Pre-Construction Homes in Oakville
Buy new with your eyes open.
A brand-new home, your choice of finishes and time to save before closing. Pre-construction can be a smart way to buy in Oakville, but the contracts, deposits and closing costs work differently than a resale purchase. This page explains how it works and what to watch for before you sign.
Tarlika Sehgal, REALTOR®, SRS, ABR
eXp Realty Of Canada, Inc., Brokerage
Visiting a sales centre? Bring your agent the first time.
Many builders only recognize your agent if they are registered at your very first visit. The sales team represents the builder. Having your own agent means someone is looking out for you, and in most cases the builder pays your agent's commission.
Where are you right now?
Start with the option that sounds most like you.
Is pre-construction right for you?
Buying new has real advantages and real trade-offs. Here is an honest look at both.
Why buyers choose it
What to weigh carefully
How buying pre-construction works
The process is longer than a resale purchase. Here is what each stage looks like.
Set your budget and timeline
Talk to your lender about your purchase price, deposit schedule and when you expect to close, which may be years from now.
Register your agent
Before your first sales centre visit, register me with the builder so I can represent you from the start.
Compare builders, communities and models
We look at each builder's track record, the community plan, lot premiums and what is included as standard so you can compare fairly.
Review the agreement
Have a real estate lawyer review the purchase agreement, the deposit schedule and the closing cost adjustments before you are firmly committed.
Pay deposits on schedule
Deposits are usually paid in several instalments. Make sure your savings plan matches every due date.
Choose finishes and upgrades
Your design centre appointment is where costs can climb. We decide in advance which upgrades are worth it and which can wait.
Inspect and close
Before closing you walk through the home in a pre-delivery inspection and note any issues. Then your lender finalizes the mortgage and your lawyer completes the closing.
Read the price carefully
Two homes with similar prices can cost very different amounts by closing day.
Rebates built into the price
Advertised prices are often shown net of HST rebates that the builder claims on your behalf. If you do not qualify, for example because you will not live in the home, the amount you pay can be higher.
What is actually included
Standard finishes, appliances and features vary widely between builders. Compare what is included, not just the starting price.
Lot premiums and upgrades
Corner lots, ravine lots and larger frontages often carry premiums, and design centre upgrades add up quickly.
Caps on closing costs
Some agreements cap certain closing adjustments. Ask what is capped and what is not before you sign.
Costs to plan for
Your purchase price is only part of the total. Budget for these as well.
Before closing
At closing
Good to know: Oakville does not charge a municipal land transfer tax like Toronto does. First-time buyers may also qualify for land transfer tax refunds and new home HST rebates, so confirm your eligibility with your lawyer before you sign.
Your protections as a new home buyer
Ontario has specific rules for new homes. Know them before you commit.
Tarion warranty
New homes in Ontario come with warranty coverage that includes one-year, two-year and seven-year protections for different types of defects.
Licensed builders
Builders must be licensed in Ontario. Check a builder's licence, history and past warranty record in the Ontario Builder Directory before you buy.
Delayed closing warranty
Your agreement must follow Tarion's closing date rules. If your builder misses dates without proper notice, you may be entitled to compensation.
Cooling-off periods
New condo purchases come with a 10-day cooling-off period. A cooling-off period for new freehold homes has been legislated but is not yet in effect, so a lawyer review before you sign is essential.
Where new homes are being built in Oakville
New construction in Oakville is concentrated in a few growth areas, each with a different style of home.
North Oakville
Master-planned communities north of Dundas Street, with new freehold townhomes and detached homes from several builders.
Midtown Oakville
The area around Oakville GO is planned for higher-density growth, including new condos close to transit.
Uptown Core and Trafalgar corridor
Mid-rise and high-rise condos near shopping, services and transit connections.
Lakeside and infill
Boutique condo buildings and smaller infill projects in established areas closer to the lake.
Want to know which communities are releasing next? Join my update list.
Thinking of selling before closing?
Selling your purchase agreement before closing is called an assignment. It is possible in some cases, but it comes with conditions.
Why work with Tarlika
The sales centre is designed to make you fall in love with a model home. The builder's team represents the builder. I represent you, and my job is to make sure the numbers, the contract and the timeline work for your life.
I hold the Accredited Buyer's Representative (ABR) designation, and I build side-by-side comparisons of models, included finishes and true costs so you can compare builders fairly.
Before real estate, I spent more than 25 years in business, including work with financial institutions and running a franchise with The Second Cup. That background helps me read deposit schedules, price sheets and adjustments with a careful eye.
What I do for you
Helpful resources
Frequently asked questions
Do I need my own agent to buy pre-construction?
You do not have to, but the builder's sales team works for the builder. Your own agent can compare options, flag risks in the agreement and negotiate where possible. In most cases the builder pays the agent's commission, but many builders require your agent to be registered at your first visit, so arrange this before you go.
How much deposit do I need?
It depends on the builder and the type of home. Deposits are often paid in several instalments before closing. Ask for the full deposit schedule in writing and make sure your savings plan matches it.
Is there a cooling-off period?
New condo purchases in Ontario come with a 10-day cooling-off period. A cooling-off period for new freehold homes has been legislated but is not yet in effect, so have a lawyer review a freehold agreement before you sign or make it conditional on lawyer review.
What happens if my closing is delayed?
Builders must follow the closing date rules in the Tarion addendum to your agreement. If dates are missed without proper notice or agreement, you may be entitled to compensation under Tarion's delayed closing warranty.
What extra costs should I expect at closing?
Common closing adjustments include development charges or levies not capped in your agreement, utility connection fees, the Tarion enrolment fee, land transfer tax and legal fees. Ask the builder for the adjustment schedule and any caps before you sign.
Can I sell my pre-construction home before closing?
Possibly, through an assignment, if your agreement allows it. Builders often require consent and charge a fee, and profits may be taxed as business income. Speak with a lawyer and an accountant before you plan on it.
Thinking about buying new in Oakville?
No pressure and no obligation. Just honest advice before you visit a sales centre or sign an agreement.
Tarlika Sehgal, REALTOR®, SRS, ABR
eXp Realty Of Canada, Inc., Brokerage
This page is general information and is not legal, tax or financial advice. It does not describe or represent any specific builder or project. Not intended to solicit buyers or sellers currently under contract with a brokerage.