Toronto Preconstruction Condos for Empty Nesters: Downsizing with Luxury
The kids have moved out. The house feels bigger than it needs to be. And the upkeep is starting to feel like a full-time job.
For many empty nesters in Toronto, this is the moment when downsizing begins to feel less like a compromise and more like an opportunity.
Choosing a pre-construction condo doesn’t mean giving up space, comfort, or neighbourhood connection. It can mean trading yard work for skyline views, long maintenance lists for concierge service, and unused rooms for thoughtfully designed living.
Why Pre-Construction Appeals to Empty Nesters
After decades in a family home, many homeowners reach a crossroads. The house served its purpose beautifully, but life has shifted.
Pre-construction offers something resale often can’t: choice.
When you purchase early, you may have input on finishes, layouts, and sometimes even floorplans. You’re moving into something brand new, designed for modern living. No dated fixtures. No surprise repairs. No renovation to-do list waiting for you.
There’s also something reassuring about stepping into a fresh start, especially after years of maintaining an older home.
And in Toronto, location matters. Living close to transit, restaurants, cultural venues, and green space means daily life becomes simpler and often much more enjoyable.
Prime Locations Designed for the Next Chapter
Toronto offers exceptional pre-construction opportunities, and BAZIS developments are thoughtfully positioned in neighbourhoods that balance energy with livability.
Consider:
Bayview Woods – North York
Located near Bayview Village and Highway 401, Bayview Woods overlooks surrounding parkland and offers a quieter, more refined North York setting. Spacious balconies and thoughtfully designed amenities provide a sense of openness without the responsibility of a yard.
Queen Church – Downtown East
Situated at Queen and Church, this residence places you steps from streetcar access, heritage architecture, shops, and cafés. It’s an ideal choice for those who want to remain connected to the cultural energy of downtown while enjoying a well-designed home.
Bartley Towns – Eglinton & Victoria Park
For those not quite ready to give up space, these 3- to 5-bedroom freehold townhomes offer generous layouts and large terraces within the evolving Golden Mile neighbourhood, close to the newly-opened Eglinton Crosstown LRT and everyday conveniences.
Each community integrates retail, transit access, and amenities that support everyday convenience.
The Financial Side of Downsizing
For many empty nesters, selling the family home unlocks significant equity. Pre-construction purchases typically follow a staged deposit structure, which allows buyers to plan strategically while construction progresses.
Ongoing costs also tend to shift. Condo maintenance fees cover exterior upkeep, snow removal, landscaping, and shared amenities, replacing the unpredictable expenses of roof repairs, driveway maintenance, and seasonal yard work.
Downsizing can simplify both lifestyle and long-term financial planning.
Amenities That Elevate Everyday Living
Today’s condominium communities are designed around lifestyle.
For empty nesters, that often means:
- Fitness centres and yoga studios within the building
- Guest suites for visiting family
- Outdoor terraces and shared entertaining spaces
- Pet-friendly policies and designated areas
- Concierge services that make daily logistics easier
Instead of managing a large property, you’re part of a community that handles the details, freeing up time for travel, hobbies, and time with family.
Why BAZIS Stands Out
At this stage of life, you’re likely prioritizing quality, location, and how you want to spend your time. BAZIS communities are designed with that shift in mind, offering refined spaces in neighbourhoods that keep you connected to what matters.
Clear communication, transparent timelines, and defined customization options help buyers feel confident throughout the construction process. This is especially important when transitioning from long-term homeownership.
Downsizing Without Losing What Matters
The next chapter doesn’t have to feel smaller… just smarter!
You keep the location, the quality, and the views. You lose the excess space, heavy maintenance, and rising carrying costs.
For many empty nesters, downsizing into a pre-construction condo creates room — not just physically, but emotionally and financially — for what comes next.
If you’re considering your next move, explore BAZIS’ current communities and discover how thoughtful design can support your transition into this new phase of life.
Questions? Connect with BAZIS on social media (Facebook, X, or Instagram) and let us know!
