for harder to find coding topics, as well as various learning settings.

                                  17. University of London Podcasts

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                                    The podcast page on the University of London website is another great source for free education. While the courses are limited to podcasts, the site features podcasts from it’s own campus, as well as eleven universities in and around London. This gives learners a wide base of topics and lectures, but still ensures in-depth material.

                                    18. University of Oxford Podcasts

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                                      Similar to the University of London, the University of Oxford features many different podcasts. Most are public lecture series or lectures from visiting professors, with several different recordings available.

                                      The advantage to this particular site is that podcasts are organized into series, making it easy to subscribe to multiple lectures on one topic. Another good site for thoroughly in-depth lectures.

                                      19. BBC Podcasts

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                                        For the more casual learner, the BBC offers a wide variety of podcasts on many different topics. Most podcasts are updated weekly, and focus on everything from finance, to sports, to current events.

                                        Through the World Service line of podcasts, there are also many in different languages. The focus of these podcasts are less in-depth and theory based, which may be more accessible to the average person.

                                        20. TED-Ed

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                                          Another great destination for more general learning is TED-Ed. From the same people that brought you the all encompassing, motivational web series, comes a site chocked full of educational videos. Most include impressive animation, and all are ten minutes long or less.

                                          Not only is TED-Ed an excellent site for the curious, it also includes supplemental materials and quizzes on the videos. This makes the site extremely useful in formal education settings, as well as in entertaining ways to brush up on new discoveries and topics.

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                                          21. LessonPaths

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                                            LessonPaths is another great tool for those looking for a more usable and convenient way to access learning material. On this site, users create link playlists of their favorite learning materials from other sites. Users then rank these collections, making it easy to find many different high quality, accessible sources on a given topic.

                                            22. Memrise

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                                              Another impressive free online education site offering ease of use and convenience is Memrise. Available both on desktop and as an app, Memrise is a particularly powerful tool if you are studying a language. The site encompasses many other topics as well, though some of the course material is user generated content.

                                              Part of what makes Memrise special is their integration of games into the learning materials, mixing learning with entertainment.

                                              23. National Geographic Kids

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                                                The kids site for National Geographic is another site that makes free online education applicable for younger users. For those looking for kid friendly education, a large variety of games, puzzles, videos and photos keeps kids interested on this site.

                                                National Geographic Kids doesn’t organize learning into courses, making materials available by topic and medium instead. This makes National Geographic Kids a good option for those looking for a more casual learning environment.

                                                24. Fun Brain

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                                                  Fun Brain is another good option for kids who want to learn online, but focuses on games and fun puzzles. Particularly focused on math and reading, Fun Brain’s game based approach can be valuable if the child in question struggles to pay attention.

                                                  Fun Brain offers rewards and challenges as well, and is another site aimed at a casual learning experience for kids K-8.

                                                  25. Whyville

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                                                    Similar to the sites for kids free online education is Whyville a destination for preteen online learning. The site includes a variety of social features, with a focus on learning materials geared for young teens.

                                                    Whyville also mixes in educational games, to make the site a well rounded option for kids too old for simple games, but too young for heavy reading based material.

                                                    More About Online Learning

                                                    Featured photo credit: Dai KE via unsplash.com

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