If you consider remaining inventory as the suites that no one wants, think again. Developers do not always make all the units within a project available at the same time; instead, they may release new suites weekly or monthly after an initial launch. As for pricing, many buyers assume that the best prices are only available during a project’s initial release, but this is not always true. While pricing typically follows a pattern where prices increase in each phase, developers may keep prices the same for up to six months after the initial launch. It’s important to keep in mind that a sum of money that may seem high now could represent a great deal later on.
When it comes to remaining inventory, some buyers tend to focus on the potential drawbacks. However, it’s important to consider the advantages as well. For instance, with inventory units, you may have the opportunity to view what you’ll be purchasing before committing to buy. Additionally, waiting may lead to a better deal, as developers may implement incentives such as cashback on closing or free parking when tenants start moving in. These deals can lead to significant bargains, so it’s worth keeping an eye out for them. Moreover, you may be able to put down a smaller deposit for an inventory unit than you would have during early pre-construction.
It’s easy to get caught up in the hype surrounding a new development’s launch, but it’s important to remember that marketing tactics do not always reflect a suite’s true value. Platinum pricing can be great in the right situation, but a suite is not a good investment simply because it’s brand new. Similarly, remaining inventory and units in older buildings are not bad investments just because they have been around longer. A wise investment is one that meets your needs and focuses on factors such as price per square foot, layout, unit size, and location. An experienced real estate agent who knows both the pre-construction and resale condo markets can help you find the right investment or living space for you.