Pre-Construction Condos For Sale in Little Italy
About Little Italy's Pre-Construction Condos For Sale
A great neighbourhood in Ottawa, you will find 4 Pre-Construction condo buildings within Little Italy with condos for sale. The average sale price for Pre-Construction condo units in Little Italy in 2020 was $456,000 with an average of 479 days on the market. There were 1 Pre-Construction condo units sold in Little Italy last year. Claridge Icon had the highest Dork Rating, 253, for a Pre-Construction condo building in Little Italy in 2020.
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.
The most active Pre-Construction condo building in Little Italy in 2020 was Claridge Icon with 1 units sold. Claridge Icon had the highest average price per sqft in 2020 for Pre-Construction condo buildings in Little Italy with an average price per sqft of $647.
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.
Centretown West and Lebreton are nearby neighbourhoods with Pre-Construction condo buildings. Little Italy is Very Walkable with a walk score of 78. This neighbourhood is a Biker's Paradise with a bike score of 100. Good Transit is available in Little Italy.
Little Italy Condos For Sale
This is Little Italy, a neighbourhood in the city of Ottawa with 8 condo buildings.There is a perfect fusion of modern high-rise condos and hip lofts, there are 4 High-Rise, 4 Pre-Construction, 2 Low-Rise, 1 Loft, 2 Mid-Rise and 1 Luxury in Little Italy. There are limitless selections of condos for sale in Little Italy to call home. Condos for sale in Little Italy spend an average of 180 days on market. Little Italy had 6 condos sold within it in 2020, an decrease of -14% compared to the year before. Last year condos for sale in Little Italy had an average sale price of $$497,684, an increase of 13% from the year before. Little Italy is Very Walkable with a walk score of 78. This neighbourhood is a Biker's Paradise with a bike score of 100. Good Transit is available in Little Italy. Centretown West and Lebreton are nearby neighbourhoods.
Farinella, Carmelito, and Little Italy Bakery are great bakeries in Little Italy. Coffee shop lovers will appreciate local cafe's like Cafe Cosenza, Farinella, and DreamLand Cafe. Locals recommend eating at Atelier in Little Italy - they have great food! There is a surprising amount of green space with Plouffe Park in Little Italy. Guardian - Preston Medical Pharmacy is a conveniently located pharmacy in Little Italy. Custom Buttons Ottawa is a shopping center in Little Italy that has something for everyone. There are always new exhibits and events happening at School of the Photographic Arts: Ottawa (SPAO) and SANTINI GALLERY. If you're a health and fitness fanatic, hopefully you are living in a condo building with a great gym. If not Wefit.ca is a super popular fitness center with locals. Animal enthusiasts, good news Little Blue Bird Toys is in Little Italy. Local schools of Little Italy include Shine Music Academy, Arthur Murray Dance Ottawa and Jenn Stow. Little Italy has a very accesible train station Carling Station.
What to Expect
Little Italy is centrally located in west Centretown between Dow's Lake and the War Museum. It is served by the Trillium LRT line. Preston Street is known as Corso Italia, the heart of Ottawa’s Little Italy. The area is famous for its Italian heritage, events, specialty shops and restaurants.
Demographics
Little Italy is comprised of younger, upper-middle-income singles and families. These urban individuals enjoy the downtown lifestyle, while still maintaining a community feel. There are a mixture of renters and home owners in the neighbourhood. There are many Italian descendent families living in Little Italy who own and operate the Italian specialty shops and restaurants in the neighbourhood.
Lifestyle
The Preston Street area is becoming a self-sufficient urban habitat where everything can be found within walking distance. This area offers endless options of restaurants in the area. The majority of the businesses are family operated. Residents of Little Italy are right on the edge of Dow’s Lake, allowing for access to the world-famous Rideau Canal for year-round outdoor activities.
What you'll love
The new Trillium Bike path lets you take advantage of hundreds of bike trails as you explore Little Italy. It is home to some of Ottawa's biggest festivals, Italian Week in the summer and GrapeFest in the fall. Little Italy is also just a short walk from Ottawa’s most popular festival, Bluesfest, which takes place on neighbouring area Lebreton Flatts every July.
