Why Work With
Matthew Gizzie?
Pre-construction is one of the most complex real estate transactions a buyer can make — and in a fast-growing region like York Region and Simcoe County, the stakes are high. Newmarket, Aurora, Bradford, East Gwillimbury, Innisfil, and Barrie are seeing significant new development activity, and knowing which projects — and which developers — are worth your money makes all the difference.
Matthew Gizzie Real Estate brings hands-on pre-construction expertise, deep knowledge of the York Region and Simcoe market, and a network of top developer relationships across the region. From VIP project access before public launch to guiding you through closing costs, assignments, and everything in between — Matthew is with you every step of the way.
And the best part? Buyer representation costs you nothing. The developer pays your agent's commission. Going to the sales office alone doesn't save you money — it just means you're unrepresented in one of the most important financial decisions of your life.
The Complete Pre-Construction
Buying Process in York Region & Simcoe
From discovery to possession — here's exactly what happens at every stage of buying pre-construction in York Region and Simcoe County, and how Matthew ensures you're protected and prepared every step of the way.
Research & Discovery
Before signing anything, you need to study the developer's track record, the growth trajectory of the specific community, transit and infrastructure plans, and comparable sales. In York Region and Simcoe County, this means understanding factors like GO Transit expansion, Highway 400 corridor growth, Barrie GO line upgrades, and which municipalities are attracting the most migration from the GTA. Pre-construction is a bet on future value — your due diligence here is everything.
VIP Preview & Worksheet
VIP launches are high-energy and fast-moving. Agents submit "worksheets" on behalf of clients — a non-binding expression of interest indicating which unit and floor plan you want. Developers allocate units based on preference and agent relationships. Not all worksheets result in an accepted offer.
Signing the Agreement of Purchase & Sale
The APS is a lengthy legal document — often 50–100 pages. It outlines unit specs, purchase price, deposit structure, occupancy timelines, permitted amendments, and your rights. Developers can legally change things like square footage, finishes, and even building elements under certain conditions. You must have a real estate lawyer review this before signing.
The 10-Day Cooling-Off Period
In Ontario, buyers of new condos have a statutory 10-day cooling-off period to rescind the APS for any reason with a full deposit refund. Use this time to have your lawyer review every clause, finalize your financing plan, and do a final sanity check. This is your only chance to walk away penalty-free.
Deposit Structure
Pre-construction deposits are paid in installments over the construction period. A typical deposit structure: 5% on signing → 5% at 30 days → 5% at 90 days → 5% at occupancy. All funds must be held in trust by the developer's lawyer and are protected under Tarion (in Ontario) if the builder becomes insolvent.
Construction Period & Upgrades
You'll be invited to a design centre appointment to select finishes — flooring, cabinetry, countertops — and optional upgrades. Upgrades can add significant cost and are often marked up. Choose wisely: structural upgrades worth doing are those that can't be changed later. Cosmetic upgrades may be cheaper to replace post-possession.
Interim Occupancy (Condos)
When your unit is ready but the building hasn't been registered yet, you enter "interim occupancy." You can move in — but don't own the unit yet. You pay an occupancy fee covering estimated mortgage interest, property taxes, and maintenance fees. This money does NOT go toward your purchase price. This period can last a few weeks to over a year.
Final Closing & Registration
Registration is when the condo corporation forms, title transfers to individual owners, and you officially become the legal owner. Your mortgage funds, and you pay the balance of the purchase price plus all closing costs. Your lawyer handles most of the mechanics — your job is to be financially prepared and available to sign.
PDI & Tarion Warranty
Before or at possession you'll complete a Pre-Delivery Inspection to document deficiencies. New homes in Ontario are protected under Tarion — 1 year on workmanship, 2 years on systems (electrical, plumbing, water), and 7 years on major structural defects. Document everything. Missing a warranty submission deadline can void coverage.
Real Pros
& Real Cons
Pre-construction is a powerful tool — not a guarantee. In a growing market like York Region and Simcoe County, understanding both sides clearly is the foundation of a smart decision.
