Amico

Buyers typically register interest first, then receive access to pricing and floor plans when a release opens. After signing an agreement of purchase and sale, deposits are paid in installments. Near completion, buyers usually go through interim occupancy, where they move in and pay occupancy fees before the final closing and title transfer.

In Ontario, new and pre-construction condos carry a 10-day cooling-off (rescission) period under the Condominium Act, during which a buyer can cancel. It does not apply to freehold houses. Have a real estate lawyer review the agreement within that window.

Buying pre-construction usually means paying a deposit in stages over the build period instead of the full price up front, which lets a buyer secure a unit well before completion. Because Amico's listings here are condos, buyers should read each project's deposit schedule and occupancy terms carefully.

Factors to evaluate include local supply of similar condos, how quickly units are selling, rental demand in the specific city, and the unit type and size. Markets like Windsor, Oakville and Guelph differ considerably. Consider carrying costs, such as occupancy fees and closing costs, and remember that values and rents can go down as well as up. No return is guaranteed.

First-time buyers should plan for a staged deposit, commonly due over months after signing, plus closing costs on completion. Exact amounts vary by project, so check each agreement. Ontario and federal first-time buyer programs and rebates may apply, and eligibility rules change, so confirm current details with a lawyer or mortgage professional.

Registering early can give access to initial pricing, floor plan selection and release information before units are widely marketed. Registration is generally not a commitment to buy.