One of the first questions serious new-construction buyers ask — and one that's surprisingly hard to get a straight answer to — is how much deposit is actually required, and when it's due. The honest answer is: it depends entirely on the developer, and it's worth understanding the structure before falling in love with a specific residence.
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Why Deposit Structures Vary
Unlike a resale transaction, where earnest money is a small, fairly standardized amount, new-construction deposits fund a large share of what the developer needs to finance construction before the building exists. Florida developers structure these differently — some front-load the deposit at contract signing, others spread it across construction milestones. Both approaches can total the same overall percentage of the purchase price while asking for very different cash flow from the buyer.
Three Current Examples, Compared
Fort Lauderdale Project A
20% at contract, 5% at amenity deck pour, 5% at structural top-off — 30% total, largest payment due at signing.
Fort Lauderdale Project B
10% at contract, 10% at 120 days, 10% at groundbreaking, 10% at top-off — 40% total, spread evenly, balance at closing.
Project C (older document)
15% at contract, 15% at groundbreaking, 10% at top-off, balance at closing — 40% total. Source is over a year old — reconfirm before relying on it.
Total percentage isn't the only variable that matters — a 20%-at-contract structure requires materially more cash on day one than a 10%-at-contract structure with the same overall total, even though both cost the buyer the same amount eventually.
What This Means for a Buyer's Planning
A few things are worth confirming before getting attached to a specific residence: the total deposit percentage, how it's broken into milestones, what triggers each milestone (a calendar date versus a construction event, which can shift), and how current the developer's documentation actually is — deposit schedules do get revised as a project moves through its sales cycle, sometimes more than once.
“Deposit schedules are exactly the kind of detail that's easy to misread from a static price sheet and easy to get a straight, current answer to in a five-minute conversation. Every figure here reflects a specific developer document as of a specific date — which is exactly why it's worth confirming current terms directly before signing anything.”
-Andy
Frequently Asked Questions
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Is a new construction deposit refundable?
This varies by developer and by state contract law, and is spelled out in the purchase contract itself — always confirm the specific refund and rescission terms in writing before signing, rather than assuming a standard policy applies. -
Do all Florida new construction projects use the same deposit percentage?
No — total deposit percentages in the examples above range from 30% to 40%, and the number of milestones and their triggers vary by developer as well. -
When during the buying process should I ask about the deposit schedule?
Before touring, if possible, and certainly before making an offer — it directly affects cash-flow planning and is one of the easier things to get a current, accurate answer to early in the process. -
Can deposit terms be negotiated?
Occasionally, particularly earlier in a project's sales cycle or during active incentive periods — this is worth asking about directly rather than assuming the published schedule is fixed.
See how these deposit structures apply to a specific Fort Lauderdale residence: Ombelle, Viceroy Residence or St. Regis.
