Dezen Realty Company

Buying pre-construction usually starts with registering your interest, followed by a first-access release where registrants can choose a unit. You then sign an agreement of purchase and sale and pay deposits in stages according to the schedule. For condos and many townhomes, there is often an interim occupancy period before final closing, when the title is registered and the mortgage funds.

In Ontario, new and pre-construction condos carry a 10-day cooling-off (rescission) period under the Condominium Act. This does not apply to freehold houses. Have a real estate lawyer review the agreement within that window, and check whether a given townhome is condo or freehold tenure.

Pre-construction purchases typically use a staged deposit structure, with payments spread over months or years before closing. This lets a buyer secure a unit at an agreed price while the building is still being built. It also means capital is committed well before the home can be occupied or rented.

If you are considering one of these projects as an investment, look at the local factors: how much new supply is coming in that area, rental demand nearby, and whether a condo or townhome suits the likely tenant. Review the deposit schedule, projected closing timeline, estimated carrying costs and rental potential. Outcomes aren't guaranteed, and values can move either way between purchase and closing.

First-time buyers should plan for the staged deposit, which is usually larger than a standard resale down payment because it is paid in installments. Ontario and federal first-time buyer programs may apply to new homes, but eligibility and limits change, so confirm current rules with a lawyer, mortgage professional or the government program pages.

Registering early on a project can give access to initial pricing, floor plan selection and release information before wider marketing begins. Registration does not commit you to buy, so it is a low-risk way to see details as they become available.