Buying Presale Condo in Vancouver Analysis #2 – Disadvantages
买楼花的缺点
Our previous post has mentioned the advantages of buying a pre-sale condo; this post, we are going to look at the risks we might face.
Contract: all developers have their own lawyer team to draft a very one-sided contract to protect themselves. Eg: expected completion date which is the uncertain delivery date. Buyers have to carry their own risk if the market goes down.
Real Estate Market: No one can predict the market trend – ups and downs. Nobody can guarantee you there is an investment return in 3-5 years from now. After you purchase a pre-sale condo, its value might increase 10%-20% in advance, then drops.
Mortgage Loan: It is much easier to get a loan from the bank in 2017 – no stress test. For home buyers, you might get a pre-approval from your lender today. After several years from now, what if you got laid off, what if the rates go up, what if the property value goes down – you may not be qualified under bank’s lending guidelines anymore.
Interest Rate: If the rate stays forever, everybody will be happy. What if the rates increase? If the rate increases 1-2% after 2-3 years from now; your monthly mortgage payment will increase $300-800-1200 depends on the value of your property. If you are the home buyer, make sure you can handle the rate increase before you purchase a pre-sale condo.
Be Patience: When you look at the contract provide from the developer, the completion date is an estimated time – subject to change by the developer. This means the developers can extend the closing date to 6 months/10 months or even 1yr+. If the homebuyers expect to move in 2019; but the developer announces that the closing date delays. Buyers will require renting a place for several months.
What you see might not be what you get: What you see in the showroom, video, the brochure might not be what you get 3 years later. Eg: The size of the condo might be 5% smaller than what you have seen in the marketing material. You found out that quality of finishing product is lower than what you have seen in the showroom……
Don’t always trust discount, discount, and discount – there is no free lunch. You got a certain amount of money off from the developer also means your service/quality has been discounted.
Talk to your realtor while you plan to buy a pre-sale condo.
我们之前的帖子提到了购买预售公寓/楼花的好处 ; 这篇文章，我们来看看买楼的缺点和买家可能面临的风险。
合同：所有开发商都有自己的律师团队来起草非常片面性的合同来保护自己。例如：预计交付日期会存在不确定性。如果楼市下跌，买家就要自己承担跌价的风险。
难以估计得房地产市场：没有人能预测楼市走势的起伏。没有人可以保证你在3 – 5年后得到丰富的投资回报。在购买预售公寓/楼花后，你的楼花可能在头一年涨10％-20％，然后不停下跌。
贷款：在2017年，你可能很容易就得到银行的贷款 – 因为没有什么压力测试。对某部分买家而言，你今天可以获得贷款，不代表以后同样可以。 买楼花2-3年后，如果你被下岗了，如果利率上涨了，怎么办？或者如果房产价值跌价了，怎么办？这意味着你极有可能不再符合银行的贷款准则了。
利率：如果利率保持不变，维持低利息， 人人都会高歌颂德。可是如果费率上浮了呢，会怎样？2-3年之后，利率上涨1-2％； 你每月的按揭付款将最少增加$ 300-800-1200不等，取决于你的房产的价值。如果你是买房自住，在你买预售公寓/楼花之前， 请你把这个因素也考虑在内。
耐性挑战：当你查看开发商提供的合同时，不难发现，交楼日期是预估的日期 – 开发商可以更改日期视乎建筑进度。这意味着开发商有可能把交楼日期延后至6个月/ 10个月甚至1年以上。如果买家预计在2019年搬入; 但开发商延迟了交楼时间。买家需要准备一笔资金去短租几个月。
眼见为实？：你在展厅里所看到的，视频，宣传小册子或楼房展示；有可能不是你3年后得到的哦。例如：公寓真正的面积可能比你在营销材料中所看到的面积小了5％。收房时，你又会发现装修的质量比你几年前在展厅里看到的不是同一个档次……
不要总是相信盲目的相信折扣，折扣和折扣 – 天下没有免费的午餐。你从开发商不停的给你打折，那提供给你的服务/质量也会被打折。
在你计划购买预售公寓/楼花前， 记住和你的房地产经纪谈谈。如果有任何问题， 请填写以下表格与我们联系。
