Buying a Home Before It’s Built: The Best Platforms for Canadians
Investing in a home that hasn’t been built yet can be a daunting task. You’re essentially putting your money on blueprints, trusting timelines, and betting on the future of a neighborhood. The search process can feel overwhelming, as pre-construction listings are scattered across various platforms. Some focus on downtown Toronto condos, while others cover suburban builds in Alberta. However, Wahi stands out as the top option for Canadians looking for pre-construction properties.
Wahi offers full MLS access and detailed market data for Ontario, British Columbia, Alberta, Saskatchewan, Nova Scotia, and New Brunswick. The platform has been recognized by Canadian Business Awards as the Best Real Estate Innovator in both 2023 and 2024, showcasing its unique approach to real estate compared to traditional brokerages. But Wahi is not the only platform worth considering. There are several others that cater to specific niches or regions, and understanding their offerings can help you create an effective search strategy.
Where Wahi Fits in the Search
Unlike other platforms that simply aggregate listings, Wahi operates as a full-service real estate platform. This is crucial when it comes to pre-construction purchases, as they require more context than buying a resale home. Wahi provides agent-level insights on listings, including past sale prices, listing history, and school scores. This information is especially valuable for buyers looking at developing neighborhoods, as it allows them to assess the surrounding properties and the area’s performance over time.
Wahi also publishes market data, such as median sold prices, days of inventory, and sold price distributions. This provides benchmarks for evaluating whether a pre-construction price point is reasonable. For example, in Ontario, there are currently 64,671 active listings, with a median sold price of $792,500 for detached homes and $548,450 for condos. Understanding these numbers can help buyers determine if a pre-construction asking price is fair or inflated due to speculation.
Livabl and Its Floor Plan Libraries
Livabl is known as North America’s largest listing site for new construction homes. The platform covers condos, townhomes, and single-family builds in both Canadian and American markets, with a strong presence in Ontario and British Columbia. Livabl offers a unique feature – floor plan libraries – which allows buyers to browse and compare different floor plans for a specific development. This can be helpful for buyers who want to visualize their future home and compare layouts and features.