- Time to Build Your Down PaymentDeposit installments spread over 2+ years let you save gradually rather than needing everything upfront.
- Locked-In Today's PriceIn a rising market, you buy at today's value and take possession in the future — potential for significant appreciation before you even move in.
- Brand New ConstructionNo maintenance backlog, modern layouts, newer building code standards, and better energy efficiency throughout.
- Tarion Warranty Protection7-year structural warranty and shorter-term coverage on workmanship and systems — impossible to get on resale.
- Choice of Unit & FloorVIP buyers select their preferred floor, view, and layout — something impossible in the resale market.
- HST Rebate (Owner-Occupants)If purchasing as a principal residence, you're eligible for a significant HST rebate — potentially $24,000+.
- Assignment OpportunityMany contracts allow you to sell the unit before closing, capturing appreciation without ever taking possession.
- Delays Are the NormMost projects run 6 months to 2+ years late. Your living situation needs to accommodate this uncertainty.
- Market Risk at ClosingIf values drop, your appraisal may come in below purchase price — and you'll need additional cash to bridge the gap.
- High Closing CostsDevelopment charges, levies, taxes, and fees can add 5–8% to your purchase price. Many buyers are blindsided.
- Occupancy Fee LimboYou're paying significant carrying costs during occupancy without building equity in your own property.
- Unit May Be Smaller Than ExpectedDevelopers can legally reduce your square footage up to 5% without compensation.
- Renderings vs. RealityLobby materials, appliances, and common areas sometimes change significantly from what was marketed.
- Idle CapitalYour deposit sits for years — not invested, not earning returns, and not in the market.
- Investor HST RiskIf you're buying as an investor (not owner-occupant), HST is owed on closing — up to $50,000+ on a typical condo. One of the most costly mistakes buyers make.
Pre-Construction Closing Costs:
What to Budget in York Region & Simcoe
The sticker price is just the start. Every one of these costs factors into your true pre-construction investment in York Region and Simcoe County — and Matthew will walk you through all of them before you sign a thing.
Deposit / Down Payment
Paid in installments over the construction period. Held in trust — protected under Tarion. Not a mortgage payment; this is your own cash out of pocket.
15–20% of PriceDevelopment Charges
Municipal fees tied to new construction infrastructure. These vary significantly by municipality in York Region and Simcoe County — Newmarket, Aurora, Bradford, East Gwillimbury, Barrie, and Innisfil each set their own schedules. Always check the cap in your APS.
$20K–$60K+Land Transfer Tax
Good news for buyers in York Region and Simcoe County — unlike Toronto, there is NO municipal land transfer tax here. You pay only the provincial LTT. First-time buyers receive a rebate of up to $4,000. This is a meaningful advantage over buying in the City of Toronto.
Provincial LTT OnlyLegal Fees
Budget for two sets of legal fees — one at signing/review, one at closing. Pre-construction is significantly more complex than a standard resale transaction.
$3,000–$6,000HST Treatment
For principal residences, HST is typically included in the developer's price with a rebate applied. For investors, HST is owed at closing — up to $50K+. Critical to clarify early.
Up to $24K RebateTarion Enrollment Fee
Mandatory new home warranty fee. Developers often pass this to the buyer as a closing adjustment — it should be visible in your APS.
$1,500–$2,500Utility Connection Fees
Hook-up fees for hydro, gas, and water. Often listed as adjustments on your statement at closing. Small but worth budgeting.
$500–$2,500Occupancy Fees
Monthly payments during interim occupancy — covering estimated mortgage interest, property taxes, and condo fees. Not equity. A real carrying cost to budget for.
$1,500–$3,500/moHow Matthew Guides
You Through It All
Pre-construction isn't a transaction — it's a multi-year relationship. Here's what you get when Matthew Gizzie is in your corner across York Region and Simcoe County.
VIP Access Across York Region & Simcoe
Through established developer relationships, Matthew secures pre-launch access to new projects across the region — townhome communities in Bradford and East Gwillimbury, low-rise developments in Newmarket and Aurora, and condo projects in Barrie and Innisfil — before the public ever hears about them.
