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4 Cons of Buying Presale to Watch for

1- GST (5%) on all brand new homes

2- Valuation at the time of completion, if the market is down and the home values are down compared to the time you signed the contract to buy the presale, the risk and cons is that you need to cover the amount between the accepted contract price and what the financial institution or your lender's appraisal.

3- Finish Product. rendering and what you saw may be different that what you receive. It is good to review every amendment to the disclosure during the progress of project and also be aware of builder's reputation.

4- Time of completion. The completion date is an estimate and most of the times it gets amended to be delayed. It is important to have a plan and not count on the projected completion date.


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3 Points to Give you Advantage when Buying Presales
Looking to be more advantages when purchasing a presale in Vancouver well! you're watching the right video right here. My name is Axel Ziba.
I'm a managing broker and presale specialist in Vancouver, and I'll be happy to share three secret weapons, put you at an advantage.
And also as a bonus, I'm going to be throwing 3, 1, 2, 3 pointers to put you in a lookout for pre-sales as well.
Let's start with number one, Enter the market when the price is at the platinum stage. That's a time One of the biggest advisors in the industry once told me it's about time in the market, not timing the market. 2- too many people ignore this part.
Now always review your contract. Every developer and every builder, they have their own contract, which has been written in their favor.
And that's the one you have to make an offer upon. Also, there are about 300 to 400 pages of a disclosure.
You have to go through many things. This is a simple template. I always refer my clients into, have that carefully reviewed with the lawyer and making sure if there is anything that is not in a consistency with what you want, then you can use your seven day rescission period or rescind and walking away from that deal.
That's an advantage. Number three, that's stem from number one as well. So when you enter a project early, you have a lot to choose from so many floor plan.
Don't stick with only one floor plan, take a look at many different ones, the layout direction of the unit and analyze everything.
This is the one that's going to put you into the advantage. Now stay tuned because I want to throw in three pointers to keep an eye on when purchasing your presale, the things that you need to keep your eyes on is 1- number one deposit.
So take a look at the deposit instruction from the developer or a builder.
That's one of the things to look after for number two, to keep your eyes on is the developer or a builder's reputation. And I can't say enough about number three, focus on location.
We all say that in real estate, that is location, location, location. I'm going to say that again, focus on the best location.
If you like this content, make sure you like this video and subscribe for more helpful content that coming your way.
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I have sold a property at 3971 ELMWOOD ST in Burnaby.
FIRST TIME ON THE MARKET! This beautiful gem is situated at 3971 Elmwood St. and offers STUNNING UNOBSTRUCTED PANORAMIC VIEWS. A single family detached with Penthouse Views. Original owner has lovingly cared for and updated the home throughout the years. 1 Car garage & 1 carport with back lane access, which could be potential for Burnaby’s laneway plan. Enjoy the serene ambiance of backyard porch for your all year round entertainment with extraordinary VIEWS of City & Mountain in the backdrop. Downstairs you’d find a 1 bedroom separate entry Mortgage Helper suite. Ultra-convenient location! Walking distance to public transit, parks, Burnaby Hospital + close to all levels of schools, HWY 1 & Vancouver. electrical panel upgrade (1995), boiler and copper lines in basement (2000), underground sprinklers (2000/2015), roof re-done (2005), hot water tank (2015), Underground oil tank removed with certificated available (2014)
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7 Benefits of Presale in Vancouver

Struggling between resell or presale?

Well, that's what this video is all about. And we're going to discover seven, seven benefits of presale stay tuned. My name is Axel Ziba. I'm with Maxit Realty presale specialists in Vancouver.

So let's talk about pre-sell values and benefits.

1- Number one, presale gives you an ample time to save up for the deposit and it gives you enough time to save for that required down payment for your lender.

2- Number two, it gives you longer time to anticipate a move, and it gives you a preparation to plan that. Move ahead. That's a great advantage.

3- Number three, you're anticipating to only risk or benefit a partial of your money, which is 20 to 25% instead of putting the hundred percent of your money as for at resale homes.

4- Number four, despite of the fact that some people believe that pre-sales, they have a futuristic prices, maybe 20% higher than the current pricing. If you're purchasing at platinum stage, and if you're using your VIP realtor to get you that platinum pricing with your choices, then you also get some bonuses from, from the developer.

5- Number five, you have seven days to rescind the contract, meaning that within that seven days, you have seven days to do your due diligence in terms of reviewing everything and everything in regards to the disclosure, the amendment to disclosure, the second amendment to disclosure. And so on understanding the fact, do a drive by the projects or anticipated location of the project, making sure you understand, talk to your realtor about that location, particularly and the history of the growth I'm going to stop right there. That's a lot of benefits. Seven days, you can change your mind.

6- Number six, you get 2, 5, 10 warranty term for the upcoming projects. Two year on material and labor five years for the envelope of the building and ten year for structure of the building.

7- And number seven, the “funnest” part is to choose the theme of coloration, the hardwood floor, color, the cabinet color, what color you want or what material you want your counter to be. That's the fun fact. That was seven benefits for purchasing a pre-selling Vancouver. If you liked this content hit the light button right there and subscribe for more information as next video, we're going to be talking about the cons of purchasing at presale. Did I say cons? Is that an issue? Stay tuned. You'll find out.


