Nailed It or Failed It? 🏗️🔨 The Real Costs of Pre-Construction You Didn’t See Coming

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Nailed It or Failed It? 🏗️🔨 The Real Costs of Pre-Construction You Didn’t See Coming

Pulling back the curtain on the true financial realities of buying pre-construction properties in Toronto and the GTA. While glossy brochures and model suites make these projects look like a dream come true, the hidden costs and risks often tell a different story.

Breaking down both the wins and pitfalls of pre-construction buying. On the upside, buyers get flexible deposit structures, modern layouts, and potential property value growth. But the downside? Premium prices  per square foot, unpredictable construction delays, hefty development fees, and closing costs that can leave your budget reeling.

Things get even more complicated when appraisals come in lower than expected. Jacqueline explains what happens when lenders won't cover the amount you were initially approved for and how buyers often face five- or six-figure cash shortfalls. She also dives into the risks of walking away, including deposit forfeitures and potential lawsuits from builders.

Sharing practical tips on how to protect yourself—like capping closing fees, vetting builders, and preparing for financial surprises.

Whether you're considering buying pre-construction or just want to make smarter property decisions, this episode is packed with valuable insights to help you avoid costly mistakes.

Key Takeaway: Pre-construction isn’t just about fancy finishes—it’s about understanding the fine print and planning for the unexpected.

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