Legal Considerations When Buying a Preconstruction Condo in Toronto
Buying a pre construction condominium in Toronto can be an exciting opportunity, particularly in a city shaped by long-term planning, dense urban development, and evolving neighbourhoods. For many buyers, preconstruction offers the chance to secure a new home in a growing community, often years before completion. At the same time, pre-construction condos come with a legal framework that differs meaningfully from resale transactions.
Understanding that framework early on can help buyers move forward with clarity and confidence. Here are some things you’ll want to know:
The Purchase Agreement Is Detailed by Design
Pre construction purchase agreements are longer and more detailed than standard resale contracts. This reflects the realities of building new communities from the ground up, where timelines, approvals, and construction phases unfold over several years.
These agreements outline deposit schedules, estimated occupancy dates, potential design adjustments, and closing costs. Because of their complexity, many buyers choose to have their agreement reviewed by a real estate lawyer with experience in pre construction condominiums, helping ensure they understand how the terms may affect them over time.
Ontario’s 10-Day Cooling-Off Period
Even for the best pre construction condos in Ontario, buyers benefit from a mandatory 10-day cooling-off period after signing a pre construction condo agreement. During this time, buyers can review the contract in detail, seek legal advice, and reconsider their decision.
If a buyer chooses to withdraw within this window, the agreement can be cancelled and the deposit returned in full. This period is built into the process to give buyers space to review the details carefully before making a long-term commitment.
Deposits and How They Are Held
Pre construction condos typically require deposits to be paid in stages over time. In Ontario, these deposits are generally held in trust and may be protected under provincial legislation and warranty programs.
Deposit structures can vary by project, so it’s important to understand how funds are held, when they’re released, and what protections apply. Clear deposit terms help provide reassurance throughout the construction period.
Timelines, Delays, and Occupancy
Construction schedules for pre construction projects are based on estimates rather than fixed dates. Purchase agreements typically include a range of possible occupancy dates and outline circumstances under which timelines may be extended, such as construction delays or regulatory approvals.
It’s also important to understand the distinction between interim occupancy and final closing. Interim occupancy allows buyers to move into their unit before the condominium is formally registered, while legal ownership transfers at final closing.
Interim Occupancy and Associated Costs
During interim occupancy, buyers pay a monthly occupancy fee, which usually includes estimated interest, property taxes, and maintenance fees. These payments do not go toward the purchase price of the unit.
Because the interim occupancy period can vary in length, understanding how these costs are calculated and budgeting for them in advance can help avoid surprises.
Design Changes and Project Adjustments
Most pre construction agreements especially in luxury condo developments allow for reasonable changes as a project progresses from early planning to completion. These may include minor adjustments to unit layouts, dimensions, materials, or shared amenities.
Agreements typically outline what types of changes are permitted and when buyer notification or consent is required. Reviewing these provisions helps align expectations between early marketing materials and the finished building.
Closing Adjustments and Final Costs
At final closing, buyers may be responsible for additional costs such as development charges, utility connection fees, warranty enrolment, and legal fees. Some of these costs are capped in the agreement, while others may be estimated.
Understanding which adjustments apply – and whether limits are clearly defined – allows buyers to plan ahead with greater certainty.
A Thoughtful Approach to a Long-Term Decision
Buying a pre construction condo in Toronto is a long-term decision, shaped by both legal detail and careful planning. Taking the time to understand how these agreements work allows buyers to focus on what matters most: choosing a home that fits their life, their timeline, and the city they want to be part of.
Questions? Connect with BAZIS on social media (Facebook, X, or Instagram) and let us know!
Reflecting on 2025: A Year of Progress, Community, and Gratitude at BAZIS
As 2025 comes to a close, we’re reflecting on a year that brought great momentum, meaningful milestones, and continued growth across our communities. While the broader market presented its challenges, this year also reminded us of the strength, resilience, and optimism that define Toronto, and the incredible people who make our work possible.
To our homeowners, partners, trades, suppliers, and community collaborators: thank you. Your trust and dedication fuel everything we do, and we’re grateful for another year of creating exceptional places to live.
With that in mind, here’s a look at some of the key moments and milestones that defined our year.