Developer Due Diligence — Locally
Not every project in York Region or Simcoe County is worth buying. Matthew vets developer track records, reviews past builds across the region, and assesses financial backing — so you can buy with confidence, or walk away when a project doesn't add up.
APS Review & Lawyer Referral
Matthew walks you through every key clause before you sit down with your lawyer — so you understand what you're signing. He'll connect you with a lawyer who specializes in pre-construction if needed.
Full Closing Cost Transparency
From day one, Matthew provides a detailed estimate of all closing costs — development charges, taxes, fees, and more. No surprises at closing. No costs you weren't prepared for.
Design Centre Guidance
Matthew helps you prioritize upgrades that add real value and resale appeal — and avoid spending thousands on items you could upgrade for less after possession.
Deposit & Deadline Management
Matthew tracks every installment date, Tarion deadline, and cooling-off window on your behalf — and gives you ample advance notice so you're never caught off guard.
PDI Attendance & Inspection
Matthew attends your Pre-Delivery Inspection with you and recommends independent inspectors to ensure every deficiency is documented — protecting your warranty rights from day one.
Zero Cost to You
Buyer representation in pre-construction is paid by the developer. Going directly to the sales office doesn't save you money — it just means you're unrepresented at one of the biggest financial decisions of your life.
Five Star Service, Every Step
From your first inquiry to your warranty submissions two years after closing — Matthew Gizzie Real Estate is your partner for the entire journey. Responsive, proactive, and always in your corner.
"Experience Five Star Service Every Step of the Way."— Matthew Gizzie Real Estate
Pre-Construction FAQ:
Honest Answers from a York Region Realtor
No jargon, no sales pitch — just straightforward answers to the questions Matthew hears most from pre-construction buyers across York Region and Simcoe County.
Is Pre-Construction
Right for You?
The honest answer is: not for everyone. Understanding whether you're a good fit before you sign is one of the most important conversations Matthew has with buyers across York Region and Simcoe County.
Good Fit
If You…
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✓Have stable income and strong cash reserves Beyond your deposit, you'll need liquidity for closing costs, occupancy fees, and potential appraisal gaps. Pre-construction rewards financial cushion.
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✓Don't need to move on a fixed timeline Delays are common. If your lease is up, your house is sold, or you need to be somewhere by a certain date — pre-con adds stress you don't need.
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✓Can absorb interim occupancy carrying costs Occupancy fees can run $1,500–$3,500/month and don't build equity. If your budget is already stretched, this stage gets painful fast.
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✓Are comfortable with market risk and uncertainty You're locking in today's price for a future delivery. The market can shift. If volatility keeps you up at night, you may be happier in resale.
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✓Are buying with a 5–10+ year horizon Pre-construction rewards patience. Buyers who plan to hold long-term are far better insulated against short-term market fluctuations at closing.
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✓Want the flexibility of an assignment exit Investors who want the option to sell before closing without ever taking possession benefit most from pre-construction's unique flexibility.
Poor Fit
If You…
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✗Need to be in your home by a specific date Pre-construction timelines are estimates, not guarantees. If your move-in date is fixed, a developer delay can put you in an expensive, stressful situation.
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✗Are stretching to qualify at today's prices If you're right at your borrowing limit now, rate changes, stress test updates, or income shifts by closing time can jeopardize your mortgage approval entirely.
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✗Can't absorb a potential appraisal gap If values soften and your appraisal comes in below your purchase price, you'll need cash to bridge the difference. No savings buffer = real closing-day risk.
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✗Need rental income from day one You won't see rental revenue for 2–5 years. If your investment thesis depends on immediate cash flow, pre-construction is the wrong vehicle.
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✗Are counting on short-term appreciation Pre-construction is not a quick flip. The costs of entry — levies, taxes, occupancy fees — eat into short-term gains fast. This is a long game.
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✗Haven't stress-tested your finances at closing rates The rate environment at signing and the rate environment at closing can be very different. Run your numbers at both — and then add a buffer.
