You can actually see what the unit looks like & what the actual unit views are before you purchase.
You can see what the building culture, structure & amenities are all about before you purchase.
If the unit includes parking and/or locker, they are already on title, so you know where they will be.
You have a definite closing date, there a no building delays.
Usually neighbourhood amenities already exist.
You already have building management in place & get an idea whether they are doing a good job (maintaining the building, staff etc.)
There are no developer fees, or development levy costs in addition to your purchase price.
You can examine a status certificate, confirm a number of different things: what the current maintenance fees are, if there are any large upcoming costs, any lawsuits, the number of tenants vs. owners etc.
REASONS FOR BUYING NEW:
You get a selection of floor plans, exposure & floor -not what just happens to be available on the market at the time you are looking at resale.
There are often various builder promotions: e.g. Lower prices, free upgrades, free maintenance, cash back etc.
You can stagger your deposits.
You can plan ahead.
You can prioritize saving & spending to accumulate a larger down payment.
You get to customize your unit & pick your finishes.
You can plan & buy your furniture ahead of time, since you already have a floor plan to work with.
You can participate in the running of the board of directors, by being elected or voting for the individual members.
