Deposits on new construction are staged, not lump-sum — that's what makes pre-con accessible with less cash up front. Pick a price and a common structure to see the real dollar schedule.
| Stage | % | Amount |
|---|---|---|
| With the offer / in 30 days | 5% | $37,500 |
| In 90 days | 5% | $37,500 |
| In 180 days | 5% | $37,500 |
| In 370 days | 5% | $37,500 |
| Total deposit | 20% | $150,000 |
Every builder sets its own schedule — dates and amounts here reflect common GTA structures, not any specific project's terms.
Most GTA builders ask for 15–20% of the purchase price, staged over one to two years — typically 5% with the offer (often a fixed amount like $10,000 first, with the balance in 30 days), then further 5% installments at set dates. Some projects run 10% or 5%-plus-occupancy incentive structures.
No — that's the defining feature of pre-construction. Deposits are staged: a typical 20% structure spreads four 5% payments across roughly a year, and the balance of the price isn't due until final closing, years later.
For new condos, deposits are held in trust and covered by Tarion's deposit protection ($20,000 plus excess coverage through the trust rules). Freehold homes have different, lower coverage. Ask where your deposit is held and confirm coverage before signing.
If you fail to close without a legal way out, the deposit is at risk — that's true of any agreement of purchase and sale. Ontario's 10-day cooling-off period for new condos lets you cancel within 10 days of signing for any reason with a full deposit refund.
For Ontario new condos, builders must pay prescribed interest on deposits, credited at closing. The rate is tied to the Bank of Canada rate and changes over time.
Browse projects with staged deposits in Toronto, Mississauga, and Brampton. Also see the land-transfer-tax calculator and HST rebate estimator.
Structures shown are common patterns, not any specific project's terms — every builder sets its own schedule. Review yours with a lawyer during the cooling-off period.