See the complete purchase—not only the asking price.
Organize the acquisition into cash required, professional verification, recurring ownership costs and a realistic reserve.
- 1Set total budget
- 2Model cash flow
- 3Confirm with advisers
- 4Keep a reserve
A new development can offer modern systems, amenities and staged payments, but buyers are purchasing a promise as well as a property. Renderings communicate intent; the contract, specifications, approvals and delivery structure define what you are actually buying.
The right diligence looks beyond finishes. It tests the developer, land title, approvals, funding, construction progress, completion protections and the future association budget.
Investigate the project and developer
Review completed projects, ownership of the development site, planning status, contractors, professional team and financing structure. Visit prior developments and speak with owners where possible.
Ask which approvals are final, which remain conditional and how material changes will be communicated. Independent legal advice is essential before signing.
Read the contract as a risk document
Understand reservation terms, deposit protection, payment milestones, completion definition, delay provisions, substitution rights, defects process, cancellation rights and dispute mechanism. Marketing conversations should be reflected in writing.
Link payments to verifiable progress and understand who certifies it. Confirm what happens to funds if construction pauses or the project does not complete.
Model the delivered property
Study the unit plan, orientation, view corridor, parking, storage, appliance and finish schedules, utility systems and furnishing scope. Ask how measurements are defined and what tolerances apply.
Request the proposed association structure, operating budget, reserve assumptions, rental rules and handover process. Low estimated dues during sales do not guarantee low long-term costs.
Buyer checklist
- Verify land title and current approvals
- Review the developer’s completed work
- Have independent counsel review the contract
- Match payments to documented milestones
- Model association fees and furnishing costs
Häufig gestellte Fragen
Is a reservation form binding?
It can create obligations depending on its wording and jurisdiction. Obtain advice before paying or signing.
What if the finished unit differs from the rendering?
The contract and technical specification usually control. Review substitution and variation clauses carefully.
When should I inspect the unit?
The contract should define inspection, snagging, defect correction and handover stages. Consider independent inspection at appropriate milestones.
Important: This guide is general market information, not legal, tax, financial, engineering, insurance or investment advice. Rules, costs and property conditions change. Obtain independent, transaction-specific advice from qualified professionals before making a decision.
