Pre-Construction Condos For Sale in Centretown
About Centretown's Pre-Construction Condos For Sale
Welcome to Centretown, a neighbourhood in the city of Ottawa with 4 Pre-Construction buildings with condos for sale. Last year, 1 Pre-Construction condo units sold in Centretown. Pre-Construction condo buildings in Centretown had an average sale price of $2,535 in 2020 and spent an average of 5 days on market.
A very special portion of the real estate market exists in the area of development, or Pre-Construction, condos. These are units that are purchased based on the projected plans for a building that is not yet built. A buyer may visit a temporary showroom, located near to the proposed location of the building to see models and floor plans of the various units the seller hopes to construct, or simply receive a package with this information electronically. Purchasing at this stage allows the buyer to have greater control in the outcome of their unit. They can make a different type of investment and purchase at a lower price per square foot than what is typically available post-construction. If you want to be able to choose your floors, finishes and appliances, at less than the cost to purchase someone else's choices from the past, Pre-Construction condos for sale might appeal to you. It's not often that you have so many design choices when looking to purchase a home. There will be a number of layouts, options for total square footage, number of bedrooms and location within the building to choose from. Usually, this type of customization will require a second investment in renovations, as well as the purchase price of your home.
Centretown's most active Pre-Construction condo building last year was The Pullman Coach Flats with 1 units sold. The Pre-Construction condo building in Centretown with the highest average price per sqft last year was The Pullman Coach Flats at $3 per sqft.
When taking the leap on a Pre-Construction condo for sale, you'll be given a list of options that you'll be able to customize. Everything in the home will be brand new and they will likely be under warranty. Keep in mind that the developer is speculating on what they believe the final outcomes will be for the unit and building, they require some flexibility, not everything can be fixed into even the best agreements. This can make a good case for looking at the past projects of the developer. How close to their projected dates did they come? Do they have a history of big surprise closing costs or a history of great relationships with their buyers? How have their projects held up over time as places people want to live and as investments. This type of home purchase, more than others, requires a long term deal with your developer. You'll want a long term relationship that is mutually beneficial. Purchasing a unit in a building prior to the work beginning can have some tremendous benefits. It also requires deeper knowledge to arrange this type of purchase. A Real Estate Professional who specializes in development or Pre-Construction condos for sale may be helpful for protecting your investment. The money spent on a qualified agent may be easily recuperated with the thorough shaping of your agreement. You'll want to understand how the Pre-Construction payments are going to be structured and where you'll be spending versus saving. In an already finished home, it's easy to see how your money is being spent. With a Pre-Construction condo, being well informed will be a must.
You can find the neighbourhoods of Downtown Ottawa and Byward Market nearby which have Pre-Construction condo buildings. This neighbourhood is a Biker's Paradise with a bike score of 99. Excellent Transit is available in Centretown. Centretown is a Walker's Paradise with a walk score of 93.
Centretown Condos For Sale
The great condo neighbourhood of Centretown in Ottawa has many awesome buildings to choose from with a total of 44 condo buildings. There is a perfect fusion of modern high-rise condos and hip lofts, there are 11 Low-Rise, 3 Loft, 21 High-Rise, 11 Mid-Rise, 3 Luxury and 4 Pre-Construction in Centretown. Many condos for sale in Centretown feature excellent amenities perfectly located in Ottawa. Condos for sale in Centretown spend an average of 52 days on market. There were 248 condos sold in Centretown in 2020. Centretown saw an increase in the number of condos sold by 4% compared to the year before. Condos for sale in Centretown had an average sale price of $$448,842 last year, an increase of 12% from the prior year. This neighbourhood is a Walker's Paradise with a walk score of 93. Excellent Transit is available in Centretown. This neighbourhood is a Biker's Paradise with a bike score of 99. The neighbourhoods Golden Triangle and Downtown Ottawa are nearby.
True Loaf Bread Company, Brownloaf Bakery, and Three Tarts are great bakeries in Centretown. There are some great cafes in Centretown such as Arlington Five, Tamis Cafe & Restaurant, and Pure Kitchen Elgin. Groceries are close-at-hand with supermarket Thana Markets in Centretown. Locals recommend eating at Town and Colonnade Pizza in Centretown - they have great food! There is a surprising amount of green space with McNabb Park in Centretown. Centretown White Cross Better Living and SWIFT COMPOUNDING PHARMACY are a short walk away as well. Centretown has many local events taking place with Wallack Galleries, Ottawa Museum Network and Artists' Centre D'Artistes Ottawa Inc. (Gallery 101) catering to the arts scene. If you're a health and fitness fanatic, hopefully you are living in a condo building with a great gym. If not Integrate - Healthcare Collective is a super popular fitness center with locals. Animal enthusiasts, good news Healthy Pets HQ is in Centretown. Elgin Street Public School is a nearby schools for children living in Centretown. There are many students in this neighbourhood as Laurentian Leadership Centre of Trinity Western University is located within it.
What to Expect
Centretown spans a fairly large area in Somerset West of Ottawa. It is also considered one of the oldest neighbourhoods in the city, having housed French and Irish immigrants when they first arrived in Canada centuries ago. One of the biggest draws to Centretown is the presence of Lisgar Collegiate Institute. As one of the highest regarded public schools in the country, parents moving to this area should be understandably gleeful at the idea that their children may become students of an institution which is ranked nationwide in nearly every field. With the Glebe, Elgin street and Chinatown only a few blocks away, you will rarely feel the boredom and isolation that may come with living in a more suburban neighbourhood. It is also ideal for government workers, as several government offices are located in or around this area. Centretown is the main business and financial district in Ottawa housing many large office buildings.
Demographics
Centretown has an incredibly diverse demographic. The area has always been popular amongst newcomers due to the pockets of non-Canadian culture concentrated in the neighbourhoods. There are several families living here, some of whom have lived on the same street for decades. Many newcomers to Centretown are also young professionals, some of whom, as previously mentioned, have moved to the area due to its proximity to government offices. A fair amount of residents are also students. This is due to its proximity to the University of Ottawa as well as the bus routes which lead to Carleton University. However, the area’s popularity also means its crime rate is higher than the city average. Despite this, Centretown is known as a warm and welcoming place where its storied heritage has resulted in an admirable sense of community.
Lifestyle
Centretown is popular because it allows residents to feel at home regardless of whether they prefer a fast-paced or a slower lifestyle. Want to spend your evenings socializing? Elgin Street and Bank Street's pubs and restaurants will ensure you will have a variety of places to meet and connect with people. Are you more of a solitary explorer? The plethora of small streets and shops means you can take several long walks without encountering the noise from nearby parties and bars. Families are not left out either, as nearby museums such as the Museum of Nature and the Bytown Museum means all ages will have lots to do.
What you'll love
Elgin Street’s lively pub culture is a source of envy from many ‘Ottawaians’ who live too far from Centretown to experience it. There is also the famous Sparks Street. This small pedestrian street in the heart of downtown Ottawa has been known to host several food and music festivals. Even on quiet days, you are bound to find a number of interesting shops and outdoor stalls at the pedestrian mall which sets up year round. And of course, you can’t forget Centretown’s rich history which is told through an array of plaques and sculptures found all around the area. All of this, buttressed by the presence of residents representing many cultures and multiple bus routes to transport you around the community makes Centre town a place that will grow on you rather quickly.
