Condos have increased in popularity over the years and it’s easy to see why. With striking modern designs and ample nearby amenities, they’ve become extremely attractive to a wide range of homeowners. If you’re buying one that’s either under construction or about to begin, the most common question from prospective homebuyers is: “How long will it take for my condo to be built?”
Here’s the typical stages of planning and construction that you can expect if you’re considering a low maintenance condo as your new home.
When it comes to building a condo community, the first thing developers do is take into account which areas of town can benefit from multi-family housing. They then do extensive research and engage the required consultants to head the project usually including an architectural firm.
After the building planning is complete the developer applies for all necessary permits. At this time, they will also finalize all interior design features and ready pre-sale agreements so they can be made available to early buyers in the development.
Once the required paperwork and planning have been completed and appropriate permits received, the developer will break ground – at this time, units will usually be available for pre-sale. For a prospective condo owner, this is a great time to buy as you may get a better price on your unit in exchange for waiting. This can be particularly beneficial if the condo building is in a popular area with higher property values.
Here is a general outline of the building process once construction begins:
Basement and Foundation
The development starts with excavation of the land followed by the pouring of the foundation for the basement and parkade (if applicable). On occasion, this process can be more time-consuming as concrete is a seasonal item requiring warm weather to cure.
This is where the building begins to take shape as the floors, walls, and other parts of the structure are put in place. Due to the amount of framing required in the average development, this process generally takes a third of the total build time.
Once the framing is finished, water, power, and other utilities will be installed. These are mapped out during the planning and pre-development stages prior to submitting for permits.
This is the “shell” of the building and includes exterior features such as windows, doors, balconies, and even landscaping.
If you purchase a pre-sale condo, you’ll have selected your finishes and features in the pre-development phase. This includes flooring, cabinetry, fixtures, and any other options you’ve chosen. Here too, units yet to be sold are finished according to the developer’s high standards.
While this information will be helpful in determining how long it will take for your new home to be ready, keep in mind each developer will have their own unique timelines. However, working with a reputable condo developer means you’ll have the keys to your brand-new condo in approximately one year once construction begins. A good developer will also be sure to keep you informed every step of the way.