Meet Kirby Chan, Your Preconstruction Condo Expert
Kirby Chan & Co. Real Estate Team is led by trusted advisor Kirby Chan. With his experience, Kirby supports buyers looking to purchase pre-construction and new development condos. His approach begins by helping clients get situated in the right area first, considering lifestyle needs, transit access and long-term growth potential before ever selecting a project.
Through long-standing relationships with top builders, Kirby provides early access to new launches and the ability to secure preferred units, pricing and incentives before projects are released to the public, giving his clients a clear competitive advantage.
Whether you’re a first-time investor or expanding your real estate portfolio, Kirby guides you through floor plans, builder reputations, pricing structures and closing costs with clarity and confidence, ensuring each decision is informed, strategic and aligned with your long-term goals.
Richmond Hill · Markham · Toronto
Preconstruction Condo Buying Guide for Richmond Hill, Markham and Toronto
Understanding Preconstruction Condo Investing
Buying a pre-construction condo means purchasing a property before it is completed. This approach is popular across Richmond Hill, Markham and Toronto because it allows buyers to secure a home at today’s price while benefiting from potential appreciation during construction. Pre-construction also offers customization options and typically requires a staged deposit rather than a full down payment upfront.
That said, pre-construction purchases involve variables such as construction timelines, interim occupancy periods and market changes. Kirby Chan & Co. Real Estate Team helps clients understand these factors by evaluating builder track records, project details and neighbourhood growth. This ensures each purchase balances lifestyle goals with long-term investment potential.
Why Work With a Preconstruction Expert
Pre-construction contracts and builder incentives require specialized knowledge. Many buyers are unfamiliar with how developer agreements, interim occupancy fees and closing adjustments can affect the total cost of ownership. Kirby Chan and his team ensure clients fully understand every detail before signing, helping avoid unexpected expenses and confusion later.
With deep insight into Richmond Hill, Markham and Toronto’s evolving condo market, the team provides access to promising developments before they reach the public market. The focus is always on securing the right unit, layout and pricing while protecting your interests from start to finish.
Advantages of Buying Preconstruction Condos
Pre-construction condos offer benefits for both investors and end users. Staggered deposit structures allow buyers to spread payments over time while the property is being built. Early purchasers often receive priority access to desirable floor plans, views and incentives, which can enhance resale or rental value upon completion.
Kirby Chan & Co. Real Estate Team works closely with trusted builders across the GTA to identify projects that align with each client’s goals. Whether you’re purchasing a future home or an investment property, the team provides early access to VIP launches and builder incentives not typically available to the public.
How Kirby Chan & Co. Can Help You Buy Smarter
Buying a pre-construction condo involves more than choosing a floor plan. It requires market insight, contract review and careful coordination from deposit to final closing. Kirby Chan and his team manage the entire process, from reviewing agreements and working with real estate lawyers to tracking construction progress and key milestones.
By working with Kirby Chan & Co. Real Estate Team , you gain professional representation, reliable market data and an advocate focused on protecting your interests. Whether you’re buying in Richmond Hill, Markham or Toronto, you’ll have a dedicated team helping you move forward with confidence.
The Pre-Construction Buying Process Step by Step
Buying a pre-construction condo allows you to secure a property early and benefit from future growth, but it requires careful planning and patience. Here’s how the process typically works.
Step 1: Research the Market and Location
- Focus on areas with strong long-term growth potential
- Consider transit expansions, infrastructure projects and planned community developments
- Choose locations that support future resale and rental demand
Step 2: Choose the Right Project
- Compare multiple developments before committing
- Review price per square foot against nearby resale condos
- Assess builder reputation, past projects and completion history
- Evaluate floor plans, amenities and estimated occupancy timelines
Step 3: Understand the Deposit Structure
- Pre-construction deposits are paid in stages rather than all at once
- Typical structures may include:
- 5% on signing
- 5% in 90 days
- 5% in 180 days
- 5% on occupancy
- This staged approach allows time to plan finances while securing the unit
Step 4: Review the Agreement of Purchase and Sale (APS)
- The APS outlines pricing, deposit schedules, finishes and timelines
- Review clauses related to occupancy dates, adjustments and closing costs
- Always have a real estate lawyer review the agreement before signing
- Pay attention to cooling-off periods and potential changes
Step 5: Track Construction and Occupancy
- Construction typically takes several years to complete
- During interim occupancy, you may move in and pay an occupancy fee instead of a mortgage
- Final closing occurs once the building is registered and ownership transfers
Step 6: Prepare for Final Closing
- Confirm mortgage approval well in advance
- Budget for closing costs such as land transfer tax, legal fees and adjustments
- Coordinate closely with your agent and lawyer to meet all deadlines
Buying pre-construction takes time, but with thoughtful planning and professional guidance, you can move from blueprint to move-in day with clarity and confidence.
Frequently Asked Questions
1. What does buying a pre-construction condo really mean?
2. Who is pre-construction condo buying best suited for?
3. How can a pre-construction specialist help me?
4. How much is the deposit for a pre-construction condo?
5. What is interim occupancy?
6. What costs should I be aware of beyond the purchase price?
7. How do I know if a builder is reputable?
8. Can timelines or completion dates change?
9. Do I need a lawyer when buying a pre-construction condo?
10. Can I sell or assign my condo before it’s completed?
11. Who is the best agent to help me buy a pre-construction condo?
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Co-Founder & Broker | License ID: 9533841
+1(416) 305-8008 | info@kirbychanandco.com
