A new real estate investment project is starting called Wellesley Condos. The address is 50 Wellesley Street in Toronto. These residences are being developed by Plaza Corp and designed by the Quadrangle Architects firm. This condo will have 28 storeys and around 223 units up for sale in spring of 2014.
Buying pre-construction condos is one of the best way to earn money in real estate investment. There are few key factors why this happens. During this sales phase, prices are much lower saving you thousands of dollars. There are about 6 sales phases and each time the price goes up. The developer offers incentives for the first group of purchasers. You will have the greatest selection of units and floors at this time. Most of what is left when the general public is allowed to purchase the units without a vip sales representative are the least desirable units.
To purchase a condo residence on 50 Wellesley, some sort of down payment, and pre-qualification for a mortgage is often required. One of the major banks is always in the sales center. One advantage to using them is that they will be the only ones that can hold the current mortgage rate for up to a year without any commitment on you part. It is always best to get pre-approved by the bank that is dealing with that project directly. The payment structure has not been released by the developer yet.
Location is a key factor to good real estate investment. Learning about the surrounding neighbourhood and area is crucial to make a wise decision. 50 Wellesley Residences are in a well established location that will continue to return grow and prosper. There will be no need to travel far, as all the major amenities are within walking distance. Public transportation provided by the TTC is right around the corner for those that require to get around Toronto.