The Complete Guide to Buying Pre-Construction in Miami

Buying pre-construction in Miami is one of the most popular strategies for both investors and end-users. Here's everything you need to know.

The typical deposit structure for Miami pre-construction is 50% during construction and 50% at closing. Deposits are usually broken into 4-5 installments: 10% at contract signing, 10% at groundbreaking, 10% at reaching a certain floor, 10% at topping off, and 10% close to completion.

Developer vetting is critical. Look for developers with a track record of on-time delivery in Miami. Check their previous projects, financial backing, and construction partners. We only recommend developers we've personally vetted.

Timeline expectations: most new Miami towers take 3-4 years from pre-sale to delivery. Delays of 6-12 months are common and should be factored into your planning.

Closing costs for pre-construction typically include developer fees, title insurance, recording fees, and any applicable taxes. Budget 2-4% of the purchase price for closing costs.

The advantage of buying early is price — units purchased in the first phase are typically 15-25% below what the same unit will cost at completion. Combined with Miami's appreciation trends, this can represent significant equity at delivery.