Bartley Towns: A Thriving Community in the Heart of the Golden Mile
Bartley Towns continued to flourish in 2025, with only a few remaining homes and many happy families now calling the community home. Throughout the year, we welcomed new homeowners, watched the neighbourhood grow, and saw this vibrant enclave take shape as a true cornerstone of Toronto’s Golden Mile.
The transformation of the surrounding Golden Mile district is well underway and promises even more connection and convenience for residents. The Eglinton Crosstown LRT is nearing completion, and the City’s Golden Mile Secondary Plan is reshaping Eglinton Avenue East into a lively, mixed-use corridor full of opportunity.
A standout element of this revitalization is the Golden Mile Community Innovation District, nicknamed “Communiversity” – a collaboration between the University of Toronto Scarborough Campus and Centennial College. This hub will bring education, training, and career pathways directly to the neighbourhood, enriching everyday life for the community and creating a dynamic environment for generations to come.
Queen Church: Continued Sales Momentum and Strong Construction Progress
Queen Church, our mixed-use condominium community at the iconic corner of Queen & Church, developed in partnership with Tridel, continued to see strong interest and steady sales throughout 2025.
Construction also progressed meaningfully this year. Our teams completed formwork on the P2 level of the underground structure, with foundation, drainage, and plumbing permits secured. The P1 level is nearing completion and we started preparing formwork for our Ground Floor slab, bringing us one step closer to rising above grade. Vertical construction is expected to begin in the near future. Soon, Queen Church will rise along Toronto’s skyline as one of the city’s most exciting new urban residences.
A major highlight on-site was the installation of Patrick Hunter’s vibrant “Pride Feathers” hoarding artwork. Rooted in Ojibwe tradition, the piece celebrates visibility, collaboration, and reconciliation, adding beauty, meaning, and cultural presence to this landmark downtown corner.
Those interested in following the progress can watch Queen Church come to life in real time via the live construction camera.
Looking Ahead: New Communities Coming Soon
Behind the scenes, 2025 was a year of preparation and planning as we gear up to introduce several new communities across Toronto.
From the nature-focused elegance of Bayview Woods, to the dynamic mixed-use vision at 895 Lawrence Ave East, to future landmark addresses at 750 Mt. Pleasant, 2350 Yonge Street, and 1366 Yonge Street, exciting things are on the horizon.
These upcoming projects reflect BAZIS’ commitment to inspired architecture, desirable locations, and thoughtfully designed urban living, and we look forward to unveiling more details in the year ahead.
Sharing Stories, Insights, and Inspiration All Year Long
This year, our blog and social channels continued to spotlight the best of living in Toronto, from homeowner tips and investment insights to neighbourhood guides and local events. We loved sharing stories that inspire, inform, and celebrate the communities we build.
Thank You for an Extraordinary Year
As we close out 2025, we’re filled with gratitude for the homeowners who chose us, the partners who collaborate with us, and the skilled trades and professionals who help bring our communities to life.
We look forward to an even brighter 2026 filled with new milestones, new beginnings, and new opportunities to shape Toronto’s future together.
From all of us at BAZIS, we wish you a warm and joyful holiday season and a wonderful year ahead!
What are you most looking forward to in 2026? Connect with BAZIS on social media (Facebook, X, or Instagram) and let us know!
Top 10 Reasons to Invest in a BAZIS Pre-Construction Condo
Toronto’s skyline has evolved dramatically over the past two decades, and BAZIS has been one of the developers at the forefront of shaping that transformation. With a reputation built on competence, integrity, vision, and responsibility, BAZIS continues to deliver luxurious, design-driven communities in some of the city’s most sought-after neighbourhoods.
If you’re considering investing in a pre-construction condominium, here are 10 compelling reasons why a BAZIS development stands out.
- A Reputation Built on Excellence
Over the last two decades, BAZIS has earned the trust of homeowners and investors by delivering iconic residential communities across Toronto. From Crystal Blu to 1 Yorkville, each project reflects a deep commitment to luxury, craftsmanship, and architectural innovation, making BAZIS one of the city’s most respected developers.
