Looking to buy Pre construction. Is it a good idea for me?

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I’m 24 and have a stable job making 75k with 10% bonus a year. Looking to get into the real estate market and was speaking to my realtor friend who showed me a nice deal for pre construction. 750k did 1B D in Toronto. Closing is early 2026. I can put a down payment of 200k by 2026. Is it possible to get a mortgage for 550k? My down payment would be over 20%. I am also allowed early occupancy to rent and don’t have to pay condo fees for a year as part of their deal. No developer costs and I get first time home buyer incentive. This would be strictly investment property. Area is really good and close to everything

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Posted: 2 years ago
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