FAQ
A pre-construction home is purchased before the building or property is complete, often using floor plans, renderings, and project specifications. Buyers may purchase before construction starts or while it is underway.
Many Toronto pre-construction condos use staged deposits that total roughly 15%-20% of the purchase price. The amount, payment dates, and structure vary by developer and project.
An assignment sale transfers a buyer’s rights under a pre-construction purchase agreement before the property has completed its final closing. A resale involves purchasing an already completed property from its current owner. Assignment rules vary by project and agreement.
Many projects take approximately two to five years from purchase to occupancy or closing. Timelines vary based on approvals, construction progress, project size, and other development factors.
It can be, depending on the project, location, purchase price, and your goals. Areas such as the Downtown Core, Waterfront, and Yonge-Eglinton continue to attract new development, but appreciation and investment returns are never guaranteed.
Look at the developer’s track record, previous projects, construction quality, and experience delivering similar developments. It is also useful to review how completed projects have performed after occupancy.
No, but Big City Realty can help you compare projects, floor plans, deposits, and purchase terms while providing access to available allocations and VIP launches. Buyer representation is typically provided at no additional cost to you.