- Prime, High-Demand Locations
Real estate success starts with location, and BAZIS strategically builds in areas that offer strong long-term value. From bustling urban corridors to transit-rich neighbourhoods, every BAZIS property is thoughtfully placed where people want to live, work, and play. This supports both lifestyle appeal and investment growth.
- Striking Architecture That Stands Out
BAZIS is known for pushing boundaries with bold, contemporary architecture. Our portfolio includes some of Toronto’s most recognizable silhouettes, designed in partnership with acclaimed architects. These one-of-a-kind buildings stand the test of time and contribute to the city’s evolving urban story.
- Luxurious, Thoughtful Interior Design
Inside each BAZIS home, exquisite craftsmanship takes centre stage. From spa-inspired bathrooms to sleek modern kitchens, finishes are carefully curated for beauty, durability, and functionality. Investors benefit from residences that stand out in the market and command attention from future buyers and tenants.
- Quality Construction You Can Trust
Investing in pre-construction requires confidence in your builder. BAZIS’ meticulous construction standards ensure every project is delivered with diligence and care. Our dedication to quality and responsibility helps safeguard your investment and contributes to long-term building performance.
- Amenities Designed for Modern Living
Amenities play a major role in rental appeal and resale value. BAZIS communities feature sophisticated, lifestyle-enhancing spaces: think state-of-the-art fitness centres, elegant lounges, rooftop terraces, and serene wellness areas. These thoughtfully planned amenities offer residents options to relax, work, entertain, and stay active.
- Customization Opportunities During Pre-Construction
Buying early gives you the ability to select your preferred suite layout, finishes, and upgrades. Whether you’re styling your own future home or customizing an investment property to appeal to your ideal tenant, pre-construction grants flexibility you won’t find in the resale market.
- Strong Market Demand in Toronto’s Urban Core
Toronto continues to attract young professionals, newcomers, and students who prefer high-rise living in vibrant downtown neighbourhoods. Pre-construction condos continue to offer excellent rental potential and long-term appreciation, especially when backed by a reputable developer like BAZIS.
- A Future-Forward Vision for City Building
At BAZIS, we’re proud to be contributing to Toronto’s evolving landscape. With each development, our team strives to balance design expression, urban interaction, and sustainability. This forward-looking approach makes every project a meaningful addition to the city.
- A Portfolio of Iconic, High-Performing Communities
With standout developments such as Emerald Park, Exhibit, eCondos, Queen Church, and Bartley Towns, BAZIS has consistently delivered communities with strong resale value and enduring appeal. Investors benefit from joining a legacy of successful projects that have helped define modern luxury living in Toronto.
Invest in a Developer You Can Rely On
A BAZIS pre-construction condo is a long-term investment grounded in design excellence, premier locations, and quality craftsmanship. With Toronto poised for continued growth and densification, now is an ideal time to explore the benefits of investing in one of the city’s leading developers.
Learn more about BAZIS’ current and upcoming communities.
Thoughts? Questions? Connect with BAZIS on social media (Facebook, X, or Instagram) and let us know!
What the New GST Rebate Could Mean for First-Time Home and Condo Buyers
Buying your first home or condo is one of life’s most exciting milestones. In today’s real estate market, though, it can feel out of reach for many. While home prices in the Greater Toronto Area have eased slightly over the past year, higher interest rates and everyday cost-of-living pressures continue to make saving for a down payment and managing monthly expenses a challenge. There’s good news, though! New federal and provincial measures aimed at lowering the cost of buying a first home are incredibly welcome for Canadians ready to take that important step toward ownership.
If approved, the proposed First-Time Home Buyers’ (FTHB) GST/HST Rebate could deliver significant tax savings — up to $130,000 in Ontario, when combined with the provincial relief program — on new homes and condos, helping more young buyers enter the market and supporting the construction of much-needed new housing across Ontario.
How the New Rebate Works
The FTHB GST/HST Rebate is a proposed measure that would eliminate the GST (or federal portion of the HST) on the purchase of a new home or condo priced up to $1 million for first-time home buyers. For homes valued between $1 million and $1.5 million, the rebate would gradually phase out. Homes priced above $1.5 million would not qualify.
