How to Buy Pre-Construction in Ontario — Complete 2026 Guide

The Complete Pre-Construction Buying Process

Buying a pre-construction home in Ontario involves a different process than purchasing a resale property. You're buying a home that doesn't exist yet — signing a contract based on floor plans, specifications, and a builder's track record. When done right, it's one of the best financial decisions available to Ontario buyers. Here is every step, in order.

Step 1 — Get Pre-Approved (Before You Register)

Before you attend any VIP or platinum event, get a mortgage pre-approval from a lender or mortgage broker. This confirms how much you can borrow and gives you a clear budget. Pre-construction deposits are paid out of pocket — they're not financed — so you need to know you have both the deposit funds and the future mortgage capacity.

Note that pre-approvals for pre-construction are slightly different from resale: the mortgage won't actually close until occupancy (2–4 years away), so lenders are approving your future financial situation, not just today's. An experienced mortgage broker understands this distinction.

Step 2 — Register with a Platinum Broker

Pre-construction projects have access tiers: Platinum Broker (first) → VIP Registrants (second) → Priority Access (third) → Public. To get first access — best floors, best layouts, introductory pricing, builder incentives — you need to be registered with a platinum broker before the project launches.

Registration is free. The builder pays your agent's commission. There is no cost, no obligation, and no pressure when you register. Our team reviews your profile — city, budget, property type, timeline — and matches you with upcoming launches that fit.

Step 3 — Attend the VIP / Platinum Event

When a project launches, your platinum broker invites you to the preview event — typically 48–72 hours before the public release. At this event, you review floor plans, choose your unit (best selection available), confirm pricing, and review builder incentives (extended deposit structures, capped development charges, free upgrades). The best units — corner suites, higher floors, preferred layouts — are typically gone within the first few hours of a platinum event.

Step 4 — Sign the Agreement of Purchase and Sale (APS)

The APS is the formal contract between you and the builder. It specifies the unit, price, floor plan, deposit schedule, included finishes, estimated occupancy date, and your rights and obligations. This is a legally binding document — have a real estate lawyer review it.

In Ontario, you have a 10-day cooling-off period after signing (under the Ontario New Home Warranties Plan Act). During this window, you can rescind the agreement without penalty. Use this time to review with your lawyer, confirm your financing, and ensure you're fully comfortable before proceeding.

Step 5 — Pay Deposits on Schedule

Pre-construction deposits are typically 15–20% of the purchase price, paid in installments over 12–36 months. A common structure for a $700,000 condo looks like: 5% at signing ($35,000), 2.5% at 30 days, 2.5% at 90 days, 5% at 12 months. All deposits are held in trust by the builder's lawyer and are protected under Tarion if the builder cancels. See our Deposit Structure Guide for full details.

Step 6 — Choose Your Finishes

Approximately 6–18 months before occupancy, the builder invites you to the décor centre to choose your finishes: flooring, tile, countertops, cabinet colors, fixtures, and upgrades. This is one of the most enjoyable parts of pre-construction — your new home reflects your choices, not a previous owner's. Upgrades cost extra; standard finishes are included in the original price.

Step 7 — Interim Occupancy (Condos Only)

For high-rise condos, there is often an interim occupancy period between when your unit is ready and when the entire building registers with the municipality. During this period, you move in but don't technically own the unit yet — you pay an occupancy fee to the builder (roughly equivalent to a mortgage payment on your deposit, plus maintenance and taxes). This period typically lasts 3–12 months. You cannot rent out the unit during interim occupancy in most cases.

Step 8 — Final Closing

When the building registers, you close on your mortgage and take legal title. Your lawyer handles the title transfer, land transfer tax payment, and any outstanding closing adjustments. You'll also pay closing costs — see our Closing Costs Guide. After closing, the unit is fully yours.