Know the project stage before comparing homes.
New construction in Brickell can mean a proposed project, an active development or a completed residence being sold for the first time. These stages offer different evidence and different timing risks. Identify the stage before comparing a project with an existing condo.
Three checks that change the answer.
Separate announced, under-construction and delivered projects.
Read developer offering documents for deposits, completion conditions and changes to plans.
Compare projected association fees with actual resale building budgets.
Separate concept, contract and completed home
Renderings describe an intended product. Ask for the latest developer materials and applicable offering documents, then confirm the current project status and the exact residence being considered. Plans, features and dates may change.
- Confirm whether the project is proposed, under construction or delivered.
- Compare the unit plan and specifications with contract documents.
- Verify timing through current project records, not an old announcement.
Understand the cash and timing path
A development purchase can involve staged deposits before occupancy, while a completed resale follows a different transaction timetable. Have independent counsel review deposit, escrow, change and completion provisions for the specific contract.
- Map each deposit amount and due date before committing.
- Review contractual changes and cancellation provisions with counsel.
- Keep a separate plan if the intended move-in date changes.
Compare projected and actual costs
Projected association expenses are estimates. An operating resale association has an adopted budget and history to inspect. Compare these different kinds of evidence without presenting one as equally certain as the other.
- Request the proposed budget and what it includes.
- Compare it with current resale budgets and insurance information.
- Allow for changes in taxes, insurance and financing before occupancy.
Compare proposals with completed homes
A project brochure and an existing unit offer different kinds of certainty.
| Compare | Ask for | Why it matters |
|---|---|---|
| Status | Developer update and current permit or delivery documentation | Proposed completion is not a guaranteed move-in date |
| Money | Deposit schedule and escrow terms reviewed by counsel | Cash may be tied up before occupancy |
| Budget | Estimated association budget versus a resale association’s adopted budget | Forecast fees are not actual operating costs |
Editorial framework. Figures and unit-specific information must be verified independently.
Make the comparison specific.
Marketing plans and renderings may change. Confirm project status and contractual terms directly with the developer and independent counsel.
Share your move date, deposit comfort level, budget and whether you would also consider a completed resale.