"Not sure which column you fall into? That's exactly what your first conversation with Matthew is for — and it's completely free."
Talk to Matthew →6 Common Pre-Construction
Buyer Mistakes to Avoid
Matthew has seen these play out in real transactions across York Region and Simcoe County. Every one of them is avoidable — with the right guidance before you sign.
Buying Based on Renderings, Not Location Fundamentals
Stunning renderings and rooftop amenities can make a poorly located community feel premium. In York Region and Simcoe County, location fundamentals mean: proximity to GO stations, Highway 400/404 access, school ratings, employment nodes, and whether the surrounding area is growing or stagnating. The building will age. The location won't change.
Over-Upgrading Finishes That Don't Appraise
Spending $30,000 on kitchen upgrades at the design centre feels exciting. But appraisers don't add premium value for developer-installed upgrades at pre-construction markup prices. You often pay 2–3× what those upgrades would cost to install after possession — and they rarely appraise at what you paid.
Underestimating Closing Costs
Buyers consistently budget for the purchase price and forget to plan for development charges, land transfer tax, Tarion fees, legal fees, and utility connections. In York Region and Simcoe County, development charges vary by municipality — what applies in Newmarket is different from Bradford or Barrie. On an $800K townhome, closing costs can add $40,000–$65,000 beyond your down payment. Discovering this at closing is one of the most stressful real estate experiences there is.
Not Planning for the Rate Environment at Closing
You signed when rates were X. You're closing when rates might be Y — and the stress test uses the higher of your contract rate plus 2%, or 5.25%. Buyers who don't model their mortgage qualification at multiple rate scenarios have been caught completely off-guard at closing, unable to finance what they already committed to buy.
Assuming Assignment Profit Is Guaranteed
In a rising market, assignment flips look easy. In a flat or declining market, finding an assignee at a price above your purchase price can be extremely difficult — especially with developer assignment consent fees, legal costs, and a thinner buyer pool. Many buyers plan for the assignment exit without planning for what happens if it doesn't materialize.
Buying Product That Doesn't Match the Market
York Region and Simcoe County skew heavily toward families and end-users — not downtown investors chasing micro-units. Buying a tiny condo in a suburb where the dominant buyer and renter pool wants three bedrooms and a garage is a mismatch. Know who your eventual buyer or tenant actually is in the specific community you're buying into.
What Can Go Wrong
at Closing
The financing risks of pre-construction are different from resale — and they compound over a 2–5 year construction period. Here's what to plan for.
The Stress Test May Work Against You
When you close, lenders re-qualify you using the stress test in effect at that time. If the qualifying rate has moved higher since you signed, you may qualify for less than you originally expected — even if your income hasn't changed.
High RiskLender Policies Change
The lender who pre-approved you 3 years ago may have changed their policies, risk appetite, or product lineup by the time you close. Some lenders have exited condo lending entirely in certain markets. Getting a mortgage commitment early doesn't lock in a lender's willingness to fund years later.
High RiskCondo Building Blacklisting
Lenders can refuse to lend on specific buildings — particularly those with high investor concentration, pending special assessments, reserve fund issues, or buildings in markets they consider overexposed. If your building gets blacklisted, your mortgage options narrow dramatically right at closing.
High RiskAppraisal Comes in Below Purchase Price
If the market has softened, the lender's appraisal may come in below your agreed purchase price. Your mortgage is based on the appraised value — not what you paid. The gap is yours to cover in cash at closing. On a $700K unit, even a 5% gap means $35,000 you need on the spot.
High RiskEmployment or Income Changes
Job changes, switching from salaried to self-employed, gaps in employment, or income reductions between signing and closing can all impact your mortgage approval. Lenders re-verify employment close to the funding date — surprises here can derail a closing in the final days.
Medium RiskInvestor Mortgage Tightening
Regulatory changes can tighten mortgage rules specifically for investment properties — higher required down payments, reduced amortization options, or new stress test floors. Investors who bought under one regulatory regime may find the financing landscape significantly different at closing time.
