Miami Pre-Construction Condos

Pre-construction condos are new developments that are either in the planning, pre-sales, or construction phase. Buyers can purchase units before the building is completed, often at lower prices than resale and with flexible deposit structures spread over the construction timeline.

Key advantages include: lower entry prices before completion, flexible deposit structures (typically 20-30% spread over time vs. 20% upfront for resale), ability to customize finishes in some cases, potential for appreciation by completion, and access to the newest amenities and building technology.

Most Miami pre-construction developments require 20-30% of the purchase price as a deposit, structured over milestones. A typical schedule is 10% at contract signing, 10% at groundbreaking, and 10% at top-off, with the remaining balance due at closing. Some developers offer more flexible terms.

The most active pre-construction markets in Miami include Brickell, Downtown Miami, Edgewater, North Miami Beach, and Sunny Isles Beach. Each neighborhood offers different price points and lifestyle options, from urban high-rises to beachfront luxury.

Yes, foreign buyers can purchase pre-construction property in Miami without restrictions. Many developers welcome international buyers and some offer special financing programs. Key considerations include FIRPTA tax withholding upon eventual sale and the deposit structure timeline.