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I have listed a new property at 406 1661 QUEBEC ST in Vancouver.
Welcome to VODA at the Creek by Concert Properties, a master planned development on the Seawall by one of the premier developers in the city. This air-conditioned one bedroom and flex home features over height ceilings, integrated Bosch and Bloomberg appliances, quartz countertops, and heated bathroom floors. The floor-to-ceiling windows offer generous amounts of natural light and the spacious private balcony offers plenty of room to entertain. Building amenities include: rooftop garden, courtyard, a well equipped fitness centre, concierge, bicycle storage and multiple visitor parking stalls. Just steps to the Seawall, all the shopping and restaurants of the Olympic Village and adjacent to the upcoming six acre False Creek waterfront park.
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I have listed a new property at 406 1661 QUEBEC ST in Vancouver.
Welcome to VODA at the Creek by Concert Properties, a master planned development on the Seawall by one of the premier developers in the city. This air-conditioned one bedroom and flex home features over height ceilings, integrated Bosch and Bloomberg appliances, quartz countertops, and heated bathroom floors. The floor-to-ceiling windows offer generous amounts of natural light and the spacious private balcony offers plenty of room to entertain. Building amenities include a rooftop garden and courtyard, a well equipped fitness centre, concierge, bicycle storage and multiple visitor parking stalls for your guests. Just steps to the Seawall, all the shopping and restaurants of the Olympic Village and adjacent to the upcoming six acre False Creek waterfront park. OPEN HOUSE: SAT/SUN 2-4.
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Please visit our Open House at 406 1661 QUEBEC ST in Vancouver.
Open House on Saturday, April 16, 2022 2:00PM - 4:00PM
Welcome to VODA at the Creek by Concert Properties, a master planned development on the Seawall by one of the premier developers in the city. This air-conditioned one bedroom and flex home features over height ceilings, integrated Bosch and Bloomberg appliances, quartz countertops, and heated bathroom floors. The floor-to-ceiling windows offer generous amounts of natural light and the spacious private balcony offers plenty of room to entertain. Building amenities include a rooftop garden and courtyard, a well equipped fitness centre, concierge, bicycle storage and multiple visitor parking stalls for your guests. Just steps to the Seawall, all the shopping and restaurants of the Olympic Village and adjacent to the upcoming six acre False Creek waterfront park. OPEN HOUSE: SAT/SUN 2-4.
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Please visit our Open House at 406 1661 QUEBEC ST in Vancouver.
Open House on Sunday, April 17, 2022 2:00PM - 4:00PM
Welcome to VODA at the Creek by Concert Properties, a master planned development on the Seawall by one of the premier developers in the city. This air-conditioned one bedroom and flex home features over height ceilings, integrated Bosch and Bloomberg appliances, quartz countertops, and heated bathroom floors. The floor-to-ceiling windows offer generous amounts of natural light and the spacious private balcony offers plenty of room to entertain. Building amenities include a rooftop garden and courtyard, a well equipped fitness centre, concierge, bicycle storage and multiple visitor parking stalls for your guests. Just steps to the Seawall, all the shopping and restaurants of the Olympic Village and adjacent to the upcoming six acre False Creek waterfront park. OPEN HOUSE: SAT/SUN 2-4.
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Please visit our Open House at 3971 ELMWOOD ST in Burnaby.
Open House on Saturday, April 9, 2022 2:00PM - 4:00PM
FIRST TIME ON THE MARKET! This beautiful gem is situated at 3971 Elmwood St. and offers STUNNING UNOBSTRUCTED PANORAMIC VIEWS. A single family detached with Penthouse Views. Original owner has lovingly cared for and updated the home throughout the years. 1 Car garage & 1 carport with back lane access, which could be potential for Burnaby’s laneway plan. Enjoy the serene ambiance of backyard porch for your all year round entertainment with extraordinary VIEWS of City & Mountain in the backdrop. Downstairs you’d find a 1 bedroom separate entry Mortgage Helper suite. Ultra-convenient location! Walking distance to public transit, parks, Burnaby Hospital + close to all levels of schools, HWY 1 & Vancouver. electrical panel upgrade (1995), boiler and copper lines in basement (2000), underground sprinklers (2000/2015), roof re-done (2005), hot water tank (2015), Underground oil tank removed with certificated available (2014) OPEN HOUSE: Sat, April 9th 2-4PM
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Where to Buy Presale in Vancouver?

 

Of course the keyword here is "Where" and that is a classic phrase in real estate world, Location, Location, Location!.

No matter if it is a resale or presale homes for sale in Vancouver, location is the most important factor to consider, when selecting a new construction property.

But there are so many development and new construction presale out there. How do you choose amongst those?

Since no one can predict the future in real estate, As a Vancouver Realtor and real estate specialist, I work with trends and data available for the past years.

The available data through British Columbia real estate Association and Vancouver Real Estate Board can be stretched to maximum year in beginning of 2005. There are two ways to analyze these data and available history.

- Home Price Indexing (HPI)

HPI provides an average benchmark value as well as a growth in a certain sub-area. It is important to know that although HPI includes all resale and new homes combined, yet it is a perfect start to know the average percentage of growth in an area.

- Average Sold Price

Similar to HPI, average Sold Price category shows an average growth in sales percentage, and with this category, we can separate new homes from older homes, number of bedrooms and more. 

Now we have two separate calculation result. One of the method of knowing where to buy a new construction or upcoming presale home for sale is to combine the two result of HPI and Average Sold Price in that sub-area and compare it with other communities. This way, you'd know which community and sub-area had the highest growth for the past five, ten or maximum number of years since 2005.


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