Medium RiskHow Matthew protects you: From day one, Matthew connects you with a mortgage broker who specializes in pre-construction in York Region and Simcoe County, and runs your numbers at multiple rate and stress test scenarios. He also monitors your building's lender status throughout construction and stays on top of any municipal policy changes that could affect your closing — so you're never blindsided when it matters most.
Your Timeline
of Risk
Risk in pre-construction isn't static — it evolves at each phase. Understanding when you're most exposed helps you prepare for what matters at each stage.
- Market repricing risk
- Developer solvency risk
- APS clause exposure
- Deposit installment timing
- Construction delays
- Occupancy date uncertainty
- Rate policy shifts
- Regulatory changes
- Occupancy fees vs. income
- Extended limbo period
- No mortgage yet
- Double carrying costs
- Appraisal gap risk
- Stress test re-qualification
- Lender blacklisting
- Closing cost surprises
- Employment re-verification
- Market value fluctuation
- Rental market shifts
- Condo fee increases
- Special assessments
Matthew's role across every phase: Risk doesn't disappear when you sign — it shifts. Matthew stays actively involved from your first conversation through your final warranty submissions, ensuring you have the right preparation, the right professionals, and the right plan at every phase of this timeline — whether you're buying in Newmarket, Barrie, Bradford, or anywhere across York Region and Simcoe County.
Red Flags to
Watch For
Not every project — or developer — in York Region and Simcoe County deserves your trust. Matthew screens for all of these before ever recommending a project to a client.
No Track Record
If this is the developer's first major project, or you can't find completed buildings to visit and review, proceed with extreme caution. Research every completed build in person if possible.
Deposits Not in Trust
All deposit funds must be held in trust by a licensed lawyer or financial institution. Vague APS language on this point is a serious red flag.
Uncapped Development Levies
An uncapped levy clause means you absorb any increase in municipal charges — which can run tens of thousands beyond what you planned for. Always push for a cap.
Pressure to Sign Immediately
Any developer who pressures you to skip the cooling-off period, bypass a lawyer review, or sign on the spot is not operating in your interest. Walk away.
Overpromised Renderings
Gorgeous lobby renderings and amenity pools that seem too good to be true often are. Verify what's committed in the budget versus what's aspirational marketing material.
Inflated Square Footage
If listed square footage creatively includes balcony, mechanical, or pillar space, actual livable area may be significantly smaller than advertised. Clarify before signing.
Pre-Construction
Buyer Checklist
Use this before and throughout your purchase in York Region or Simcoe County. A prepared buyer is a protected buyer — and Matthew will walk you through every item on this list.
Before You Sign
- Research developer's completed projects — visit them in person
- Engage Matthew for VIP access and project vetting
- Hire a real estate lawyer experienced in pre-construction
- Confirm all deposit funds will be held in trust
- Review development levy caps in the APS
- Understand the permitted variances clause (unit size, finishes)
- Confirm assignment clause and any developer consent requirements
- Clarify HST treatment — owner-occupant vs. investor
- Get a full closing cost estimate from Matthew — municipality-specific for your project's location
- Understand the interim occupancy structure and monthly cost estimate
- Check for rental restrictions in the proposed condo rules
During & After Construction
- Track each deposit installment date — Matthew will remind you
- Lock in your mortgage rate 120 days before anticipated closing
- Re-confirm mortgage qualification ahead of closing
- Attend design centre with a clear budget and priority list
- Hire an independent inspector for your PDI
- Document all deficiencies in writing on PDI day
- Submit Year 1 Tarion warranty items before deadline
- Track and submit Year 2 warranty items on time
- Confirm condo corporation registration and finalize budget
- Consult CPA on any assignment or investment tax obligations
Ready to Buy Pre-Construction
in York Region or Simcoe?
Experience Five Star Service Every Step of the Way
Whether you're looking in Newmarket, Aurora, Bradford, East Gwillimbury, Innisfil, or Barrie — Matthew brings VIP access, full cost transparency, and expert guidance from offer to keys. And it costs you nothing.
Book a Free Consultation