So you purchased a pre-construction condo in 2010, and now the condo is “ready.”
Ready? You mean “finished?” Oh no, no. It’s not even close to being finished.
But your own individual unit is finished, and now the developer gives you “occupancy” of the unit, while construction continues on the rest of the building.
Allow me to demonstrate…
“A picture paints a thousand words.”
And sometimes I wonder if the point gets across without a visual representation.
I believe that the idea of an “occupancy phase” simply shifts the cost from the developer to the consumer, as the consumer ends up paying the developer to finish the project.
If the Condominium Act is to be revisited, reformed, or re-written, the occupancy phase has to be done away with.
If developers can’t afford to build condos as a result, then so be it.
Besides, I’m sure it won’t be long before they figure out another way to pass the cost along…
Well, I don’t want to end the week on a sour note. Especially with the weekend upon us!
So here is a really cute video of penguins falling…