A buyer's guide to new condo developments in LA

Buying a brand-new condo — sometimes before it’s even built — is a different process from purchasing a resale. Done right, it can mean getting first pick of units and finishes. Done carelessly, it carries real risks.

Pre-construction pricing

Developers often release units in phases, with early buyers getting lower prices in exchange for taking on timeline risk. Understand the deposit structure (frequently paid in installments) and what happens to your money if the project is delayed or cancelled.

Timelines and change

New-construction timelines slip. Contracts should spell out estimated delivery, your rights if it’s late, and how much finishes or floor plans can change before closing.

The upside of buying new is being first; the discipline is reading the contract as carefully as you tour the model.

Because you’re often buying from renderings, representation matters. An advisor who knows the developer’s track record and the building’s HOA-to-be can help you buy with confidence.