Meet Kirby Chan, Your Preconstruction Condo Expert
With over 20 years of experience in the Greater Toronto real estate market, Kirby Chan has become a trusted advisor for buyers looking to invest in preconstruction and new development condos. His deep connections with top builders and exclusive access to early project launches give clients a competitive edge, often securing the best units, prices and incentives before they hit the public market.
Whether you’re a first-time investor or expanding your portfolio, Kirby helps you navigate floor plans, builder reputations, pricing structures, and closing costs with confidence. His goal is simple, to help you make smart, strategic choices that maximize both lifestyle and long-term value.
Discover the perfect preconstruction opportunity with Kirby Chan, where expert insight meets genuine care.
Richmond Hill · Markham · Toronto
Preconstruction Condo Buying Guide for Richmond Hill, Markham and Toronto
By Kirby Chan, Broker & Team Leader at Kirby Chan & Co. Real Estate Team
Understanding Preconstruction Condo Investing
Buying a preconstruction condo means purchasing a property before it is completed. This type of investment is popular across Richmond Hill, Markham and Toronto because it allows buyers to secure a home at today’s price while the property appreciates during construction. It also offers flexibility for customization and the opportunity to enter the market with a smaller initial deposit. However, buyers must understand that preconstruction comes with variables such as possible delays and changes in market conditions.
Kirby Chan & Co. Real Estate Team has years of experience guiding buyers through these complexities. By analyzing project details, builder reputation and neighborhood growth, Kirby and his team help clients choose developments that balance value, lifestyle and long-term investment potential.
Why Work With a Preconstruction Expert
Navigating preconstruction contracts and builder incentives requires specialized knowledge. Many buyers are unaware of how developer agreements, closing costs or interim occupancy fees can affect their total investment. Kirby Chan and his team ensure clients are fully informed before signing, helping them avoid hidden costs and ensuring every term is clearly understood.
With deep knowledge of Richmond Hill, Markham and Toronto’s evolving condo landscape, Kirby’s team offers insights into the most promising developments before they hit the public market. Their goal is to secure the best possible unit, floor plan and pricing while protecting your interests from start to finish.
Advantages of Buying Preconstruction Condos
Preconstruction condos offer several advantages for both investors and first-time buyers. You can spread out your payments through a structured deposit plan, giving you more time to manage finances while your property gains value. Early buyers often get priority selection for the best layouts and views, which can significantly increase resale or rental potential once the building is complete.
Kirby Chan & Co. Real Estate Team helps clients identify projects that align with their goals, whether they want a long-term home or an investment opportunity. With strong relationships among top developers in Richmond Hill, Markham and Toronto, the team provides early access to VIP launches and exclusive incentives that are not available to the public.
How Kirby Chan & Co. Can Help You Buy Smarter
Purchasing a preconstruction condo requires more than just selecting a floor plan. It demands market insight, negotiation experience and a trusted guide who understands the process from deposit to key handover. Kirby Chan and his expert team handle every step, from reviewing agreements and coordinating with lawyers to tracking project progress and ensuring on-time closings.
When you partner with Kirby Chan & Co. Real Estate Team, you gain access to reliable market data, professional representation and an advocate who puts your interests first. Whether you’re buying in Richmond Hill, Markham or Toronto, you’ll have a dedicated team helping you secure the right condo with confidence and peace of mind.
The Pre-Construction Buying Process Step by Step
Buying a pre-construction condo is a unique opportunity — you’re investing in a property before it’s built, often securing a lower price and benefiting from future appreciation. But it’s also a more complex process than a traditional resale purchase. Here’s what to expect, step by step.
Step 1: Research the Market and Location
- Look at areas with growth potential.
- Consider factors like new infrastructure, transit expansion and neighborhood development plans.
- A good location will help your investment grow in value by the time construction is complete.
Step 2: Choose the Right Project
- Compare multiple options and pay attention to:
- Price per square foot compared to nearby resale properties.
- The builder’s incentives (cashback, upgrades or capped fees).
- Floor plans, amenities and expected occupancy dates.
- Choose a project that fits your timeline, lifestyle and goals.
Step 3: Understand Deposit Structures
- Deposits for pre-construction units are usually made in stages:
- 5% on signing
- 5% in 90 days
- 5% in 180 days
- 5% on occupancy
- These deposits show commitment but also give you time to plan your finances.
Step 4: Review the Agreement of Purchase and Sale (APS)
- This contract outlines everything — from price and payment terms to finishing details and occupancy dates.
- Have a real estate lawyer review it carefully before signing.
- Look for conditions like cooling-off periods, cancellation clauses and adjustments that might affect your final cost.
Step 5: Track the Construction Phases
- Construction period: The building is developed over the next few years.
- Interim occupancy: You can move in before the condo is fully registered but pay an occupancy fee instead of a mortgage.
- Final closing: Ownership officially transfers and your mortgage takes effect.
Step 6: Prepare for Closing
- As your unit nears completion, confirm your mortgage approval and calculate closing costs.
- Plan for move-in with your lawyer and agent to stay on top of deadlines and documents.
The pre-construction process takes time, but with careful planning, patience and professional guidance, you can move from blueprint to move-in day with confidence.
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+1(416) 305-8008 | info@kirbychanandco.com