RioCan Living

Buyers typically register interest first, which can give early access to pricing and suite availability. After choosing a unit and signing the agreement, deposits are paid in installments on a set schedule through construction.

Condos usually involve interim occupancy, where you move in before the building is registered and pay occupancy fees, followed by final closing when title transfers. In Ontario, new condo purchases include a 10-day cooling-off (rescission) period under the Condominium Act. This does not apply to freehold houses. Have a lawyer review the agreement within that window.

Pre-construction condos let a buyer secure a unit with a deposit paid in stages, then close later once the building is complete. That gap means capital is committed well before the unit can be occupied or rented, so timing and carrying costs matter.

When evaluating RioCan Living projects, consider the neighbourhood's rental demand, how many comparable condo units are being delivered nearby, and the unit types on offer. Review the deposit schedule, estimated occupancy date and projected monthly fees. No outcome, appreciation or return is guaranteed, so base decisions on your own numbers and professional advice.

First-time buyers should plan for the staged deposit structure of pre-construction, which usually asks for more cash up front over time than a resale purchase. Confirm the exact amounts in the agreement of purchase and sale for each project.

Ontario and federal governments have offered first-time buyer programs and rebates, such as the federal GST/HST relief for new homes and the Ontario land transfer tax refund for first-time buyers. Eligibility rules change, so check current terms. Registering early can give access to floor plans and pricing before wider release, when more suites are typically available to choose from.