In simple terms, this could mean savings of up to $50,000 on the federal side alone. The Ontario government has also proposed a rebate of the full 8% provincial portion of the HST for first‐time buyers of qualifying new homes. Combined with the federal relief, that’s where the potential $130,000 in total savings comes from. This represents a meaningful difference for those taking their first step into homeownership.
Finance Minister Peter Bethlenfalvy called the provincial measure “money back in the pockets of hardworking Ontario families,” noting that this kind of support can help more young people and families finally enter the housing market.
Who Qualifies
To be considered a first-time home buyer, you must:
- Be at least 18 years old
- Be a Canadian citizen or permanent resident
- Not have owned or lived in a home owned by you or your spouse/common-law partner in the current or previous four calendar years
At least one purchaser on the agreement must meet these criteria and intend to use the property as their primary residence. The rebate applies to newly built or substantially renovated homes, whether purchased from a builder, built on your own land, or through a co-operative housing corporation.
Applications aren’t open yet. The rebates will only take effect once the federal legislation receives Royal Assent, which is expected later this year.
Why This Matters
The rebate couldn’t come at a more important time. With higher interest rates and construction costs, the up-front expenses of buying a home have become a significant hurdle for many Canadians. Eliminating the GST/HST for first-time buyers provides immediate financial relief while also helping to encourage new home construction, which is something experts agree is urgently needed to address Canada’s housing shortage.
Industry leaders have praised the measure as a “step in the right direction.” The Residential Construction Council of Ontario noted that the combined rebate “will help to prevent younger talent and families from leaving the GTA” by making it easier to afford a new home.
While some advocates point out that more systemic changes are still needed, such as easing development fees and improving supply, this rebate represents meaningful progress toward affordability.
What Buyers Should Know
Once the legislation is in place, buyers will still pay HST at the time of purchase but can apply to the Canada Revenue Agency (CRA) for the new rebate afterward. Builders will be able to credit the rebate only for homes that close after the law is enacted.
The rebate will apply to qualifying purchase agreements made on or after May 27, 2025, and before 2031, with construction beginning before 2031 and substantially completed before 2036.
The Bottom Line
Homeownership remains one of the biggest financial milestones Canadians strive for, and these new rebates could make that dream a bit more achievable.
If you’ve been waiting for the right time to buy, this may be it. A new BAZIS condominium or townhome in Toronto could be your opportunity to take advantage of upcoming savings while investing in a modern, energy-efficient, and beautifully designed home built for your future.
Learn more about BAZIS’ current and upcoming communities and stay tuned for updates on when the new rebate officially takes effect.
Thoughts? Questions? Connect with us on social media (Facebook, X, or Instagram) and let us know!
Financing Options for Purchasing Pre-Construction Condos in Toronto
If you’re exploring the purchase of a pre-construction condo in Toronto, it’s important to understand your financing options. Financing for pre-construction homes or condos is a little different than financing for a resale home or condo. That’s because unlike with resale, you’re not getting a mortgage or paying your full deposit right away. With a pre-construction purchase, you’re typically paying the deposit over time, during the construction period, with a deposit payment schedule. Mortgage financing usually kicks in at final closing, not at the time of purchase. You may need to provide a mortgage pre-approval when signing your agreement, and then formally qualify again when the condo is ready at final closing.
Read on to learn more!
Quick Recap: The Benefits of Buying Pre-Construction
As we’ve covered in previous blog posts, pre-construction condos offer many benefits. These include customization options, modern design, and better potential rental income. They can also be a better investment compared to resale. New development condos purchased at the pre-construction phase offer the opportunity to secure the lowest possible price, flexibility in the financing, and other perks that increase their value, like top-notch amenities, fewer repairs and maintenance, and more.
Buying a pre-construction condo in Toronto can also offer a more flexible and approachable down payment structure.
Understanding the Deposit Structure
Most Toronto pre-construction projects require a deposit of between 15% and 25%. This may seem like a lot, but the amounts are broken up and spread out over several months or even years.
