We have access to Toronto's MOST SOUGHT AFTER condo developments!

Who We Are

First Look Condos is a 100% transparent condo platform for all new condo projects for sale in Toronto and the GTA.
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First Look Condos does not represent the builder directly.

Why Pre-Construction?

There are 7 reasons why you should invest in Pre-Construction:

1. Investing in Pre-Construction, unlike any other real estate investment does not require you to waste your own time. Pre-Construction investments work on their own.
   
2. New condos are covered by a warranty during, and after the construction period. You are completely insured against any unforeseen losses that may occur in bankruptcy, or poor workmanship of the builder.
   
3. Pre-Construction investments give you options come occupancy. You generally have about 3 years to decide what you want to do with your new condo. You can either:
   a) Assign the contract at the end of construction
   b) Close on your unit and resell after 2 years of renting out your unit
   c) Close on your unit and use it as a long term investment
   
4. Investing in Pre-Construction allows you to invest without securing a mortgage. You generally pay your deposits over the course of construction.
   
5. With occupancy being 3-4 years away, you have the benefit of the rental market heating up and rental prices increasing to offset your mortgage and leave you with a positive cash flow.
   
6. When purchasing Pre-Construction, especially at the PLATINUM/VIP stage, you are not only saving on your purchase price but you are taking advantage of a deposit incentive. Usually you will pay a deposit of about 15% during your first year and the remaining 10% prior to occupancy.
   
7. During the construction period, the total cost of the condo units and real estate will grow on average of about 5% per year. This rate, combined with the right choice of neighborhood will yield a profit of anywhere between 40-70% on your deposit
   

Platinum Agent

“Working with a Platinum/VIP Agent allows you to access in the initial stage of the project as a VIP client and get the advance VIP pricing for a particular project prior to any public opening. Between the Initial VIP incentives and price increase to public, clients save between $10,000-$25,000 before online registration and public opening!"

The Purchase Process

Purchasing Pre-Construction can seem daunting, but it is actually quite simple.

1. Developers in the city generally work with a handful of brokers in their early planning process (known as PLATINUM/VIP Agents), and release their projects early to these brokers which in turn save their clients thousands of dollars on price as well as extra incentives.
   In the early phase, we can not advertise projects online, only word of mouth. If you are not on our mailing list please subscribe below.
   
2. Once projects are released, our clients receive detailed information regarding price lists and floor plans. Once you see a unit you like, we fill out a worksheet to secure your unit. All we need is your drivers license or passport.
   
3. The builder takes your worksheet and allocates a space in the building to the unit you chose. Signing takes place usually within a week of submitting your worksheet. You will need a $5,000 bank draft payable to the builders legal team which holds your deposit in trust.
   
4. Upon signing for your unit, you will take your agreement of purchase and sale to your lawyer for review. You have 10 days for your lawyers review and to firm up your transaction.
   
5. The builder receives your remaining cheques and all is complete for the time being.
   
6. Approximately one year before the end of construction, you will receive a notice from the developer to make arrangements for the final selections of your unit. Usually held at the decor center, you will pick which package of cabinetry and flooring you prefer. We only work with top grade builders, therefor you do not require upgrades.
   
7. Once construction is over, you will receive your keys. This is known as interim occupancy. During this time, you can chose to move in the building yourself, or rent it out prior to final occupancy. Generally a time frame of 2-10 months. The building is still under slight construction (hallways, elevators, etc) but you are able to occupy.
   
8. At the time of closing your unit is registered in your name, at which time you need to have all of your financials in order.
   a) At the time of final closing, the value of your unit would have risen considerably. Thus, when the bank appraises your condo, they see that you only need a mortgage for 60% of the value, even though you only put down 20% (vs 80% in a resale situation).