Pre-Construction Condos For Sale in Old Ottawa East
About Old Ottawa East's Pre-Construction Condos For Sale
A great neighbourhood in Ottawa, you will find 5 Pre-Construction condo buildings within Old Ottawa East with condos for sale. Pre-Construction condos for sale in Old Ottawa East spend an average of -334 days on market with an average sale price of $426,515 in 2020. 13 Pre-Construction condo units were sold in Old Ottawa East last year.
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 Old Ottawa East in 2020 was 129 Main Street with 13 units sold.
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 Sandy Hill and Centretown nearby which have Pre-Construction condo buildings. Old Ottawa East is Car-Dependent with a walk score of 39. This neighbourhood is a Biker's Paradise with a bike score of 91. Excellent Transit is available in Old Ottawa East.
Old Ottawa East Condos For Sale
The great condo neighbourhood of Old Ottawa East in Ottawa has many awesome buildings to choose from with a total of 13 condo buildings. Old Ottawa East is a perfect fusion of modern and hip condos, there are 6 Low-Rise, 5 Pre-Construction, 5 Mid-Rise and 1 Loft. Condos for sale in Old Ottawa East offer something for everyone. Condos for sale in Old Ottawa East are on the market for an average of 118 days. Old Ottawa East had 8 condos sold within it in 2020, an increase of 100% compared to the year before. Last year condos for sale in Old Ottawa East had an average sale price of $$652,696, an decrease of -14% from the year before. This neighbourhood is a Biker's Paradise with a bike score of 91. Excellent Transit is available in Old Ottawa East. Old Ottawa East is Car-Dependent with a walk score of 39. Golden Triangle and Sandy Hill are nearby neighbourhoods.
If you are looking for coffee Cafe Qui Pense is in Old Ottawa East. Foodies won't be disappointed by the presence of excellent local restaurants Greens & Beans and Sula Wok. Do you love to be outside? There are great parks in Old Ottawa East such as Brantwood Park and Springhurst Park. Watson's Pharmacy is a conveniently located pharmacy in Old Ottawa East. If you're a health and fitness fanatic, hopefully you are living in a condo building with a great gym. If not LBR TRAINING is a super popular fitness center with locals. The school in Old Ottawa East is Immaculata. There are many students in this neighbourhood as Saint Paul University is located within it. Old Ottawa East has a very accesible train station Lees.
What to Expect
Old Ottawa East is as serene as its name suggests. It is a truly family-oriented area and is widely known as one of the oldest neighbourhoods in the entire city. It was originally inhabited by the religious order of the Oblate brothers and a related group of nuns. Together, they controlled large chunks of land and helped develop it, building churches and schools, including Saint Paul University and the University of Ottawa. The area has several active community groups, one of the best known being Sustainable Living Ottawa East or SLOE. SLOE has been instrumental in planning an urban renewal to further develop the Ottawa East area. Residents here speak of the incredible community spirit that exists among them. It has a small town feel, with community convenience stores and old fashioned road names like Main Street. Not far from Main Street is the Greystone Village Home development, a massive infrastructural project which aims to urbanize the area whilst keeping the community feel. Old Ottawa East is known as a walker’s and biker’s paradise. With few slopes and even fewer potholes, most errands can be done without having to catch the bus or use your car.
Demographics
This is an ideal location for families who do not want to be too far away from the heart of the city. Majority of its residents are over the ages of 30, making it an older neighbourhood than most downtown areas. Few students live in the area, with most of them attending the nearby Saint Paul University. In fact, Old Ottawa East appears to pride itself on being relatively student-free, with residents famously protesting the building of an apartment block in the area for fear that would attract students and upset the serenity of the area.
Lifestyle
Old Ottawa East is much slower paced than the rest of the city. One reason is, of course, the number of families which reside there. The other is the rich heritage of the place. Although it is close to the heart of the city, it does not have the urban sophistication of places like Lebreton and Chinatown. Instead, it can be compared to a quaint little town enveloped within Ottawa. It may not have the high rise buildings or even the proliferation of independent restaurants in other areas. However, Old Ottawa East is great in the sense that the neighbourhood is small, warm and welcoming. It feels like home, even if you do not live there.
What you'll love
Old Ottawa East is one of the few pockets of suburbia still existing in downtown Ottawa. There are far fewer apartment buildings in the area, saving it from the concrete jungle reputation which many neighbouring areas seem to have. It is not completely cut off from the fun though. Residents looking to socialize with a livelier crowd can head down to Elgin Street which is only a few blocks away. The great thing about this is the party is unlikely to follow you down the quiet Main Street. People living here are able to have the best of both worlds; energetic pubs a few blocks away and a calm dock near Brantwood Park. Residents can also explore the area’s rich heritage simply by touring many of the old buildings which still stand. An example is The White House, built in the 1800s and used to host one of the first Catholic schools in Ottawa or the Town Hall.
