Updated 2026-10-16 · By CondoCircle
The deposit schedule for current Vicinity releases has not been released to us for publication. Rather than guess, this guide lays out the cost categories every new-home buyer in Ontario should budget for, and the questions that make the real numbers visible.
How deposits usually work
Low-rise new homes typically require an initial deposit on signing with one or more further deposits over the following weeks or months. Amounts and timing are release-specific. Ask for the schedule in writing, along with how deposits are held and protected.
Budget categories
| Category | When it's paid | Notes |
|---|---|---|
| Deposits | Signing and scheduled dates | Release-specific |
| Upgrades and décor | Often at décor selection | Some require payment up front |
| Land transfer tax | On closing | First-time buyer refunds may apply; confirm eligibility |
| Closing adjustments | On closing | Utility connections, Tarion enrolment, others per agreement |
| Legal fees and title insurance | On closing | Get a quote before signing |
| Rebate shortfall | On closing | Only if a rebate assumed in the price doesn't apply |
| Moving, window coverings, appliances | After closing | Easy to underestimate |
Agreement review
Have an Ontario real estate lawyer review the agreement of purchase and sale, the schedules and the Tarion addendum. Ask how long you have to review, what conditions you can include, and how closing-date extensions are handled.
Building a cash plan
Map every payment on a calendar: deposits, any décor payments, and estimated closing funds. Then match each to its source — savings, FHSA or RRSP withdrawals, or gifted funds — and confirm with your lender which sources it will accept and what documentation it needs.
How new-home deposits typically work
New-construction deposits are usually paid in stages — an amount at signing, then further instalments on a schedule over the following months. The schedule is part of your agreement and varies by builder, product and release. Deposits on Ontario new homes have statutory protections, including Tarion deposit protection up to defined limits if the builder fails to complete.
Two practical points: first, the deposit schedule is often more negotiable than the price, especially for buyers who need time to move funds between accounts or programs. Second, every deposit date belongs in your calendar with a reminder — a missed instalment can put you in default of the agreement.
Mapping closing costs for a new build
Beyond the price, new-build closings typically include land transfer tax (with a first-time buyer rebate where eligible), legal fees, and builder adjustments — development charges, utility connections, Tarion enrollment and similar items. Some adjustments are capped in the agreement; uncapped items are the ones to ask about.
Closing cost checklist
- Land transfer tax, net of any rebate you qualify for
- Legal fees and disbursements
- Development charge adjustments — capped or not?
- Utility and meter hookup fees
- Tarion enrollment fee
- Appliances or window coverings not included in the price
- Moving and immediate setup costs
Questions for your lawyer
- Which adjustments are capped and which are not?
- What happens if the closing date moves?
- How are rebate assignments handled if I don't qualify?
- Are there restrictions on assignment or resale before closing?
- What does the Tarion addendum say about critical dates?
- Total estimated cash required on closing
Frequently asked questions
What is the deposit for Vicinity?
The current schedule hasn't been released to us for publication. Request it and we'll send the version for the release you're considering.
When will my home close?
Closing windows are release-specific and not published here. Your agreement and Tarion addendum set the dates and extension rules.
Are there closing costs on a new home?
Yes. Expect land transfer tax, legal fees and closing adjustments set out in the agreement. Ask for an estimate before you sign.
How much should I budget beyond the price?
It varies with the agreement's caps and your situation. Ask for the adjustment schedule with caps identified, and have your lawyer review it.
Are my deposits protected?
Ontario's statutory framework includes deposit protection administered by Tarion, up to defined limits. Read the warranty documents for your home.