Here’s what that deposit schedule might look like, as an example:
$5,000 deposit due on signing
5% due within 30 days of the offer
5% due within 90 days
5% due within 180 days
5% due at the time of occupancy
In some cases, especially for investors or first-time buyers, builders may offer limited flexibility or extended deposit structures. Some new home builders and condo developers also offer deposit loan programs or incentives. Home buyers and investors often use a line of credit or savings to cover deposit payments.
By contrast, when purchasing a resale home or condo, a deposit of around 5% is typically required to secure a property. Once the offer is accepted, buyers must pay their full down payment upfront. In Canada, the minimum down payment required to finance a home with a mortgage is 5%, but many people aim to put down at least 20% in order to secure a better mortgage (and a 20% down payment is a requirement for homes valued at $1.5 million or more). Down payments of less than 20% mean that your mortgage may be classified as high-ratio, which typically means that mortgage default insurance from the Canada Mortgage and Housing Corporation (CMHC) is required in order to protect the lender from the risk of borrower default.
Mortgage Pre-Approval
When buying a pre-construction condo in Toronto, even though you won’t need the mortgage for a few years (when the condo is fully constructed and ready for move-in), a mortgage pre-approval is often required at the time of signing. This is in order to show the builder that you’re financially qualified.
Rates and terms may change by final closing, so buyers should be prepared to re-qualify closer to occupancy. Click here to learn more about evaluating your financial situation and getting pre-approved for a mortgage.
Final Mortgage Approval at Closing
At final closing, you’ll need to secure a mortgage for the remaining balance of the purchase price (minus the deposit you’ve already paid).
Be prepared to:
- Re-qualify under current mortgage stress test rules.
- Provide updated income/employment information.
- Work with a mortgage broker or lender experienced in pre-construction.
Interim Occupancy vs. Final Closing
In condos, you may get interim occupancy before you officially own the unit. During this period, you pay occupancy fees, which are different than mortgage payments. You can’t mortgage the property until the date of your final closing.
Government Programs & Incentives
When financing your Toronto pre-construction condo, remember to take advantage of all available government programs and incentives. These may include:
- First-Time Home Buyers’ Tax Credit
- RRSP Home Buyers’ Plan
- GST/HST New Housing Rebate
- Land Transfer Tax Rebates
- And more! (Learn more here.)
Check out our blog post “Everything You Need to Know About Buying a Pre-Construction Condo in Toronto: FAQs” for more info.
Do you have questions about financing or buying a pre-construction condo in Toronto? Connect with BAZIS on Facebook, X, or Instagram – we’d love to hear from you!
BAZIS Brings Contemporary Condo Living to the Shops at Don Mills Neighbourhood
We’re excited to announce that BAZIS is set to transform the landscape of Toronto’s Shops at Don Mills neighbourhood with our ambitious new condominium project at 895 Lawrence Avenue East. The dynamic development will feature 1,150 suites across three buildings and will offer exceptional amenities, ground-floor retail, and restaurants, reflecting BAZIS’ commitment to urban intensification and modern living.
Read on to learn more about this upcoming condo community and its prime location.
Don Mills: A Visionary Neighbourhood
895 Lawrence Avenue East is located immediately west of the CF Shops at Don Mills shopping centre at Don Mills Rd. and Lawrence Ave. East, just west of the Don Valley Parkway (DVP) and east of Leslie St. The 2.14-acre site offers residents unparalleled access to a blend of retail, dining, and entertainment options, making it a prime spot for urban dwellers seeking convenience and lifestyle amenities.
As one of Toronto’s first master-planned communities, Don Mills was designed in the 1950s to blend residential living with green space, retail, and community amenities. Nestled in North York, it offers a unique mix of urban convenience and suburban charm, with winding streets, mid-century architecture, and access to scenic parks and trails. Culturally diverse and well-connected, the neighbourhood is home to schools, cultural centres, and major roadways like the DVP and Lawrence Avenue. Don Mills remains a vibrant and evolving community that’s ideal for those who value lifestyle, location, and thoughtful design.
