Thinking about reserving a new-construction condo in Aventura but not sure where to start? You are not alone. Pre-construction can be an excellent path to a brand‑new residence or an investment in a sought‑after market, yet the process is different from buying a resale. In this guide, you will learn exactly how to evaluate projects, structure deposits and financing, protect yourself with the right documents, and close with confidence in Aventura. Let’s dive in.
Why Aventura pre-construction works for many buyers
Aventura is a compact, high‑amenity city in northeast Miami‑Dade with a strong base of luxury towers, mixed‑use communities, and a growing slate of boutique projects. Most pre‑construction options are mid to high‑rise condominiums with curated amenity packages, structured parking, and retail elements that add daily convenience.
If you are buying for personal use, you will find efficient layouts and new building systems. If you are investing, you may be attracted to modern finishes, renter appeal, and the potential for appreciation. Keep in mind that rental policies and short‑term rental rules vary by project and by local ordinance, so verify those details early with the city and in the condo documents. Start by checking the City of Aventura for planning and building resources, then confirm project‑specific rules in the draft declaration.
The step‑by‑step process
Step 0: Prepare your plan and finances
Before you tour sales galleries, decide if this will be your primary home, a second home, or an investment. Your objective affects unit selection, financing, rental policy needs, and taxes. Get lender pre‑qualification for the type of loan you expect to use at closing. Review your liquidity for staged deposits during construction. If you are new to the process, review the mortgage basics to understand timelines and documents.
Hire your team early. Work with a buyer’s agent experienced in Miami‑Dade new construction, a Florida real estate attorney who understands developer contracts, and a mortgage advisor who knows condo project underwriting.
Step 1: Research projects and units
Compare location, views, floor plans, parking and storage options, and the amenity and services program. Ask for the sales brochure, floor plates, and current price sheet by floor and exposure. Review preliminary condominium documents and the building’s rules, especially rental and leasing restrictions. Look at comparable new‑build pricing in nearby micro‑markets like Sunny Isles or Bal Harbour to anchor value.
Step 2: Reserve a unit
Many Aventura projects use a reservation form with a small deposit to hold a stack or a specific line. Reservation terms vary. Confirm who holds the deposit, whether it is refundable, and the deadline to sign the formal purchase contract.
Step 3: Execute the purchase contract and fund initial deposits
Next, you will sign the developer’s contract and make the first major deposit. Deposits often escalate in stages over the build period. Exact percentages vary by project and market conditions. This is the moment to have your attorney review the contract, riders, warranty language, deposit triggers, assignment rights, and any verbal promises that need to be written into an addendum. Developer contracts are detailed and favor the developer, so clarity now prevents friction later.
Step 4: Plan financing and contingencies
Ask whether the contract includes a mortgage contingency and the deadline to secure a loan commitment. Some developers offer preferred lenders, credits, or rate incentives. Since closing can be one to three years after reservation, plan for interest‑rate risk and discuss locking strategies with your lender. If you plan to use agency or government financing, confirm the project’s eligibility early using programs like Fannie Mae condo project eligibility or FHA condominium requirements through HUD.
Step 5: Monitor construction
During construction, you will receive updates on milestones and anticipated delivery windows. Track notices about additional deposit stages and any design center deadlines for finish selections. If you plan to assign the contract, confirm assignment rights, fees, and approval conditions in writing. Not all developers permit assignments.
Step 6: Prepare for pre‑closing
As completion nears, the developer or title company issues an estimated closing statement with your remaining balance, closing costs, and prorations. Schedule your final walkthrough and punch list. Some developers allow you to bring a professional inspector, while others handle inspections post‑closing. Clarify your inspection rights in the contract.
Step 7: Close and take occupancy
Closing occurs after the developer can convey title and, if applicable, after the certificate of occupancy is issued. If you are financing, your lender funds at closing. You will begin paying HOA assessments at closing or at turnover, as specified in the contract. Association control transitions from the developer to owners at a defined stage. Keep records of warranties and post‑closing service procedures.
Deposits, escrow, and refundability
In Aventura, it is common to see a reservation deposit followed by contract deposits held in escrow with a title company or law firm. Whether a deposit is refundable depends on the exact contract language and any contingencies. Your attorney should confirm when deposits become nonrefundable, what events trigger forfeiture, and the remedies if the developer misses material milestones.
Financing a condo in a new project
You do not take a construction loan for your unit. The developer handles the building financing. You secure permanent financing for closing when the building is complete. Lenders evaluate both you and the condo project. Project eligibility can turn on owner‑occupancy ratios, reserve funding, insurance, litigation, and rental policies. If you expect to use conforming or government‑backed loans, confirm qualification early with your lender using resources like Fannie Mae’s condo project guidance or FHA’s condominium requirements.
Closing costs, taxes, and Miami‑Dade specifics
Florida does not have a state income tax, but you should budget for standard closing items like title insurance, recording and documentary stamp fees, attorney and escrow fees, and prepaid items for taxes and HOA dues. Rates for documentary stamps and recording vary by county, so ask your title company for a current estimate or consult the Miami‑Dade Tax Collector.
