Pre-Construction Condos in Fort Lauderdale: What Buyers Need to Know in 2026

Pre-construction condos are one of the most talked-about opportunities in South Florida real estate — and one of the most misunderstood. I work with buyers at every stage of the pre-construction process, from initial reservations to closing on completed units, and I want to give you an honest picture of what this market actually looks like in 2026.

Pre-construction (also called "pre-sale" or "off-plan") means you are purchasing a condo unit before the building is complete — sometimes before construction has even broken ground. You are buying based on floor plans, renderings, model units, and the developer's track record.

The appeal is straightforward: you lock in today's price for a unit that will be delivered in 1–3 years, potentially at a higher market value. The risk is equally straightforward: a lot can change between contract signing and closing.

Fort Lauderdale has seen a significant wave of luxury condo development over the past several years, driven by migration from high-tax states, international buyer demand, and a shortage of quality resale inventory.

Several notable projects are currently in various stages of pre-sale and construction:

Downtown / Las Olas corridor: Multiple high-rise towers targeting the luxury and ultra-luxury buyer, with units ranging from $800,000 to $5 million+. Amenities competing with five-star hotels — rooftop pools, concierge services, private dining, and marina access.

Flagler Village: A more urban, arts-district feel. Boutique mid-rise buildings attracting younger buyers and investors. Price points generally more accessible, starting in the $500,000s.

Waterfront locations: Projects with Intracoastal or ocean frontage command significant premiums. These sell quickly and often have waitlists for preferred units.

Pompano Beach and Deerfield Beach: Just north of Fort Lauderdale, these markets offer newer inventory at slightly lower price points with strong appreciation potential.

Understanding the mechanics is essential before you sign anything.

Pre-construction purchases typically require staged deposits rather than a single down payment:

• Reservation deposit: $5,000–$25,000 to hold a unit while the contract is prepared (often refundable)
• Contract deposit: 10–20% of the purchase price due at contract signing
• Additional deposits: Many developers require additional installments (another 10–20%) at construction milestones — groundbreaking, top-off, etc.
• Balance at closing: The remaining purchase price, typically financed or paid in cash

Important: Your deposits are typically held in escrow, but the terms governing those funds vary by developer. Florida law provides some protections, but reading the contract carefully is non-negotiable.

Developer contracts are written by the developer's attorneys — in the developer's favor. Key things to watch for:

• Right to modify: Developers often retain the right to change unit layouts, finishes, and amenities within certain parameters. Understand what is guaranteed vs. what can change.
• Delivery timeline: Contracts typically include an outside closing date, but delays are common. Know what happens if the project is delayed 6, 12, or 24 months.
• Assignment rights: Can you sell your contract before closing? Some developers prohibit or restrict assignment, which limits your exit options.
• Cancellation rights: Florida's Condominium Act gives buyers a 15-day rescission period after receiving the condo documents. After that, your ability to cancel is limited.
• Financing contingency: Most developer contracts do not include a financing contingency. If you cannot secure a mortgage at closing, you may forfeit your deposit.

I always recommend having a real estate attorney review any pre-construction contract before you sign.

Financing a pre-construction purchase is more complex than a standard mortgage:

• Most lenders will not issue a mortgage commitment until the building is near completion
• Interest rates at the time of your original contract may be very different from rates at closing
• Some buyers use bridge financing or portfolio loans
• International buyers and foreign nationals have additional considerations — I work with lenders who specialize in this

I believe in giving buyers a complete picture. Here are the real risks:

Market shift: If the market softens between your contract date and closing, your unit may appraise below the contract price. You would need to cover the difference in cash or renegotiate with the developer.

Construction delays: South Florida construction has faced supply chain and labor challenges. A project scheduled to deliver in 2025 may deliver in 2026 or 2027. This affects your plans and your financing.

Developer financial issues: In rare cases, developers run into financial trouble. Florida's escrow requirements provide some protection, but not complete protection.

Finish quality: Renderings are aspirational. The actual finishes, views, and unit quality may differ from what was presented. Visit the sales gallery, ask for material samples, and get specifics in writing.

HOA fees and special assessments: New buildings often have lower HOA fees initially, which can increase significantly as the building ages and reserves are funded. Ask for the projected budget.

With the risks clearly stated, here is why many of my clients choose pre-construction:

Price appreciation potential: Buying early in a project's sales cycle often means a lower price than what the same unit will sell for at completion. In a rising market, this spread can be significant.

Customization: Many developers allow buyers to select finishes, flooring, and upgrades during the design phase — something impossible with resale.

Brand-new everything: No deferred maintenance, no aging systems, no previous owner's choices to undo. Everything is under warranty.

Modern amenities: New construction buildings are designed for today's lifestyle — co-working spaces, resort-style pools, EV charging, smart home technology.

Investment appeal: For buyers purchasing as an investment, a new building with strong amenities and a recognizable brand can command premium rental rates.

Before signing any pre-construction contract, I walk my clients through these questions:

1. What is the developer's track record? Have they delivered comparable projects on time and on budget?
2. What percentage of units are sold? (Higher pre-sale percentage = lower developer risk)
3. What are the HOA fees projected to be at delivery?
4. Are there rental restrictions? Minimum lease terms?
5. What is the parking situation? Is a parking space included or extra?
6. What are the pet policies?
7. Is there a right of first refusal for the developer if I want to sell?
8. What happens to my deposit if the project is cancelled?

Here is something many buyers do not know: using a buyer's agent on a pre-construction purchase costs you nothing extra. The developer pays the agent's commission. Having representation means someone is reviewing the contract on your behalf, negotiating upgrades or incentives, and advocating for your interests throughout the process.

I have relationships with the sales teams at Fort Lauderdale's major pre-construction projects. That means I can often get my clients early access to inventory, preferred unit selection, and sometimes developer incentives that are not publicly advertised.

The Fort Lauderdale pre-construction market moves quickly. The best units in the best projects sell early — often before the general public even knows the project exists.

I'm Matilde Leyva, a luxury real estate agent at Douglas Elliman in Fort Lauderdale. Call or text me at (561) 643-2611, or schedule a consultation to discuss which projects align with your goals, timeline, and budget. Whether you are buying for lifestyle or investment, I will make sure you go in with eyes open.

• Fort Lauderdale Waterfront Condo Guide — Resale vs. pre-construction waterfront options
• Fort Lauderdale Investment Property Guide — How pre-construction fits into an investment strategy
• Boca Raton Luxury Real Estate Guide — New construction opportunities in Boca
• Foreign Buyer Guide to Florida Real Estate — How international buyers can purchase pre-construction
• South Florida Real Estate Market Report — Current market conditions and pricing trends

Interested in pre-construction? View current new developments or contact Matilde to discuss which projects are right for you.