In Metro Vancouver, buying presale is an excellent option for those in the market for a home. Presale allows you to purchase a home prior to it being move-in ready, frequently before construction has begun. Typically, presale offers you the ability to choose a home with a layout style and number of bedrooms to suites your needs, in a colour scheme that suites your tastes.

There is much to love about purchasing a brand new home through presale, however there are some things to consider before you choose to go this route :

• Developers usually require a 20% down payment over the course of the construction period. This payment schedule is usually spread out over a period to 1–2 years, allowing you additional time to save for your deposit. Your mortgage payments don’t begin until your home is move-in ready.

• Often you will be buying your home before construction starts, so be prepared to stay in your current home anywhere from 1-–3 years while you wait for your brand new home to be ready.

Buying presale is not as simple as walking into a presentation centre and selecting the home you want. There are some presale best practices to follow :

• Stay informed on what new developments are coming to market in your desired neighbourhoods. You’re already on the right track reading this magazine! You can also stay up-to-date by frequently checking presale websites such as ours at www.macmarketingsolutions.com/projects.

• Furthermore, ALWAYS fill in the website registration forms for any new home communities that interest you. As a registrant, you will be the first to receive information as it becomes available. And, typically, you will be notified when sales begin prior to sales opening to the general public.

• Once you are registered, a sales associate will contact you. Provide them with as much information as possible as this helps them find you the right home for your circumstances.

• When selecting a realtor, find out whether they have experience working in presale, as well as if they have existing relationships with developers or project marketing companies such as MAC Marketing Solutions.

Especially in a hot market such as Metro Vancouver’s finding a home that fits your needs as well as your budget is hard work. However, finding success in presale is possible when you follow these tips.

Presale Real Estate 101 by MAC Marketing Solutions