Miami is booming with stunning new developments — sleek glass towers, oceanfront escapes, and luxury-branded residences that promise a lifestyle more than just a home. Buying a pre-construction condo is one of the most exciting ways to get into Miami real estate — whether you're an end-user, investor, or relocating professional. But the process can be confusing if you’ve never done it before.
Below is your step-by-step guide to navigating a pre-construction purchase in Miami like a pro — with clarity, confidence, and smart strategy.
🏗️ Step 1: Understand What Pre-Construction Really Means
When you buy pre-construction, you're purchasing a condo that hasn’t been built yet — or is in the early phases. You're often choosing based on floor plans, 3D renderings, and projected amenities.
Why buyers love it:
Potential for appreciation during construction
New finishes and tech (no remodels needed)
Lower deposit up front
Sometimes lower prices compared to finished units
🔎 Step 2: Choose the Right Development
Not all projects are created equal. Choosing a solid developer and a building in a growth area is essential.
Look for:
A reputable builder with a strong track record
Buildings in neighborhoods like Edgewater, Brickell, Wynwood, and Miami Beach
Upcoming infrastructure or commercial projects nearby
Amenities that hold resale or rental appeal (like rooftop pools, spas, or beach access)
💸 Step 3: Review the Deposit Structure
Pre-construction deposits are paid in stages and are typically 30–50% of the purchase price, spread out over the course of the build.
A common breakdown might be:
10% at reservation or contract
10% after 90 days
10% at groundbreaking
10% at top-off (when the structure is complete)
💡 Important: These deposits are usually non-refundable after a certain point. Be sure you're working with an agent who can walk you through all your rights and options.
📄 Step 4: Review the Contract & Condo Docs
Once you’re ready to commit, the developer will present a contract and condominium documents. You’ll want to carefully review these with your agent and, ideally, a local real estate attorney.
What to check for:
How your money is held in escrow
Construction timeline and extension clauses
HOA fees and what they cover
Rental restrictions (especially for Airbnb investors)
Any options to cancel
🛠️ Step 5: Stay Updated on Construction
Once you’re under contract, the next phase is mostly waiting — but that doesn’t mean going silent.
Developers often send email updates with construction photos
Some offer buyer portals to track progress
You may be able to tour the site or showroom as milestones are hit
In some cases, you’ll choose interior finishes or upgrades if bought early enough
🏦 Step 6: Prepare for Financing or Closing
You won’t close until the building receives its Certificate of Occupancy, which can take 1–3 years depending on the timeline.
In the meantime:
Secure a mortgage pre-approval
Work with a lender who understands new construction
Be aware of closing costs, which may include developer fees, title insurance, and transfer taxes
If paying cash, confirm your payment timeline in advance
✅ Step 7: Final Walkthrough & Close
Once the building is completed and cleared for occupancy, you’ll get a final walkthrough of your unit to check for any construction defects or punch list items.
After that, you’ll go through the closing process — similar to a resale — and receive your keys.
🎉 Congrats! You now own a brand-new condo in one of the most exciting cities in the world.
Final Thoughts
Buying pre-construction in Miami is both an investment in your future and an opportunity to own something truly new, elevated, and customized. It’s a different experience than buying resale — and having the right guidance is key.
As a Miami-based agent with expertise in luxury and new developments, I’m here to walk you through every step — from floor plans to closing day.
📩 Thinking of buying pre-construction in Miami? Let’s find the perfect project together.