Pre-construction · Richmond Hill
Pre-Construction Condos in Richmond Hill
Richmond Hill has 69 new condo projects on Summitly — 69 launching or taking registrations.
Coldwell Banker Summit Realty, BrokerageLast updated
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- 69
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New condos in Richmond Hill
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64 Major Mackenzie Drive East, 119 Church Street South, 115 Church Street South, 72 Major Mackenzie Drive East
Richmond Hill
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Deposit calculator
What you pay, and when
You don’t pay it all at once. Pick a price and a typical structure.
20% in total, paid in 5 payments before you close.
Total deposit before you close
$120,000
Balance at closing (mortgage + cash)
$480,000
| Payment | When | Rule | On $600,000 |
|---|---|---|---|
| On signing | On signing | $5,000 | $5,000 |
| Balance to 5% | 30 daysDec 15, 2026 | Balance to 5% | $25,000 |
| 5% | 120 daysMar 15, 2027 | 5% | $30,000 |
| 5% | 365 daysNov 15, 2027 | 5% | $30,000 |
| 5% | 540 daysMay 8, 2028 | 5% | $30,000 |
| Total (20%) | $120,000 | ||
Deposits on new Ontario homes are held in trust and protected by Tarion up to set limits; condo deposits are also protected under the Condominium Act. Your agreement of purchase and sale sets the exact amounts and dates.
These are typical shapes, not any builder’s offer; each project page uses the builder’s own schedule. Before closing you may also owe development charges and levies.
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Questions
Richmond Hill pre-construction FAQs
Still unsure? Call (905) 553-8500. An advisor answers. Not legal or tax advice.
How many new condos are there in Richmond Hill?
Summitly lists 69 new condo projects in Richmond Hill: from 3 builders. The count updates as builders release new projects.
How much do new condos in Richmond Hill cost?
Prices for new condos in Richmond Hill are set by each builder and vary by suite size and release phase. Each project page shows the builder's published starting price once it is released.
How do pre-construction deposits work in Richmond Hill?
Deposits on a new Ontario condo must be held in trust (Condominium Act, 1998, s. 81) and are paid in stages set out in the Agreement of Purchase and Sale, not all at signing. Each project page shows the builder's deposit structure where it has been released.
Can I cancel a pre-construction condo purchase in Richmond Hill?
Yes, for a new condo. Under section 73 of Ontario's Condominium Act, 1998, a buyer can cancel within 10 days of receiving both the signed agreement and the disclosure statement, and the deposit is refunded in full. Freehold homes have no statutory cooling-off period.
What warranty comes with a new home in Richmond Hill?
Every new home in Ontario carries the statutory Tarion warranty: 1 year for workmanship and materials, 2 years for water penetration and major systems, and 7 years for major structural defects. Builders must be licensed by the Home Construction Regulatory Authority (HCRA).
Can I buy or sell a pre-construction assignment in Richmond Hill?
Yes. An assignment transfers a buyer's pre-construction contract to a new buyer before closing, usually with the builder's written consent and an assignment fee set in the agreement. Summitly lists Richmond Hill assignments and helps owners sell theirs.
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Summitly is a brokerage, not the builder; prices, incentives and availability are set by the builder and can change.
Prices, sizes, specifications, incentives and availability are preliminary and subject to change without notice. Renderings and floor plans are artist’s concepts. This is not an offering for sale; any offering can only be made with the builder’s disclosure statement. E. & O.E.
Coldwell Banker Summit Realty, Brokerage · Broker of Record Waqar Afzal · © 2026 Summitly.
