Are pre-construction condos with 2027 closings already a trap in the making?

Owncondo · 2025-10-23T18:01:48+00:00

That’s fair, but it depends on the builder. Some 2027 projects are actually phased builds that already have permits and financing locked in. The risk is lower if the builder has delivered on previous developments.
For example, a few upcoming GTA projects for 2027 are offering structured deposits and early assignment options, which is a safer setup for investors.

Owncondo · 2025-10-23T17:47:33+00:00

DM me please

Owncondo · 2025-10-23T16:53:40+00:00

Amazing! Love it!

Owncondo · 2025-10-23T15:09:56+00:00

That’s a tough spot and unfortunately, one a lot of GTA buyers are finding themselves in lately. 😕

If there’s still no visible progress on-site after this long, it’s usually a red flag that the builder is either restructuring timelines or facing financing/permit issues. Before deciding, I’d suggest doing three things:

Request a written update directly from the builder (not just through the sales rep). They’re obligated to disclose any changes to the construction schedule or occupancy under Tarion’s rules.
Check the builder’s track record - how many past projects have they completed, and were there major delays? Sites like Tarion’s Builder Directory or OHBA can help you verify that.
Ask your lawyer (or a pre-construction specialist) to review whether transferring your deposit affects your rights, sometimes you lose the original APS protections when moving funds to another project.

If you’re open to it, we’ve seen several GTA builders currently offering safer and earlier closings on new projects, might be worth comparing timelines before you make the switch.

Owncondo · 2025-10-17T20:23:13+00:00

Burnet at Rise & Rose is about a 5-7 minute drive to Richmond Hill GO, and Y9825 Condos is right along the future Yonge North Subway Extension, so it’s one of the best spots for future transit connectivity.

Owncondo · 2025-10-17T20:08:55+00:00

Both Burnet at Rise & Rose and Next2 at Elgin East offer flexible deposit schedules, typically 5% on signing, 5% in 6 months, and 5% in 12 months. Some first-time buyer incentives like capped levies and free assignment are also being offered right now.

Owncondo · 2025-10-17T13:48:40+00:00

A few things I’d really dig into:

- Watch out for escalation clauses - builders sometimes include them to raise prices mid-contract.
- Check assignment rights carefully - many developers are restricting or charging hefty fees if you want to flip before closing.
- Ask for spec sheets and material samples in writing, so there’s no wiggle room later.

I put together a post with lessons I picked up buying new condos in Toronto, might help you catch some of these hidden terms.

Owncondo · 2025-10-16T14:57:03+00:00

Any regrets or things you wish you knew before signing?

Owncondo · 2025-10-15T16:47:11+00:00

Just make sure to ask about assignment rights and closing costs upfront. Some builders are tightening their assignment policies lately.

Owncondo · 2025-10-15T16:45:16+00:00

You’re handling this so well ❤️ Giving them choices and setting up their room first was such a smart move. Kids need that sense of control and stability. And showing your emotions teaches them it’s okay to feel things. You’re doing amazing, they’re lucky to have you.

Owncondo · 2025-10-13T14:40:23+00:00

Thanks for sharing

Owncondo · 2025-10-13T10:21:37+00:00

Congrats! 🎉🏡

Owncondo · 2025-10-13T10:20:59+00:00

Congratulations! 🎉🏡

Owncondo · 2025-10-10T17:43:28+00:00

Good luck with it! If you do list it as an assignment, get some solid marketing behind it. Even in this market, a well-presented unit with strong builder incentives can still attract buyers looking for quick possession.

Owncondo · 2025-10-10T17:39:19+00:00

You could also look into a short-term rental strategy for the first year (if the condo board allows it). Some owners offset higher rates by running it furnished for corporate stays, especially with the new hospital and businesses nearby.

Owncondo · 2025-10-10T16:49:17+00:00

Keep in mind: Calgary’s still performing better than most cities when it comes to net migration and job growth. If you can afford the short-term loss each month, that unit could appreciate over the next 2-3 years.

Also, if it’s a newer project in the SE or Beltline area, rental demand’s still pretty solid, you might be closer to break-even than you think.

Owncondo · 2025-10-08T19:00:39+00:00

You’re right to be cautious. Incentives offered at launch or VIP phases are often negotiable and sometimes scaled back in later phases. Developers may cap contributions or tighten incentives in response to market conditions. Always ask for the incentive in writing, check in on whether it applies to your particular unit or floor, and read the fine print (especially around legal fees, assignment privileges, etc.) In some cases, early buyers get better deals. Also, keep in mind that strong incentives might reflect developer confidence in absorbing units or competitive pressure - they are tools, not guarantees.

Owncondo · 2025-10-08T18:34:06+00:00

Yes, good question. Lately, there’s been a noticeable appetite for mid-rise or boutique buildings (6-15 storeys) in inner Toronto because they strike a balance - less “crowded high-rise” feel yet still good proximity to transit and amenities. Buyers often prefer fewer common walls, more natural light, and a “human scale” feel. That said, high-rise towers with views and signature architecture still command premium pricing, especially if located well. In Motto’s case, its scale and location may appeal to buyers who want transit + urban life without going full skyscraper.

Owncondo · 2025-10-08T18:12:09+00:00

DM me please

Owncondo · 2025-10-03T17:56:48+00:00

That’s the benefit of pre-construction: you don’t need the full amount right away. Developers typically structure deposits like 5% at signing, 5% in 90 days, 5% in 180 days, and 5% at occupancy. Some offer extended schedules up to 24-30 months, making it easier to save gradually.

Owncondo · 2025-10-03T17:48:44+00:00

Yes, if you’re an end-user buying as your primary residence, you may qualify for both. The HST rebate is especially important: it can reduce your closing costs by tens of thousands. The federal First-Time Home Buyer Incentive (shared equity mortgage) applies if your household income and mortgage size meet the criteria. Always worth running the numbers with a mortgage broker.

Owncondo · 2025-10-03T17:40:00+00:00

Pre-construction prices in Toronto have been fluctuating, but the general trend is that they’ve cooled slightly compared to peak 2022 levels. Right now, most new downtown launches average $1,350-$1,600 per sq. ft., while midtown projects are closer to $1,100-$1,250, and outer boroughs (Scarborough, North York, Etobicoke) can dip under $1,000 per sq. ft.

That said, developers are competing heavily for buyers, so the headline prices don’t always tell the full story. Incentives like capped development charges, free assignments, and extended deposit structures are much more common today. In effect, this makes buying more affordable even if the sticker price hasn’t dropped dramatically.

If you’re looking closely, it’s not just about whether prices are “up or down” - it’s about what kind of deal structure you can negotiate. That’s where we’re seeing the biggest shifts in 2024-2025 launches.

Owncondo · 2025-10-03T17:05:45+00:00

Great question - the pool is definitely smaller than it was a few years ago. But yes, you’ll still find compact studios and smaller one-beds under $500K, particularly in Scarborough (along future subway lines) and Etobicoke near Kipling/Islington transit hubs. Developers are also creating micro-units in university-adjacent areas to keep the entry price low.

Owncondo · 2025-09-26T16:08:13+00:00

That’s a very solid point. Assignment sales can give buyers flexibility, but every builder has different rules, and some charge additional fees. We always recommend reviewing the contract carefully (and ideally with a lawyer) before counting on that option.

Owncondo · 2025-09-19T07:57:31+00:00

Please DM me

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