Pre-construction guide
Deposit structure explained
How much you pay, when, and how your deposit is protected.
A typical GTA condo deposit
Condo deposits in the GTA are commonly 15% to 20% of the price, paid over 12 to 24 months, for example 5% on signing, 5% within 90 days, 5% within 180 days and 5% at occupancy. Freehold homes (townhomes and detached) often use fixed amounts instead, such as $20,000 on signing followed by set instalments. Every project is different, and builders often improve deposit terms as an incentive.
Is my deposit protected?
Tarion’s new home warranty protects deposits if a builder cannot complete the home: up to $20,000 for condominium units, and for freehold homes up to $60,000 (homes priced at $600,000 or less) or 10% of the price to a maximum of $100,000 (homes over $600,000). For condos, deposits above the Tarion amount must be held in trust or covered by deposit insurance under the Condominium Act. Ask your lawyer to confirm how your deposit is held.
Plan for closing too
Your deposits count toward the down payment, but you will still need funds at closing for land transfer tax, legal fees and the builder’s closing adjustments.
Deposit calculator
Total deposits
$150,000
- On signing (5%)
- $37,500
- In 90 days (5%)
- $37,500
- In 180 days (5%)
- $37,500
- In 365 days (5%)
- $37,500
Deposits count toward your down payment. Budget separately for closing costs and the builder's closing adjustments.
General information only, reviewed October 2026. Confirm the details for your purchase with your lawyer.