Priority Pricing Ends Soon
Since we started building Triple Crown Residence II, we’ve provided a priority pricing incentive for the first few purchasing a condominium. Buyers can either save $10,000 on the list price of a new condo or receive a second parking stall (valued at $20,000) for free.
We’ve listed this as a limited time offer that could be retracted at any time, and today we’re letting you know it’s coming to an end.
After the next four people make their purchase, or on November 30th, whichever comes first, the priority pricing ends.
Why an incentive?
The reason we set out the incentive was to help get the ball rolling. Prebuild sales can be slow in the beginning, especially when there is a long time until completion date. We set it up to help us meet our own quotas, and thanks to our excellent first customers, we’ve done that.
Why offer a second parking spot?
We were a bit surprised to see most of our customers opting for the second parking spot, but their reasons are sound: Langford has quickly grown from a sleepy community into a bustling city, and development isn’t slowing down. Just down the road, plans are in the works to build one or possibly two schools, more commercial enterprises are setting up in the area and more amenities are arriving. The new businesses in our Triple Crown community are attracting customers who require parking spaces around the buildings, which means outside parking will become increasingly rare, or at the very least it will mean a longer walk.
People are beginning to look for rentable parking spaces. In Langford, parking spots rent out for anything from $25 to $150, depending on where it is.
You already know you can rent out your condominium. Did you know you can also rent out your parking spaces? You can. Owners can rent their parking spaces (one or both), to other tenants or owners, which could be a decent way to earn a bit of passive income.
The value is there. If you were to purchase a second parking spot for $20,000 (instead of having it given to you as an incentive), then add the purchase amount to a 5-year fixed rate of 3.16% (RBC’s posted rate at the time of this article writing), it would cost you a monthly amount of $96.52. Principle plus interest combined means it would end up costing an additional $28,956 over a 25-year term. It’s a great incentive.
November 30th is the final day for either the $10,000 off the purchase price of your condo, or for your free second parking spot valued at $20,000. If you’re thinking of buying here, don’t miss the incentive. Give Todd or Justine a call today at 250-474-4800
“A goal or decision without a deadline has no urgency. It has no real beginning or end.” Brian Tracy