Redfin has assigned the most competitive neighborhoodsWhy Do People Buy Presale? – Due Sunday Feb. 26th

Located on the shore of the Pacific Ocean, Vancouver is known for its stunning natural beauty and bustling economy. Many people choose to invest in real estate in Vancouver, whether it be for personal use or for investment purposes. One common strategy used by real estate investors in Vancouver is to purchase homes during the presale phase. Presale homes are homes that are purchased before they are built. Investors put down a deposit to secure the property and pay the remainder of the purchase price upon completion. The deposit amount varies depending on the presale project and unit type.

The most common reason for buying presale in Vancouver is for investment purposes. Due to regular market inflation, by purchasing a home during the presale phase, investors can often get a better price than they would if they waited until the home was completed. Moreover, developers often offer discounts and other incentives to attract buyers during the presale phase.

Once the home is completed, the investor can then sell the property for a profit. In this case, the investor would purchase the property during the presale phase and then sell the property once it is completed. This strategy can be particularly lucrative in Vancouver’s hot real estate market, where property values have risen significantly over the past few years

Alternatively, some investors may choose to assign their presale contract to another buyer before the home is completed. This strategy can be attractive to investors who do not want to take on the risk of owning the property but still want to profit from the sale.

In addition to investment purposes, some people choose to purchase presale homes in Vancouver for personal use. By purchasing a home during the presale phase, buyers can often choose the specific features and finishes they want in their home. This can be particularly attractive to buyers who are looking for a customised home that meets their specific needs and preferences.

Finally, some people choose to purchase presale homes in Vancouver to rent out after completion. This strategy can be particularly effective in Vancouver’s hot rental market, where demand for rental housing is high and rental rates are rising.

Purchasing a presale home in Vancouver can be a smart investment strategy for those looking to profit from the city’s hot real estate market. Whether for personal use, investment purposes, or rental income, buying a home during the presale phase can offer several advantages to savvy investors.