Author: Cynthia Joannou, Broker/Associate, Barefoot Beach Properties
Updated: August 2026
I started my real estate career in 1999 with Naples’ largest luxury condominium developer at that time. I wasn’t just selling property—I was learning how luxury condominium developments are built, priced, marketed and negotiated.
Later, I transitioned into on-site pre-construction sales. That experience gave me an insider’s perspective that most buyers never get.
One lesson has stayed with me for more than 25 years: There is almost always room to negotiate. The challenge is knowing what to ask for — and when.
Whether you’re relocating to Florida, building a legacy portfolio, purchasing a beachfront residence, or investing through a family office, asking the right questions before signing a pre-construction contract can protect your capital and improve your long-term investment.
TL;DR
If you’re buying Florida pre-construction luxury real estate:
- Research the developer and the GC — not just the building.
- Ask about “incentives” before making an offer.
- Have a Florida real estate attorney review the developer’s contract and condo docs before even signing a reservation agreement.
- Understand every cost beyond the headline purchase price, the deposit schedule and what part of your deposit the developer gets to use.
- Find out who will own the amenities, the developer or the condo owners association.
- Verify projected condo association and HOA expenses, post-turnover reserve requirements, building insurance, developer initial subsidies of amenity expenses and future assessments.
- Confirm independently whether your view can ever be blocked.
- Never assume the sales brochure tells the whole story.
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The Questions Every Luxury Buyer Should Ask
1. Who Is the Developer?
A beautiful brochure doesn’t guarantee successful completion.
Ask:
- What luxury projects have they completed?
- Were previous developments delivered on time?
- Have there been significant construction defect claims or litigation?
- Who is the architect and the general contractor?
- How many residences have already been reserved / under contract / closed?
- How do current list prices differ from the original offer memorandum?
Past performance doesn’t guarantee future results—but it often reveals patterns. Also, developer don’t build high rises, general contractor do.
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2. What Does the Purchase Price Actually Include?
Luxury pricing isn’t always all-inclusive.
Clarify whether the price includes:
- Parking
- Storage
- Club memberships
- Designer finish packages
- Appliance upgrades
- Technology packages
- Closing costs
Many buyers are surprised by additional expenses that weren’t part of the advertised pricing.
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3. Is There Room to Negotiate?
This is the question many buyers never ask.
Developers may be reluctant to reduce published pricing because it affects future sales and appraisals. Instead, they may offer “incentives” such as:
- Closing cost credits
- Upgrade allowances
- Premium parking
- Extra storage units
- Club memberships or club fee discounts
- Flexible deposit schedules
- Preferred financing incentives
I’ve seen buyers save substantial amounts on extras simply because they asked.
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4. Understand the Deposit Schedule
Know exactly:
- How much is due today
- Future payment deadlines
- Whether all deposits remain in escrow
- When refunds may be available
- What happens if construction is delayed or never started
While Florida law may have provisions regarding condominium pre-construction deposits, contract terms matter. Your attorney should explain how the specific developer’s agreement works.
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5. Read the Contract and Condo Docs — Every Page
Developer contracts are drafted primarily to protect the developer.
Before signing, ask your attorney:
- Can floor plans change?
- Can finishes be substituted?
- What happens if completion is delayed?
- What warranties will be provided and by whom?
- What is the rescission period?
- Are cancellation rights clearly defined?
- Is the parking deeded?
- Is beach access deeded?
Never rely solely on marketing materials.
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6. Understand Your Future Condo Owners Association and HOA
Luxury amenities come with ongoing operating costs.
Ask:
- What are the projected condo and HOA fees?
- What services or HOA fees are included?
- Will fees likely increase after turnover from the developer to the association?
- Who will own the amenities after turnover?
- Will the developer continue to control the HOA even after turnover of the building to the condo association?
- What are the plans for future buildings and will they share the same amenities?
- How will post-turnover reserve requirements affect future condo fees?
