09/21/2026
I think some important changes are being considered in the pre-construction buying process.
On September 18, TRREB raised the issue of greater transparency around development charges when purchasing new housing.
TRREB is proposing that development charges be clearly disclosed directly in the Agreement of Purchase and Sale, rather than being buried in schedules and additional documents.
Anyone who has gone through the purchase of a new condo or home knows that the price you see advertised is often far from the final amount.
At closing, there can be additional adjustments, fees and other charges, and sometimes buyers do not fully understand the final cost until much later in the process.
Ontario is already introducing new documentation requirements for buyers of new homes starting January 1, 2027. More specific disclosure of development charges is still under discussion.
The idea behind these changes is simple:
buyers should understand the full cost of the purchase — not just the purchase price.
Before signing, it is important to know:
✔ what additional costs may be due at closing
✔ which charges are capped and which are not
✔ what is included in the adjustments
✔ how much money will actually be required at closing
In my view, the more transparent these costs are from the beginning, the more confidently buyers can make their decision.
