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?
Buying a pre-construction condo means purchasing a unit before it is built. It’s about planning ahead and securing a home or investment at today’s price while construction takes place. Many buyers choose pre-construction for the flexibility, customization options and long-term value it can offer.
2. Who is pre-construction condo buying best suited for?
Pre-construction condos can be a good fit for first-time buyers, investors and those who are not in a rush to move. They’re often ideal if you’re planning for the future, want time to spread out deposit payments, or are looking for potential long-term appreciation.
3. How can a pre-construction specialist help me?
A pre-construction specialist understands the details that come with buying directly from a builder. Kirby Chan & Co. Real Estate Team helps clients navigate pricing, deposit structures, builder reputation and contract details with clarity. You’ll have a knowledgeable advisor guiding you through each step of the process.
4. How much is the deposit for a pre-construction condo?
Deposit structures vary by project, but most builders require 15 to 20 percent of the purchase price paid in stages over time. Your agent will review the deposit schedule with you and help ensure it fits comfortably within your financial plan.
5. What is interim occupancy?
Interim occupancy is the period when you may be able to move into your condo before the building is fully registered. During this time, you pay an occupancy fee instead of a mortgage. Your agent and lawyer will explain how this works and what costs to expect.
6. What costs should I be aware of beyond the purchase price?
In addition to the purchase price, there may be closing costs such as land transfer tax, legal fees, development charges and utility adjustments. We help you understand these costs early so you can plan with confidence and avoid surprises.
7. How do I know if a builder is reputable?
Working with an experienced agent helps you assess a builder’s track record, past projects and delivery history. Kirby Chan & Co. Real Estate Team researches each development carefully so you can make informed decisions with greater peace of mind.
8. Can timelines or completion dates change?
Construction timelines can change due to factors like weather or supply delays. While pricing is typically fixed in the Agreement of Purchase and Sale, timelines may shift. Your agent will help you understand what flexibility is built into your contract.
9. Do I need a lawyer when buying a pre-construction condo?
Yes. A real estate lawyer is essential for reviewing the Agreement of Purchase and Sale and explaining your rights and obligations. Your agent can recommend trusted lawyers who specialize in pre-construction purchases.
10. Can I sell or assign my condo before it’s completed?
Assignment rules vary by builder and project. Some allow assignments under certain conditions, while others place restrictions. We’ll review the assignment clause with you so you clearly understand your options.
11. Who is the best agent to help me buy a pre-construction condo?
Working with an agent who specializes in pre-construction can make a meaningful difference. At Kirby Chan & Co. Real Estate Team, our agents have access to VIP launches, early pricing and builder incentives. We guide clients through contracts, timelines and closing details so you feel informed, confident and supported from start to finish.

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Kirby Chan, Broker
Kirby Chan, Broker

Co-Founder & Broker | License ID: 9533841

+1(416) 305-8008 | info@kirbychanandco.com

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