Dream

Most buyers start by registering for a project, which typically gives early access to floor plans and pricing. After choosing a unit, you sign an agreement of purchase and sale and pay deposits on the schedule it sets. Many projects have interim occupancy, when you move in before the building is registered, followed by final closing when title transfers.

In Ontario, buyers of new or pre-construction condos have a 10-day cooling-off (rescission) period under the Condominium Act. This does not apply to freehold houses, so it is relevant to Dream's condo projects but not necessarily to every home type. Have a lawyer review the agreement within that window.

Pre-construction purchases let a buyer secure a unit with staged deposits, then close months or years later, so capital is committed over time rather than all at once. Nothing about this structure guarantees returns or appreciation, and values at completion may be higher or lower than the purchase price.

With Dream's mix of condos and townhomes in Mississauga and Toronto, compare each project on its own terms. Look at nearby rental demand, how many similar units are being delivered in the area, unit size and layout, expected occupancy dates, and carrying costs such as maintenance fees and taxes. Also confirm you can meet the closing costs and mortgage qualification when the building is finished.

Deposits on pre-construction homes are usually paid in installments, often a portion at signing and further amounts over the following months or years. The exact schedule is set in each project's agreement, so check it against your savings plan. You will also need funds for closing costs at the end.

First-time buyer programs, such as federal and Ontario rebates or tax relief, may apply to new homes, but eligibility rules and limits change, so confirm current details with a lawyer or advisor. Registering early can matter because many projects release suites in phases, and registrants often see pricing and floor plans before general release.