Buying preconstruction in Boca Raton works differently than buying a completed home, and understanding the deposit structure and timeline upfront avoids surprises later.
Deposits
Preconstruction typically requires deposits in stages tied to construction milestones, rather than one deposit at contract. Understand the total deposit percentage you'll have committed before the building is finished, and what happens to it if the project is delayed or falls through.
Timelines
Construction timelines are estimates, not guarantees. Ask what contractual protections exist if completion is significantly delayed, and factor that uncertainty into any plans tied to a specific move-in date.
What to review before signing
Get the developer's track record on past projects, the HOA budget projections for the completed building, and exactly what's included in the purchase price versus what's considered an upgrade.
Frequently asked
How much deposit is typically required for preconstruction condos? It varies by developer and is usually paid in stages tied to construction milestones rather than all at once — get the specific schedule in writing before committing.
What happens if a preconstruction project is delayed? Contractual protections vary significantly by developer; review the contract's delay provisions carefully before signing, since timelines are estimates rather than guarantees.
Interested in what's being built right now? Browse the coastal luxury home search or call Damara Cohn, Broker, at (561) 637-4559.