There are so many factors that come in to play when we consider investing in pre construction condos:
Firstly, what will the unit be used for when it is built? Will you live in it? Will you rent it? Will you flip it? Determining the purpose is the first step.
If you are buying it to live in it, then consider what your needs will be by the time it’s built. You may want two bedrooms, a nice view, and a location close to where you work.
If you are buying it to lease it out, you may want to consider a smaller unit, close to transportation with amenities that tenants look for.
If you are flipping it, you have more options as larger units and upgraded finishes may be the way to go. A word of caution when considering flipping though: there are tax advantages to holding the unit (renting or living in it) for at least a year before reselling it. This is where a knowledgeable accountant can help before you buy.