New homes & pre-construction in Coconut Grove

Most buyers begin by registering interest with a project, which can give first access to floor plans and pricing. After selecting a unit, you sign a purchase agreement and pay deposits on a schedule, often split across signing and later milestones of construction.

For new condos, Florida provides a 15-day rescission period under FS 718.503, which lets a buyer cancel within that window under the statute's terms. This applies to condos only. Near completion, some projects have an interim occupancy stage before final closing, when the remaining balance is due and title transfers.

Pre-construction purchases typically let a buyer secure a unit with staged deposits rather than the full price up front, so capital is committed over the build period. That structure creates leverage, but it also means you carry the obligation to close at completion, whatever the market looks like then.

Before buying, consider local supply and how many comparable units are being delivered, how quickly similar projects sell, rental demand for the unit type, and the total carrying costs such as HOA fees and taxes. Review the builder's track record and the contract terms. Nothing here predicts price movement or returns; treat it as a checklist and consider professional advice.

Florida buyers generally need a deposit that is paid in stages on pre-construction contracts, and the exact amounts and timing are set by each builder, so check the schedule before committing. Down payment and lender requirements for the final mortgage are separate, and they apply at closing.

Assistance programs exist at the state and local level, such as Florida Housing Finance Corporation offerings, but eligibility, income limits and funding vary, so confirm current terms with a lender. Registering early can matter because builders often release the best unit choices and initial pricing to registered buyers first.