Proximity to CF Shops at Don Mills
The CF Shops at Don Mills is Toronto’s premier open-air shopping destination, boasting over 70 retail stores and a total floor space of 511,824 square feet. Developed by Cadillac Fairview, this lifestyle centre features a mix of high-end retailers, gourmet restaurants, and entertainment venues, including a Cineplex VIP Cinemas and the recently opened Eataly, which occupies nearly 9,800 square feet. The centre’s design, characterized by storefronts facing a network of private internal streets and a central square with a clock tower, fosters a vibrant community atmosphere and offers plenty of modern conveniences and entertainment options close to home.
Enhanced Connectivity and Amenities
Residents of 895 Lawrence Avenue East will benefit from excellent connectivity, with major roadways like Don Mills Road and Lawrence Avenue East providing easy access to the rest of Toronto. Public transportation is readily available, and the upcoming Eglinton Crosstown LRT is expected to enhance east-west connectivity, further improving accessibility. Additionally, the neighbourhood is home to several municipal parks, including Bond Park and Moccasin Trail Park, offering ample recreational opportunities.
BAZIS’ redevelopment of 895 Lawrence Avenue East signifies a bold step in urban residential planning, seamlessly integrating modern living spaces with the rich tapestry of amenities offered by the Shops at Don Mills neighbourhood. With its strategic location adjacent to the CF Shops at Don Mills, enhanced connectivity, and thoughtful design, this project is poised to become a landmark development, catering to the evolving needs of Toronto’s urban population.
895 Lawrence Avenue East is coming soon. Register now to receive priority community updates as soon as they’ve available.
Questions? Comments? Connect with BAZIS on social media (Facebook, X, or Instagram) and let us know!
Everything You Need to Know About Buying a Pre-Construction Condo in Toronto: FAQs
Toronto’s real estate market continues to be one of the hottest in Canada, and for many buyers, pre-construction condominiums offer an exciting opportunity to invest early. Whether you’re a first-time buyer looking for an affordable way to enter the market or an investor seeking long-term appreciation, purchasing a pre-construction condo can be a strategic move. But how does it work? What should you look out for? And is it the right investment for you?
To help you make an informed decision, we’ve compiled answers to some of the most frequently asked questions about pre-construction condos in Toronto. Read on to learn more.
What Are Pre-Construction Condominiums?
Pre-construction condominiums (also referred to as pre-construction condos) are residential units sold by developers prior to being constructed, meaning buyers purchase them before they’re built. This means that buyers make their selection based on floor plans, renderings, and other specifications provided by the developer. The construction process typically takes several years, during which time buyers make installment payments toward their purchase.
Are Pre-Construction Condominiums a Good Investment?
Investing in a pre-construction condo can be a great way to enter or diversify your real estate portfolio, especially in Toronto’s thriving real estate market, where demand for housing remains strong. These properties often appreciate in value over time, offering potential financial gains. However, as with any investment, there are risks involved, such as market fluctuations and project delays. It’s important to do thorough research and to consult with real estate professionals before making any final decisions about pre-construction investments.
How Do I Finance a Pre-Construction Condominium?
Financing a pre-construction condo is similar to financing any resale property. Buyers typically must secure a mortgage to cover the condo’s purchase price; however, pre-construction condos often require a larger initial down payment. Since the property isn’t built yet, developers typically structure payments in stages. To ensure a smooth financing experience, it’s best to work with an experienced mortgage broker or lender who specializes in pre-construction financing.
What Should I Look for in a Developer?
Choosing the right developer is crucial when buying a pre-construction condo. Look for a developer with a strong track record of completing high-quality projects on time and within budget. Research their past developments, read reviews from previous buyers, and check for any legal issues or complaints. An experienced and reputable developer reduces the risks associated with pre-construction purchases.
What Fees Should I Expect When Buying a Pre-Construction Condominium?
Beyond the purchase price, pre-construction condo buyers in Toronto should be aware of additional costs, including development charges, occupancy fees, and closing costs. These expenses can add up, so it’s important to factor them into your budget early on to avoid any unexpected surprises when it’s time to take ownership. Plan ahead and be prepared.
What Happens if the Project Is Delayed or Cancelled?
Delays or project cancellations are one of the greatest risks that pre-construction condo buyers face when purchasing pre-construction properties. Delays can force buyers to wait longer before taking possession of their unit. In the case of cancellation, buyers may be entitled to a refund of their deposit, but it’s essential to review the terms of your purchase agreement to understand your rights and the developer’s obligations in such a scenario. Having a real estate lawyer review your contract can provide added peace of mind.
