Tuesday 2 June 2015

Condo Launch Parties

Condo Launch Parties
There are two condo launch parties coming up in June and they both look to be great events. The Connelly is first to launch on June 13 & 14 at 11:00 am at the Art Gallery.  If you are unaware of this project than you must be living under a rock as they have done a pretty good job communicating with the market. It is located on James Street across from the YMCA and steps to the GO station.  They have kept the 1800 church façade and are planning a 30 story condo project that is aimed to the young and young at heart.  They are offering special incentives at the launch party which usually means upgrades and you can be one of the first to buy and hopefully get the unit you desire.
The second launch is the Tiffany Square project on June 18th at the Royal Yacht Club from 5-8 pm.  This project boasts water views and is the first project to build in the underdeveloped bay front.  It has a mix of suites geared to all age groups and families.  I would think those looking to downsize and wake up looking over the bay every morning is the target market for this project.  That is not say an investor or first time buyer can also be in the mix as they have a good mix of plans for the entire market. This project is the first to take advantage of the underserved area of the bay and I am sure it will do very well also. 
Going to any condo launch party you have to understand the process and what to expect.  They usually create a sense of urgency to help the sales happen but some projects sell themselves.  It is true the early bird gets the worm and if you want to get the best deals you should show up early to be first in line or better yet get with a broker who can arrange everything.  The prices tend to rise as the event goes on so acting fast or with the right broker can make a huge difference.  When it comes to buying a new product you have a cooling off period which means that you have 10 days to make sure you bought the right product.  This only applies to new condo projects and you do not have to give any reason just cancel the deal and your deposit is returned.

If you are considering on buying a new condo in one of these new projects or others coming to market you should call your broker or myself to understand the in’s and outs of the market and plan your game plan.  You can not only save thousands of dollars in your purchase but if you pick the right floor, exposure, with or without parking – you can make thousands and thousands more when you sell down the road.  Picking the right project, floor, size etc. is critical and making the right move will not only make you money but it will make the whole process stress free and enjoyable.