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Costs Involved In Pre-Construction Condo Purchases

You can purchase a resale property with as little as a 5% down payment. Even when you purchase a brand new home from the builder, the deposit is usually within 5-10%. When you are purchasing pre-construction condos, almost all the time, you will be looking at paying about a 20% down payment. Perhaps you’re thinking, “I saw a big billboard that said I could buy with 5% down!” That’s usually because the builder has pretty much sold all the units and is trying to get rid of the remaining units or when the project is near completion.

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