If you are one of that parent who are intending to pay for your child’s university/college expenses then you need to start saving by buying the right condo for your child. Many parents already know that buying a right condo in downtown, Toronto, is a good alternative for paying for their kids’ education.
You can invest in Toronto Condos with the aim to build an equity to support your child’s university/college education. By the time your child is ready to apply for university/college, you have a decent appreciation ready for your child's tuition.
For instance. If you buy a $300,000 condo unit at least 5 years before your child starts their higher education. Assuming an average rate of return of 4% annually increase on property, you may get the ROI of $60,000. It’s also subject to how the market may perform. Therefore after 5 years, your $300,000 condo unit may be worth $360,000! Assuming an average rate of return of 4% co annually. You may sell the condo unit and cash out or keep the unit for a longer period of time. I also suggest to discuss your situation and acquire advice from your tax consultant and accountant.
For brand new condo investors who have a limited understanding of the pre-construction condo marking, it’s a good idea to work with a real estate professional who specializes in the pre-construction condo sales. It’s also very important to buy the right condo project at the right time and at the right price which would help you to attain your investment goals. If you need help and want to discuss more this process in detail then please feel free to contact me.