Buying pre-construction (preventa) means purchasing a house or apartment before it is finished, sometimes before ground is even broken. It is very common in Querétaro, where new residential developments keep launching in areas such as Zibatá, Altozano, Juriquilla and El Refugio.
Pre-construction can be a good opportunity, but it also means waiting and trusting that the project will be delivered as promised. This guide explains how it works, what to check about the developer and the contract, and how to protect your money at each stage.
Why people buy pre-construction
Price is the most common reason: in many projects, early phases are offered below the price of a finished home, and list prices often rise as construction advances. Payment plans spread over the build are also typical, which lets you put the down payment together gradually.
Choice is another advantage: early on there are more options for location within the development, views, orientation, floor or finishes. And you receive a brand-new home with the developer's warranties. None of these benefits is guaranteed; they depend on the project, the market and each contract's terms.
Risks worth understanding
The main risk is late delivery or, in extreme cases, a project that is never completed. What is delivered may also differ from what was promised in size, finishes or amenities, or common areas may be finished well after the homes. That is why due diligence matters so much with pre-construction.
There is also a liquidity risk: during construction your money is committed, and it is not always easy to assign or sell your spot before handover. Check whether the contract allows an assignment of rights and on what terms.
What to check about the developer and project
Before reserving, do your research and ask for documents. A serious developer usually shares them readily:
- Track record: past projects delivered and their current condition; visit them if you can.
- Land ownership: a deed in the name of the developer or the project's trust.
- Municipal building permits, land-use approvals and, where applicable, the condominium regime.
- Plans, specifications, areas and finishes in writing.
- How funds are handled: whether payments go to a project account or trust.
- Construction schedule and estimated delivery date.
The reservation and the contract
Typically you first sign a reservation or letter of intent with an initial payment, then a purchase promise agreement or a conditional sale contract. Read carefully: what happens if you miss a payment, what happens if the developer delivers late, whether penalties apply to both sides, whether the reservation is refundable and when, and when and before which notary the deed will be signed.
Also make sure the contract describes the unit precisely: unit number, built area and land or common-area share, parking spaces, finishes and amenities. Anything not in writing is hard to claim later. If in doubt, consult a lawyer or notary before signing.
Payments during construction
Payment plans vary: some ask for a percentage down and the rest on delivery, others split payments into monthly installments during construction, and some offer discounts for paying cash. Make every payment by transfer or deposit to the account named in the contract and keep all receipts.
If you plan to use a mortgage or Infonavit for the final payment, confirm with the lender that you can draw it at the estimated delivery date and that the home will meet its requirements. Have a plan in case handover slips by a few months.
Pre-construction vs a finished home
A finished home can be visited, measured and inspected before you buy, and it can usually be deeded within a few weeks; in exchange, it tends to cost more and offers fewer ways to customize. Pre-construction lets you plan payments in stages and pick a better unit, but it demands patience and a careful review of the project. Compare both options in the same area using the price per square meter, and factor in the cost of waiting: the rent you will keep paying while the home is built is also part of the decision. If you are relocating, think about where you will live in the meantime and how flexible your move date is.
Following the build
Ask for progress reports, photos or scheduled site visits. Stay in touch with other buyers in the development: they often share useful information. If progress does not match the schedule, ask in writing and keep the answers.
Handover and deed
Before accepting the keys, inspect the home thoroughly: finishes, electrical and plumbing systems, doors and windows, waterproofing and utilities. Note any issues on a snag list and ask for them to be fixed within the warranty period. The deed is signed before a notary; from then on you pay property tax and, in a gated community, the HOA fee.
How we help
At Living Q we know Querétaro's pre-construction projects and help you compare them by location, progress, payment plan and price per square meter against finished homes in the same area. We support you from reservation to handover, and we recommend having the contract reviewed by a notary or lawyer.
Frequently asked questions
Is buying pre-construction safe?
It can be if you check the developer, the permits, land ownership and the contract. The risk is never zero; the main one is late delivery.
Is the reservation deposit refundable?
It depends on the document you sign. Ask before paying when it is refundable and get it in writing.
Can I pay for pre-construction with a mortgage?
Often the loan is drawn at completion for the final payment. During construction, payments are usually made from your own funds.
What if delivery is late?
The contract decides. Check whether it includes penalties for late delivery and a firm deadline.
General information, not legal or tax advice. For your specific case, consult a notary, lawyer or accountant.