Buying Pre-Construction in Palm Beach County: What Your Agent Should Tell You
Palm Beach County has more new development projects in the pipeline right now than at any point since 2006. Mr. C Residences, The Ritz-Carlton (two locations), The Berkeley, Forté Luxe, Olara, Nora House, Avenir — the list keeps growing.
The sales galleries are polished. The renderings are stunning. And the sales teams are very, very good at their jobs. That’s the part most buyers forget: the developer’s sales team works for the developer. Not you.
Pre-Construction vs. New Construction: Know the Difference
Pre-construction means the building hasn’t broken ground yet, or is still early in construction. You’re buying based on plans, renderings, and a deposit schedule. Delivery is typically 18-36 months out. Pricing is usually 10-15% lower than what the finished product will sell for — that’s the trade-off for the wait and the risk.
New construction means a completed or near-completed home or condo ready for move-in. What you see is what you get. No deposit schedule uncertainty, no construction delays.
Both have their advantages. But the risks are different, and you need to understand them going in.
The Deposit Structure
Most pre-construction condos in Palm Beach County follow a phased deposit schedule:
- Reservation deposit: $50,000 – $100,000 (refundable during the rescission period)
- Contract signing: 10% of purchase price
- At groundbreaking: 10% additional
- At topping off: 10% additional
- At closing: remaining balance
On a $3M unit, you’re putting up $600,000 in deposits over 12-18 months before you ever see the finished product. That money sits in escrow, but it’s committed.
What the Sales Team Won’t Emphasize
I’m not here to scare anyone off new developments — I think several of these projects are excellent. But there are things the sales team will gloss over:
Assignment restrictions. Most contracts limit or prohibit reselling your unit before closing. If your situation changes 12 months in, you may not be able to get out easily.
Specification changes. Developers reserve the right to make "substantially similar" substitutions on finishes, fixtures, and sometimes layout. Read the rider carefully.
HOA budget projections. The developer’s estimated HOA fees are just that — estimates. First-year budgets after turnover to the HOA board almost always go up. Budget 15-20% above the developer’s projection.
Closing timeline flexibility. "Estimated Q4 2028" can become Q2 2029. Construction delays happen. Your rate lock, your lease expiration, your kids’ school enrollment — all of that needs a buffer.
Developer incentives for using their preferred lender or title company. These can be legitimate savings or they can favor the developer’s timeline. Get independent quotes.
Why You Need Your Own Agent
The developer’s sales team will welcome you with or without an agent. They’ll be professional and informative. But they represent the seller.
Here’s what I do differently as your buyer’s agent in a new development transaction:
- Review the purchase agreement and rider line by line. These aren’t standard residential contracts. They’re developer-drafted documents that heavily favor the builder.
- Negotiate upgrades, closing cost credits, or HOA prepayments. Some builders won’t budge on base price but will negotiate on other terms, especially toward the end of a sales phase.
- Flag unfavorable clauses — like unlimited construction timeline extensions or broad specification substitution rights.
- Monitor construction progress and communicate any delays or changes that affect your timeline.
- Coordinate the inspection. Yes, even new construction gets inspected. I’ve found issues in brand-new units that would have cost tens of thousands to fix after closing.
And here’s the thing most buyers don’t realize: the builder pays my commission. Having your own agent costs you nothing out of pocket.
Current New Developments in Palm Beach County
Here’s what’s active right now:
| Development | Location | Starting Price | Status |
|---|---|---|---|
| Mr. C Residences | West Palm Beach | $1.7M | Pre-construction |
| Ritz-Carlton WPB | West Palm Beach | $3.1M | Pre-construction |
| Ritz-Carlton PBG | Palm Beach Gardens | $3M+ | Pre-construction |
| The Berkeley | West Palm Beach | $2M | Pre-construction |
| Forté Luxe | Jupiter | $3.975M | Pre-construction |
| Olara | West Palm Beach | $2.4M | Under construction |
| Nora House | West Palm Beach | $2M | Pre-sales |
| Avenir | Palm Beach Gardens | $500K+ | Active (multiple builders) |
Get Priority Access
I track every new development project in Palm Beach County from the moment plans get filed. That means you get pricing, floor plans, and reservation windows before they go public.
Whether you’re comparing towers in West Palm Beach or weighing a single-family home in Avenir against a condo in PBG, I’ll walk you through the details and make sure the contract protects your interests. Contact me for a no-pressure conversation about what’s available.
