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The Stages of a New Building

In Canada by TheRedPinLeave a Comment

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Nowadays new condo buildings are popping up everywhere. When thinking about purchasing, it is valuable to understand the different selling stages that exist. There are three distinct ones and we’ve explained them below:

  • Pending (5-7 years before move-in date)

In this first initial phase, the builder has purchased the land and has hopes of building on it, but is still waiting on approvals from the city. This phase can last quite a while, as long as a few years, and during this phase, the building’s design and height may change several times. Usually at this point the building doesn’t have a name yet and is often referred to as just the address.

Regardless of this early stage, make sure you ‘RedPin’ the buildings you are interested in, manage those ‘RedPinned’ buildings in your profile and you will receive updates as we get them.

  • Registering (3-5 years before move-in date)

In this next phase, the building has the approvals it needs to move forward. At this point the name of the building has usually been finalized and the builder has begun marketing the project, with an official website and advertising. This is the ramp-up for the building to begin selling.

If you are serious about a project make sure to register with TheRedPin.com, and get notified the second any information becomes available and the project begins selling, and receive access to the best pricing and floor plans.

  • Selling (6 months-3 years before move-in date)

Selling means just that, the builder has now begun selling units. Floor plans, pricing, a brochure and other marketing materials are now available to the public. This phase lasts until the building is sold out and no more units can be purchased.

Don’t miss out on new floor plans, or changes in pricing and availability. Once registered for a building on TheRedPin.com, we will email you new pricing and floor plan information as we receive it on an ongoing basis.

You can continue to browse for new buildings here.

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