Property taxes for new construction are assessed at market value. If the unit will be your primary residence, you may qualify for a homestead exemption after closing, which can reduce future taxes. For a deeper look at valuations and parcel data, the Miami‑Dade Property Appraiser provides official property records and assessment information.
Insurance and warranties
During construction, builder’s risk covers the building. At closing, you will need an HO‑6 or similar condo unit policy for interior elements and contents, consistent with the condo declaration. Florida developers typically provide a mix of contractual and statutory warranties that cover finishes, systems, and structural components for specified periods. Review the warranty schedule in your contract and note how to submit service requests. For broader legal context, see the Florida Condominium Act.
Due diligence: documents to review early
Strong due diligence is your best risk control. Ask for and review, with your attorney, the following:
- Draft purchase contract and all riders or addenda.
- Draft condominium declaration, bylaws, articles, and rules.
- Estimated HOA budget, any initial reserve study or pro forma, and insurance summary.
- Unit plans, parking and storage assignments, and common element maps.
- Construction schedule and anticipated certificate of occupancy timing.
- Warranty program details for the unit and common areas.
- Title commitment and any existing liens or lender relationships.
Check the developer and the team
Research the developer’s track record in South Florida, including on‑time delivery and any litigation history. Identify the general contractor, architect, and construction lender. Major changes in these parties during construction can be a red flag. Verify presale levels and whether construction financing depends on achieving certain presale thresholds.
Contract clauses to watch
A few sections deserve close attention:
- Closing and occupancy triggers, plus any developer rights to extend.
- Exact deposit amounts, dates, and the events that make deposits nonrefundable.
- Assignment policy, fees, and conditions if you plan to transfer the contract.
- Rental and leasing rules, including any short‑term rental prohibitions or caps.
- Remedies and dispute resolution procedures, such as arbitration requirements.
Common red flags
Be cautious if you see a lack of clear permit and certificate of occupancy schedules, repeated unexplained delays, minimal warranty detail, refusal to provide draft condo documents, unusually high special assessment risk without transparent reserves, or a high concentration of developer‑held units at delivery.
Investor considerations in Aventura
For investors, rules and numbers decide outcomes. Verify leasing caps, minimum lease terms, and any waiting periods in the declaration. Confirm HOA fees, projected operating costs, and reserve funding plans to gauge cash flow. Ask about assignment rights if you anticipate selling the contract prior to closing. Finally, confirm project eligibility with your lender if you plan to use agency or government financing.
Your quick buyer checklist
Use this to move from interest to contract with clarity:
- Get lender pre‑qualification and map out staged deposit funding.
- Collect the sales brochure, floor plans, price sheet, and reservation form.
- Have your attorney review the developer contract and riders before signing.
- Request draft condo declaration, bylaws, rules, and the budget with reserves.
- Ask for insurance summaries, warranty terms, and a construction timeline.
- Confirm rental policies, parking and storage allocations, and any upgrade credits.
- Ask for presale percentage, construction lender identity, and anticipated certificate of occupancy date.
- Clarify assignment policy, developer incentives, and mortgage contingency terms.
- Schedule a third‑party walkthrough inspection if allowed by the contract.
A simple timeline to expect
Here is a common sequence you can use to plan, though each project differs:
- Day 0: Place a reservation deposit to hold your unit.
- Day 7–30: Sign the purchase contract and fund the initial escrow deposit.
- Months 1–36+: Construction period with periodic deposit milestones and updates.
- 60–90 days before completion: Secure your conditional loan commitment and finalize lender conditions.
- 30–0 days before closing: Receive the final closing estimate and complete your walkthrough and punch list.
- Closing day: Title transfers and funds are disbursed. Occupancy begins per the certificate of occupancy and contract terms.
Work with a local, senior advisory team
Pre‑construction success in Aventura comes from careful selection, disciplined contract review, and proactive financing. You deserve guidance from experts who know the buildings, the documents, and the local approval process. If you are ready to evaluate Aventura’s newest offerings or want a second opinion on a contract, connect with Brosda and Bentley Realtors for boutique, founder‑led representation backed by full‑life‑cycle investor services. Schedule a Private Luxury Consultation.
FAQs
Can I cancel a developer contract in Aventura?
- It depends on the contract and any statutory rights. Developer contracts often limit remedies, so ask your Florida attorney about rescission windows and contingencies before you sign.
Are pre‑construction deposits refundable in Florida?
- Refundability is contract specific. Deposits often become nonrefundable after set milestones. Your attorney should confirm deposit triggers and any financing or inspection contingencies.
How do condo project rules affect financing?
- Lenders review the project’s eligibility, including reserves, insurance, litigation, and rental policies. Confirm early with your lender and reference programs like Fannie Mae and FHA.
Can I rent my Aventura condo immediately after closing?
- Only if the condo declaration and local ordinances allow it. Many buildings have minimum lease terms or waiting periods, so review the draft rules before committing.
What closing costs should I expect in Miami‑Dade?
- Typical items include title insurance, doc stamps, recording fees, escrow and attorney fees, and prepaid taxes and HOA dues. For current fee guidance, consult your title company and the Miami‑Dade Tax Collector.
Do I need a certificate of occupancy before moving in?
- Yes, closings and occupancy generally follow the certificate of occupancy and your contract’s delivery provisions. The developer or title company will coordinate timing.
