The Truth About Pre-Construction Condos in Toronto (2023)

P.S. Whenever you’re ready there are 3 ways we can connect.
1 - Book an appointment with me 📅
calendly.com/t...
2 - Check out my weekly podcast, “The Tom Storey Show” 🎙️
/ @thetomstoreyshow
3 - Learn about my partnership with Scott Mcgillivray ✨
• Video
Video Chapters
Chapters
0:00 Like & Subscribe
2:15 Start Of Interview
2:54 Raglan House
6:45 Masterplanned Community
10:24 Cash Flow + Incentives
13:26 Closing Cost Transparency
15:07 Pre-Construction Deposit Structure
16:05 Price Gap Between Resale and Pre-Con
18:29 Interm Occupancy Explained
20:02 Assigning Your Unit Before Closing
22:31 Thanks For Watching

[@TomStorey]

Thank for watching! Different style of video this week. Hope you enjoyed it!

[@viewsfromthebalconyet-al1166]

My pre con experience with Greenland is the most horrendous experience of my life. Will never buy a pre con against and will advise anyone I know to stay away from it. You basically given your money to a developer so that they can use it as collateral to secure financing for other projects. Better invest in the market

[@CanadianSon]

Between the 3k top up and no closing costs. It sounds like they really need to sell or the prices for these properties must be astronomical

[@tas33v9]

Was definitely more sales inspired from the developers perspective, but great conversation that we can take a lot of information from!

[@afzalshaikh2128]

Great video, very informative. I’m curious how many builders offer “top ups”?

[@lafcadiothelion]

I bought a pre construction with this builder and had a terrible experience. A lot of delays with false “estimated closing” that costed me a lot because the very good mortgage approval that was extended twice expired. A lot of issues with the unit itself from low quality finishes, poor engineering design of hvac that broke and was completely redone, and cherry on top was the absolute horrendous customer service and property management that make up their own interpretation of the Tarion warranty, and outright refused to fix things or deny that there’s anything wrong. Stay far away from camrost.

[@Realtybetweenthelines]

Great Video!

[@TomStorey]

Thanks for watching!

[@Cd81234]

I have watched many of your videos Tom and enjoy (but more importantly educated) by most of them. This is not one of those videos. For the first 16 mins it seemed like a sales pitch for Raglan condos (not bad I may add) but not a video about answering the truth about pre-construction condos in Toronto as your title indicated. Your videos are normally very comprehensive with this one being very superficial.

[@TomStorey]

Hey Carlos , I was aware that some people would feel that way before posting the video. This is likely a one off video on the channel. But I think Christopher did a good job and was honest with answering questions. I felt it was better to post then to not post just because a few people may not like the marketing pitch. That’s why I put in timestamps to make sure that people could jump around to the parts they were interested in. Appreciate you watching and commenting.