How Can I Resell a Pre-Construction Condominium?
Once construction is complete and the building has been registered, buyers have the option to move in or sell their unit. If the market has appreciated, reselling can be profitable. Buyers can work with a real estate agent or list the property themselves to find suitable buyers. Some pre-construction contracts include restrictions on assignments (selling a unit before the building is complete), so it’s important to review your purchase agreement carefully.
Do you have any questions that we haven’t covered here? Connect with BAZIS on social media (Facebook, X, or Instagram) and let us know!
Toronto Real Estate 2025: Charting Trends for a Dynamic Market
Toronto’s real estate market is a hot topic among buyers and sellers curious about what 2025 might bring. Taking into account all the factors that might shape its future, from affordability to market trends, here’s a straightforward look at what to expect from Toronto’s real estate market in 2025, complete with practical insights and predictions to help you navigate it with confidence.
The Current Status of Toronto’s Real Estate Market
Before we dive into the 2025 forecast, let’s take a quick look at what’s happening in Toronto’s real estate scene right now. Over the years, high demand and limited supply in Toronto’s housing market have pushed up housing prices in Toronto. Higher competition among buyers results in bidding wars that further drive prices upward.
Key factors that are expected to affect the Toronto real estate market in 2025 include:
- Economic Outlook: 2025 will see economic factors like unemployment, inflation, and interest rates playing a crucial role in shaping the real estate market.
- Government Policies: Modifications in government housing laws, such as tax laws and mortgage rules, can significantly affect Toronto’s real estate market.
- Demographic Trends: Demographic trends, such as the aging population and changes in immigration rates, can significantly impact housing demand.
- Supply and Demand Dynamics: Supply-demand dynamics will continue to be one of the primary determinants of Toronto real estate prices in 2025.
Forecast of Toronto’s Real Estate Market for 2025
Based on recent trends and projections, here are some predictions for the Toronto real estate market in 2025:
- Continued Price Growth: Toronto housing prices are expected to see gradual price gains through 2025, but at a slower pace. Limited supply and strong demand will keep housing costs high in certain neighbourhoods, further supporting higher home values.
- Condominiums in Toronto: Condos may become more popular in 2025 as buyers go for cost-effective alternatives to single-family homes.
- Focus on Sustainability: With increasing environmental concerns and rising environmental consciousness, 2025 will witness an emphasis on eco-friendly and energy-efficient housing options as a priority among developers and buyers alike. Developers will prioritize properties that offer long-term cost efficiency.
- Technology Adoption: Real estate industry technology adoption has risen significantly over time and this trend is anticipated to continue throughout 2025. From virtual tours to blockchain transactions, technological advancements will transform how properties are bought and sold in Toronto.
- Suburban Resurgence: As urban areas become more crowded and expensive, suburban communities and neighbourhoods could experience a resurgence by 2025 as buyers searching for more space and affordability turn toward suburban neighbourhoods for their housing needs.
Tips for Navigating Toronto’s Real Estate Market in 2025
If you’re thinking about buying or selling property in Toronto in 2025, here are a few tips to make the process smoother.
- Hire a Real Estate Professional: Expert real estate agents can provide valuable insights that can help you make informed decisions in an ever-increasingly competitive market.
- Conduct Thorough Research: Before entering the market, be informed on market trends, neighbourhood developments, and pricing dynamics. This will equip you well for this competitive arena.
- Be Adaptable: Real estate markets can be unpredictable; we must remain adaptable and open to opportunities as they present themselves.
- Consider Long-term Value: When making real estate investments, consider their long-term value and potential appreciation over time.
The Toronto real estate market in 2025 will experience further expansion and diversification. By remaining informed, taking proactive steps, and seeking professional advice, you can navigate this market with confidence and reach your real estate goals in years to come.
Are you planning to make any real estate moves this year? Do you have any questions or concerns? Connect with BAZIS on social media (Facebook, X, or Instagram) and let us know!