In comparison, a newly-built condominium typically has lower ongoing costs, particularly during the initial 5 to 10 years of ownership. On the other hand, an older condo may entail expensive remodeling or the need to replace outdated systems, which would increase the overall investment. However, this can be avoided by choosing to purchase a condo that is naturally well-maintained and in good condition.
Developers may also offer to cover the cost of title transfer or provide discounts on association dues for a certain period. These incentives can significantly reduce the financial burden on buyers, making the investment more enticing.
To encourage buyers to commit to their project early, developers may offer incentives such as free upgrades or add-ons for the unit. These can include premium finishes, furniture packages, or even parking spaces. These incentives not only make the unit more attractive to potential buyers but also add value to their …