How to Buy Pre-Construction in Miami
The Step-by-Step Buyer's Guide for 2026

Every week, I speak with buyers who are seriously interested in Miami's pre-construction market but do not fully understand how the process works, what questions to ask, or what distinguishes the right development from the wrong one. This guide is designed to give you the information that the developer's sales team will not volunteer — the unfiltered picture of how pre-construction buying works in Miami in 2026, including what can go wrong and how to protect yourself.

Step 1 — Define Your Goal Before You Look at Any Development

The single biggest mistake buyers make entering Miami's pre-construction market is looking at specific developments before they have clearly defined their goal. "I want a nice Miami condo" is not a goal. A goal sounds like one of these:

• Investment return. You want to capture construction-period appreciation, rent the unit post-delivery, and resell within 5–7 years. Priorities: short-term rental approval, Brickell or high-demand walkable neighborhood, strong secondary market liquidity, entry price below anticipated delivery value.
• Primary or part-time residence. You are relocating or want a Miami pied-à-terre. Priorities: neighborhood lifestyle fit, unit layout and size, building amenities, proximity to your priorities (work, airport, social life, waterfront).
• International asset diversification. You want USD-denominated real estate in a stable political environment with no foreign ownership restrictions. Priorities: brand strength, long-term appreciation story, ease of management, resale liquidity.

These goals lead to completely different development and unit recommendations. Defining yours first makes everything that follows more efficient.

Step 2 — Understand the Developer Before You Fall in Love with a Rendering

Developers vary dramatically in track record, capitalization, and reliability. In Miami's current market, most of the flagship developments are from proven groups — Newgard and Two Roads (The Standard Brickell), JDS Development (888 Brickell), the Faena Group and Aman (Faena Residences). But developer vetting should always be a step in your due diligence. Ask:

• What projects have they completed in Florida? Review the delivered projects — were they on time? Did the finished product match what was represented in pre-sales?
• Is the project fully permitted? A development can be in pre-sales long before a building permit is issued. Confirm the status of permits and whether the project has broken ground or has a firm groundbreaking date.
• What is the required sales threshold before construction begins? Most Florida pre-construction projects require a specific percentage of units to be under contract before the developer can access escrow funds and begin construction. Ask where the project is relative to that threshold.
• Who is financing construction? Understanding whether a construction loan has been secured, or whether the project is equity-funded, speaks to the project's financial stability and delivery risk.

Step 3 — Get a Buyer's Advisor Before You Visit the Sales Center

This point cannot be overstated: the sales team at the developer's sales center works for the developer, not for you. Their compensation is tied to closing the sale at the highest price with the fewest concessions. They are skilled professionals doing their job — but their job is not to represent your interests.

A buyer's advisor at a firm like ONE Sotheby's International Realty provides independent representation at zero cost to you. Developers compensate buyer's advisors through a co-brokerage fee structure that is already built into the sales economics. By not engaging a buyer's advisor, you are not saving money — you are simply forfeiting representation you have already paid for through the purchase price.

What a buyer's advisor provides that the developer's team does not:

• An independent view of whether this development is the right fit for your specific goal — including recommending against if warranted
• Comparative analysis across multiple competing developments
• Pre-launch access to the best unit inventory before public sales open
• Negotiation support on unit price, upgrades, and closing contributions where available
• Coordination of your attorney review and due diligence process
• No financial stake in which development you choose — only in serving your outcome

Step 4 — Know What You Are Signing

The Purchase and Sale Agreement for a Miami pre-construction condo is a long, developer-favorable document. Before you execute it, your attorney should review it in full. The sections that matter most:

Deposit Structure and Escrow Terms

Confirm that your deposits are held in a Florida statutory escrow account pursuant to Chapter 718 of Florida's Condominium Act. This is the legal protection that prevents the developer from accessing your funds until specific conditions are met. If a development's deposit structure does not clearly specify Florida escrow compliance, this is a serious red flag.

Developer's Right to Modify

Pre-construction PSAs typically include provisions allowing the developer to make certain modifications to the building, amenities, or unit specifications before delivery. Understand what is locked in (your unit's square footage, floor plan, view orientation) and what can change (finishes, amenity programming, building design details).

Closing Timeline and Delay Provisions

Florida's Condominium Act gives developers significant latitude on delivery timelines. A "2027 delivery" in a sales brochure is a projection, not a contractual commitment. The PSA will specify the outer delivery date and the conditions under which your deposit would be refunded if the project fails to deliver by that date. Understand these provisions before you sign.

Rental Restrictions

If rental income is part of your investment thesis, the condominium declaration's rental restrictions are critical. Some developments allow short-term rentals (under 30 days); others restrict to 30-, 90-, or 180-day minimums. Miami Beach specifically has neighborhood-level restrictions that override the building's own rules in some cases. Confirm the rental structure before you commit.

Step 5 — Plan Your Deposit Schedule and Closing Financing

Miami pre-construction requires capital over time, not all at once. A typical 2026 deposit schedule looks like this:

1. Reservation deposit: $10,000–$50,000 (fully refundable during attorney review period)
2. Contract execution: 10% of purchase price (held in Florida escrow)
3. Groundbreaking: Additional 10%
4. Slab completion: Additional 10%
5. Top-off: Additional 10%
6. Closing / delivery: Remaining 60% — financed or cash

This structure means a $1M purchase requires roughly $300,000–$400,000 in deposits over 24–36 months, with the $600,000–$700,000 balance due at closing. If you are financing the balance, your mortgage application will need to happen close to delivery — pre-construction purchase contracts are not the same as traditional mortgage applications. Start the lender conversation at least 12 months before anticipated delivery.

The 10 Questions Every Miami Pre-Construction Buyer Should Ask

Red Flags to Avoid in Miami's 2026 Pre-Construction Market

The Current Miami Pre-Construction Developments Worth Knowing

In 2026, these are the developments I am actively presenting to buyer clients — each for a different buyer profile:

• The Standard Residences Brickell — Best entry-level investment play. From $600K in Brickell with short-term rental approval. Delivery 2027.
• 888 Brickell by Dolce & Gabbana — The definitive ultra-luxury statement. From $5M+. No comparable product exists anywhere in the market.
• Faena Residences Miami — Oceanfront branded living on Miami Beach. For buyers who want the definitive beach lifestyle address.
• St. Regis Residences Miami — Global brand, Brickell location, from $2.5M. Strong international buyer appeal and resale liquidity.
• Ella Miami Beach — South Beach boutique product. For buyers who want the Beach address with a curated, smaller-scale building.

Every one of these is available through my buyer representation at no cost to you. I can provide detailed floor plan analysis, view comparisons, investment projections, and developer background on any of these projects in a private consultation.