Upgrades and prices? best way to avoid getting raped.

[caddyfleet]

I went to go check out some condos, and the sales reps never know the excat prices of upgrades, they always tell me "that comes at time of color selection" or some b.s. like this.

Do they have a list of all the upgrades and exact prices they are not showing me? how can somebody just sign a contract and have NO idea what all the upgrades will cost, I always read about people freaking out when they find out how much the builder is raping them on upgrades after they purchased the condo.

What is the best way to avoid this?

 

[Urban Newbie]

Honestly, the only way to avoid over spending is to not buy any upgrades.

And the sales people are not fibbing when they say they don't know. They don't. All of the upgrades will depend on which options the builder goes with for you building, how big your unit is, its layout etc. etc. They're not out to get you by not telling you at the time of sale but, yes, you can pretty well guarantee that things will be pricey.

Another way to get a sense of upgrade costs would be to talk with people who have gone through the process in other projects built by the developer.

 

[caddyfleet]

I understand but some upgrades you need, like NO carpets, this is a must for me. They would not even want to ballpark it. does not make sense. I think they know the exact prices and just prefer not to say them because it gives the buyer a bad taste in their mouth BEFORE they sign the papers to purchase the condo.. They should at least give you a sheet with estimated prices, 1 bedroom prices = $$$ 2 bedroom =$$$ at least you can get an idea of what you are looking to spend the total dollar amount.


Once they bring you in for color selection its too late..

 

[Solaris]

when buying a preconstruction condo, sales people don't know how much upgrades will cost because the builder has not priced it out yet (which would be different depending on material cost at the time, profit margins expectations for each project, and the area/size that the upgrade applies to)

Therefore it is typical to not have this information upfront when you first buy the condo, all builders only provide this information at colour selection time ... if purchasers find the upgrades pricing overwhelming, the only solution is to stick with the standard finishes ... perhaps the only thing that a purchaser can do is looking at the standard finishes and making sure they are OK with it before signing an agreement

As others have suggested, to get an "idea" on how much upgrades will cost, consult people who have gone through the process ... or read UT's Condo Upgrades thread which has a good variety of this information posted

 

[caddyfleet]

Thanks boss, I will check it out now.


I am learning so go easy on me lol.

 

[Solaris]

Thanks boss, I will check it out now.

I am learning so go easy on me lol.

boss ?? LOL ... just making sure there's no harsh feelings

 

[caddyfleet]

oh no I appreciate all the help from everybody here.

There is lots of info. to learn in this business.

 

[cdr108]

Thanks boss, I will check it out now.
I am learning so go easy on me lol.

ditto what most have said already.

you may not have to wait exactly for your colour selection appt; however, they may not know the pricing until about a month or so before the first appt.

so ask them then, and it gives you time to price things out and an idea if you want to spend the $$$ with them or upgrade yourself after registration.

 

[avatarreb]

The other thing to note is that if this is important to you, you can go with a builder that's already done their homework. There are many out there.

Many builders offer upgrade packages, or have already upgraded their standard finishes so its just about picking colours not upgrades. If you already know you want a high end suite, it may be more cost effective to buy into a building that's already marketing at the high end. At the very least, it will remove any surprises.

 

[movieguy]

If you already know you want a high end suite, it may be more cost effective to buy into a building that's already marketing at the high end. At the very least, it will remove any surprises.

I agree with Avatarreb.
From all the condo sales centres I've visited, this is usually the case. A low-priced condo with the most common upgrades (floors, countertops, appliances) can cost much more than a condo with high-end features as standard. The higher-end condo also has better appreciation in the market.

Off the top of my head, The Hudson at King and Spadina comes to mind. When it launched, prices were a bit higher, like $350/square feet (don't quote me yet. I'll have to dig up my files to see) while the average was $300-$320 down at Cityplace, but look at how much units cost in the Hudson now.

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[MadMax]

I understand but some upgrades you need, like NO carpets, this is a must for me. They would not even want to ballpark it. does not make sense. I think they know the exact prices and just prefer not to say them because it gives the buyer a bad taste in their mouth BEFORE they sign the papers to purchase the condo.. They should at least give you a sheet with estimated prices, 1 bedroom prices = $$$ 2 bedroom =$$$ at least you can get an idea of what you are looking to spend the total dollar amount.


Once they bring you in for color selection its too late..

If the hardwood/laminate flooring is really important to you, you could also ask for an ammendment in your purchase agreement that states that "the builder will provide hardwood/laminate flooring throughout the entire condo unit". I did this with my first condo, where they had carpets in the bedrooms and laminate in the living/dining room area. Not all builders will agree, but maybe some will and it never hurts to ask anyways.