Pre-construction condo or freehold townhome? How to choose
By Dinesh Jindal, licensed REALTOR® · Reviewed November 2026
Both can be a good first purchase or investment. The difference is in cash flow, timeline and what you own.
| Condo | Freehold town / detached | |
|---|---|---|
| Typical deposit | 15% to 20% spread over 1 to 2 years | 10% to 20%, often over a shorter period |
| Timeline | 4 to 6 years for high-rise | 1 to 3 years |
| Cooling-off | 10 days by law | None |
| Monthly fees | Maintenance fees | None, unless POTL or common-element |
| Interim occupancy | Yes | No |
| Ownership | Unit + share of common elements | Land and house |
Choose a condo if
- You want a lower entry price and a longer deposit runway.
- Location near transit and downtown matters more than space.
Choose freehold if
- You want land, more space and no maintenance fees.
- You can manage a faster deposit schedule and closing.
Dinesh shows both side by side for your budget. Browse projects · Book a call
Quick answers
Do freehold homes need a bigger deposit?
Often a similar 10% to 20%, but on a higher price, and freehold schedules are usually shorter, so more cash is needed sooner.
Do freehold homes have maintenance fees?
True freehold homes do not. Some new townhome communities are POTLs (parcels of tied land) or common-element condos with a monthly fee for shared roads or landscaping.
Which closes faster?
Freehold homes usually close sooner, often 1 to 3 years after launch. High-rise condos often take 4 to 6 years and include an interim occupancy period.
General information, not legal, tax or financial advice. Programs, limits and rebates change; confirm current rules with Dinesh Jindal, your real estate lawyer and your mortgage professional before you sign.