Buying Your First New Condo

Begin by browsing Our Communities page on tridel.com, where you can view and filter available communities to find one that suits your lifestyle. Once you have identified a community of interest, you can schedule an appointment online or contact the sales team directly. A representative will provide a comprehensive overview of suite layouts, amenities, pricing, and current availability. After selecting your suite, you’ll sign an Agreement of Purchase and Sale (APS) and submit an initial deposit, followed by a 10‑day cooling‑off period. Once this period concludes, your purchase moves forward through construction, occupancy, and final closing.

The APS is the legally binding contract that outlines all terms of your purchase, including price, deposit structure, timelines, and community details. It also includes schedules such as floor plans and critical dates. This document governs your rights and obligations throughout the entire purchase process.

In Ontario, buyers have 10 calendar days after signing the APS to cancel for any reason and receive their deposit back. This period allows time for your lawyer to review the agreement and for you to fully understand the financial and legal commitment before proceeding.

Pre-construction condos typically require a total deposit of 15–20% of the purchase price, paid in stages over several months or years. The schedule is outlined in your APS. These staged payments allow buyers to spread out their financial commitment during the construction period.

The deposit is paid in installments after signing the APS and is held in trust during construction. The down payment is the total amount required at final closing, which includes all deposits already paid, with any remaining balance funded through your mortgage or additional savings.

In addition to the purchase price, buyers should plan for legal fees, land transfer taxes, HST (less applicable rebates), and builder adjustments such as development charges and utility connections. Your lawyer will provide a detailed statement of adjustments closer to closing.

Standard features vary by community and are outlined in your APS and disclosure documents. These may include appliances, flooring, cabinetry, and basic finishes. Reviewing these details carefully ensures you understand exactly what is included in your purchase.

Tridel has model suites or sales centres that showcase layouts, finishes, and design options. These spaces help you visualize how your home may look upon completion, though actual layouts and finishes may vary depending on your selected suite and community specifications. You can reach out to us for more information.

If you purchase early enough in the construction process, you will be invited to select finishes and upgrades through a design consultation. Options include flooring, cabinetry, and countertops. Availability depends on construction timing and may be limited for later-stage purchases.

Your occupancy date is initially estimated based on construction timelines and outlined in your APS. As construction progresses, the date may be updated. Buyers receive formal notice of any changes in accordance with Ontario regulations.

Interim occupancy is the period when you can move into your suite before the condominium is registered and ownership is transferred. During this time, you have possession of the suite but do not yet hold legal title.

During interim occupancy, you pay monthly fees that typically include estimated property taxes, condominium fees, and interest on the unpaid balance of the purchase price. These payments are not mortgage payments and do not build equity.

You typically receive your keys on your interim occupancy date, once all required documentation and initial payments have been completed. This allows you to move into your suite even though final ownership transfer has not yet occurred.