Buying a new freehold house versus a new condo
Doorvia Guides · June 28, 2026
New houses close once and start your mortgage immediately; new condos add interim occupancy and two closings.
A newly built freehold house has one closing. You take title, your mortgage begins, and you own the land. There is no occupancy fee and no condominium corporation, though a common element fee can apply in some townhome developments.
A new condominium has interim occupancy first, then final closing after registration, with occupancy fees in between and monthly maintenance fees afterward.
The statutory protections also differ. New condominium buyers get the 10-day rescission right under the Condominium Act; new freehold purchasers generally do not, although both benefit from the Tarion warranty and licensed-builder requirements. Read your agreement's critical dates either way.
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