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Financing for Builders New Condo Construction [Video]

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Constructing a new condo or apartment building is hard work. It takes a lot of time, money and effort. That said, new condos are a great investment, especially in Canada. The real estate market is doing well despite the pandemic, meaning there are always plenty of people looking to rent or buy a condo. There’s a lot to consider when constructing new condominiums, though, especially when it comes to financing.

Condominium construction expenses often include building materials, contractor fees, property taxes and much more. Finding financing to cover all these expenses can be difficult, especially for new investors. Some lenders just aren’t willing to take the risk of giving a loan to a new investor. However, there are ways to convince a lender that you’re prepared to take on the challenge. Read on to learn about possible financing options as well as the benefits of investing in new condominiums.

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