Quick Summary: What to Budget For

• Deposits: Typically 10–20%, but I have access to select projects with a $2,500/month deposit program and only 6% required before occupancy.
• Incentives: Builders are offering Decor Dollars, credits on closing, and included appliances for limited times.
• HST: Applied to new builds; rebates differ for end-users and investors.
• Interim Occupancy: “Rent-like” payments before you own the title (condos).
• Land Transfer Taxes: Provincial LTT + Toronto MLTT (if applicable).
• Legal Fees, Adjustments, & Warranty: Builder costs, Tarion, and utility set-up.

1) Deposit Structure (and Exclusive Monthly Options)

Most GTA builders request deposits in stages: $5,000–$10,000 on signing, balance to 5% in 30 days, another 5% in 90–180 days, and a final 5% at occupancy. International buyers usually need 20%–35% total.

Exclusive Offer: Through my builder relationships, I have access to select developments offering a monthly deposit structure of $2,500/month, requiring only 6% total before occupancy. This flexible structure makes entering the market much easier for first-time buyers and investors. Limited units are available, so timing is key.

2) Interim Occupancy (Condos Only)

Before the building is registered and you officially take title, condo buyers pay interim occupancy fees. These fees include interest on the unpaid balance, estimated taxes, and condo maintenance. They’re often mistaken for rent but don’t count toward your purchase price.

3) HST on New Construction & Rebates

All new builds in Ontario are subject to HST. Many builders include it in the advertised price, assuming you’ll live in the home as your primary residence. Investors, however, must apply for the New Residential Rental Property (NRRP) Rebate after closing. It’s important to confirm with your lawyer whether the HST rebate is being assigned to the builder or claimed by you.

4) Land Transfer Tax (LTT) & Toronto MLTT

Buyers in Ontario pay a provincial Land Transfer Tax at closing. Those purchasing within Toronto must pay both the Ontario LTT and the Toronto MLTT. First-time buyers can qualify for partial or full refunds, depending on price and eligibility. I’ll calculate both for you during your consultation.

5) Builder Adjustments & Incentives

• Tarion warranty enrolment fees
• Utility hook-up and meter installation
• Development/education levies (often capped)
• Administrative fees and upgrade HST

Limited-Time Builder Incentives: Many GTA builders are currently offering Decor Dollars, appliance packages, or closing credits. These offers can significantly offset your total costs—especially if you act during a promo period.

6) Legal Fees, Title Insurance & Disbursements

Expect to pay approximately $2,000–$3,000 in combined legal fees, title insurance, and closing disbursements. Condos require two closings (occupancy + final), so lawyers often charge slightly higher. I can connect you with pre-construction specialists offering flat-rate packages.

7) Appliances & Central A/C

While most condos include basic appliance sets, many freehold builders sell them as upgrades. Central A/C may also be excluded, adding roughly $4,000–$6,000 to install. I’ll verify inclusions and confirm if current builder promos include appliances in the purchase price.

8) Assignment Sales & Flip Tax Notes

Assignments of new residential units have been taxable under HST since May 7, 2022. If you resell (or “flip”) within 12 months of closing, CRA may classify it as business income instead of a capital gain. Always consult your accountant for guidance before assigning or flipping a pre-con property.

9) Other Costs to Budget For

• Home insurance and property tax setup
• Moving and furnishing costs
• Window coverings, landscaping, and light fixtures
• Tarion warranty claims and maintenance

Estimated Cost Range (Typical GTA Pre-Con)

FAQ – Common Questions Buyers Ask

Ready to Explore Pre-Construction Opportunities?

I’ll provide a customized breakdown showing your estimated deposits, interim occupancy, HST treatment, and potential builder incentives—so you know exactly what to expect.

Disclaimer: This information reflects GTA norms as of October 27, 2025 and is for general guidance only. Always verify final figures with your lawyer and accountant.