- Are special assessments anticipated to complete advertised yet unfinished amenities?
- Have all advertised amenities been permitted by the local authorities?
Projected monthly dues rarely remain the same after turnover.
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7. Verify the View
This sounds simple—but it can become one of the most expensive surprises.
Questions include:
- Which direction does the residence face?
- What are the plans for future buildings?
- Can future construction block the view?
- Are nearby parcels already entitled for future development?
- Can the adjacent nature “preserve” area be re-zoned?
- Who owns the air rights over the adjacent properties?
- Will it require a special permit to trim the mangroves?
A panoramic Gulf view today doesn’t necessarily guarantee the same view tomorrow.
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8. Know the Condo & HOA Association Rules & Regulations
Especially if you’re purchasing as an investment.
Ask:
- Are rentals permitted?
- Minimum rental period?
- Maximum number of rentals per year?
- Are there local governmental restrictions on ‘short-term’ rentals?
- Occupancy / use restrictions?
- Assignment restrictions?
- Pet policies?
- Move-in fees?
- Lease approval fees?
Rules and use restrictions can significantly affect future resale value and investment flexibility.
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9. Luxury-Condo Specific Questions Worth Asking
Above the $5 million price point buyers should also ask:
- Is private elevator access included?
- Is there a separate service elevator for each stack?
- What concierge services are guaranteed?
- Is valet available?
- Is security staffed 24/7?
- Will the building staff perform or arrange regular scheduled maintenance of the HVAC systems?
- What smart-home technology is standard?
- Are marina slips available? Included?
These details often distinguish exceptional luxury developments from average ones.
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10. Build the Right Team
No matter how many properties you have purchased in the past, don’t buy alone.
Your advisory team should include:
- A luxury real estate advisor experienced in Florida pre-construction product
- A Florida real estate attorney
- A lender familiar with condominium financing (if applicable)
- Tax and estate planning advisors, when purchasing through trusts, LLCs, or family offices, particularly when the goal is to establish Florida domicile and to homestead the property.
The right professionals often identify risks before they become expensive mistakes.
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My Perspective After 25 Years
The most successful luxury buyers aren’t always the ones who negotiate the lowest headline price.
They’re the buyers who ask better questions.
In today’s Florida luxury market, information is leverage.
The more informed you are before signing, the more confident your decision will be.
That’s something every sophisticated buyer should strive for.
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Frequently Asked Questions
Is pre-construction negotiable in Florida?
Yes. While developers may not publicly reduce prices, incentives such as upgrades, closing cost credits, premium parking, storage, or financing incentives may be available depending on local market conditions.
Should a Florida real estate attorney review my contract?
Absolutely. Developer contracts can differ significantly from resale contracts, and only an attorney can explain important legal rights, obligations, deadlines, and risks.
What are the biggest risks when buying pre-construction?
Project is delayed or even cancelled, deposits are lost, construction defects, changes to floor plans, finishes or amenities, rising condo and HOA fees, future assessments, and market fluctuations.
Are Condo or HOA fees fixed?
No. Initial estimates can change after turnover depending on building and amenities operating and insurance expenses, reserve funding, and maintenance requirements.
Can I assign my contract before closing?
Possibly. Assignment rights vary by developer and contract. Some projects permit assignments while others restrict or prohibit them. Either way you remain liable for your obligations under the contract.
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Final Thoughts
Luxury real estate isn’t simply about buying an exceptional residence—it’s about making an informed decision that aligns with your financial goals, lifestyle, and long-term plans.
Asking better questions today can help you avoid costly surprises tomorrow.
If you’re considering buying pre-construction in Naples, Bonita Springs, Estero, Marco Island, Sarasota, or anywhere along Florida’s Gulf Coast, I’d be happy to share the insights I’ve gained from more than two decades in luxury real estate.
Contact me to discuss current opportunities, market trends, and available developer incentives before you make your next move.
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