Pre-construction or move-in-ready? Compare your Miami options.

Pre-construction generally means buying before completion under a developer contract. Move-in-ready means more than a finished façade or furnished model: confirm the specific residence’s condition, required occupancy approvals, title, utilities, building access, financing eligibility and agreed closing terms.

These are not simply “new” versus “old.” A newly completed developer residence can be move-in-ready; a resale can need extensive work. A completed unit offered decorator-ready may still need flooring, lighting or other work before it fits your plans.

MIAMI REALTORS® + RWorld reports 11,706 active existing-condo listings in September 2026 versus 12,620 a year earlier, and 12.3 months of supply. The decline is 914 listings, approximately 7.24%.

The totals largely exclude new construction not reported in the MLS. They provide context—not developer inventory, a project valuation or evidence of a specific discount.

Here is an all-cash $1 million illustration: 20% at contract, 10% at one construction milestone, 10% at another and 60% at closing. The milestones are placeholders with no promised dates. Before closing, $400,000 has been paid toward the price; $600,000 remains. The graph shows each payment, not cumulative payments.

Staging payments changes liquidity, not the $1 million contract price. In a hypothetical completed all-cash purchase with a 10% contract deposit, $100,000 would be paid at contract and $900,000 at closing, excluding transaction costs. The actual deposit and time between those events are negotiable or contractual, not a universal rule.

If you borrow, replace the closing balance with your lender’s actual cash-to-close calculation after crediting deposits and accounting for loan proceeds, fees and reserves. A developer deposit schedule is not the same as a mortgage down payment. Read the deposit guide before comparing the two.

Also budget for accommodation while waiting and liquidity tied up in deposits. For scale only, $300,000 unavailable for two years at an assumed 5% simple annual opportunity cost equals $30,000, before taxes and without compounding. That is sensitivity arithmetic, not an available deposit return or a prediction.

For pre-construction, review the developer’s offering materials, the estimated budget, the unit specifications and your contract’s completion, extension, cancellation, assignment and deposit provisions with your attorney. Florida developer-disclosure framework ↗

For a completed condo, inspect the actual residence and review current association finances, insurance, assessments and applicable inspection and reserve information. DBPR explains reserve studies ↗ New construction does not eliminate ownership expenses, and building age alone does not establish the financial health of an association.

In either case, have the lender review the buyer and the building. A personal loan preapproval does not promise that a particular condo will qualify. Compare the full ownership budget, not just a purchase price or rendering.

Pre-construction may fit if you can tolerate uncertainty around delivery, have funds for the actual deposit schedule and value the particular residence concept. A completed home may fit if inspecting the actual space and arranging earlier use matter more. Neither category guarantees appreciation, income or a better purchase price.

Give Diego three useful inputs: your latest acceptable move date, your available purchase budget and whether the home is for personal use, rental use or both. Then compare specific residences with current written terms.