XO Condos is one of the best pre-construction projects available on the market right now. We can say this with confidence as we have the numbers to back it up. Many of our clients have purchased in the first phase of the XO Condos development – some purchased very early on and some have purchased recently.
We wanted to show you that sometimes, it does make sense to purchase at the end of a pre-construction sales cycle – it can be as beneficial as purchasing first.
The developer is currently selling its final release of suites, as they near sold-out status and as they prepare for the launch of XO 2 Condos.
The advantages to buying now include incentives that would never be offered at the launch of a project. Here are the incentives that are currently being offered at XO Condos:
Development Charges and Levies capped at $15,000
$20,000 Cash Back for All Suites
Free Parking for All Suites ($80,000 value)
Free Locker for All Suites ($6,500 value)
Extended Deposit Structure – 5% deposit in the first year!
$5,000 on signing
Balance of 2.5% in 30 days
2.5% in 60 days
5% in 370 days
1% on Occupancy
We hand-picked the top 10 suites available at XO Condos and did a full deep dive into the numbers. Below you’ll find a full financial analysis of one example – this is what we typically provide to our clients to guide them on potential opportunities. Both end users and investors will find this helpful.
What are the numbers based on, you may ask? This case study uses a projected annualized return based on current market values (October 2020) + historical appreciation rates.
XO Condos Case Study: Notes & Key Takeaways
This purchase makes sense for both end-users and investors. For end-users, the deposit structure is so attractive that it’s hard not to consider this option.
$5,000 on signing
Balance of 2.5% in 30 days ($19,698)
2.5% in 60 days ($24,698)
5% in 370 days ($49,394)
1% on Occupancy – Q4, 2023 ($9,879)
Typically, when a new development launches, the deposit structure would likely be 20% – XO Condos is now offering 10% until occupancy, which is estimated to be at the end of 2023.
For an investor, the low deposit structure + the opportunity to potentially flip this on assignment makes it a very strategic move to profit off of a 10% investment.
The reason we backed out the value of the parking and locker is to get the true price per square foot of the actual suite. When XO 2 Condos launches in early 2021, parking and locker will not be included in a suite like this. You’re getting added value with these incentives that are currently unheard of in a new development launch.
The current price per square foot on other pre-construction condos in King West and Liberty Village are well over $1,000/square foot. It would be difficult to even find a comparable resale condo for this price in the neighbouring areas.
The biggest reason we believe this is a huge opportunity in the market right now, is because of the forced appreciation in value that will be realized very quickly.
If you’re interested in seeing any opportunities at XO Condos, simply fill out our form below. We’ll be in touch right away and can send you our full analysis right to your inbox.