Understanding the initial deposit requirements when buying a Toll Brothers new construction home can often be overwhelming and confusing. The breakdown below serves as a guide to what you should expect.
- 5% of the base price of the home design you select is due at closing.
- 5% of the home site premium
- 20% of any added structural upgrades or options. Generally at the time of contract.
- 20% of design center options. Generally done within 30-60 days after contract. Once you select all of your design center options, they will collect 20% as a deposit.
Here is a simple breakdown:
- $1,000,000 Base Price: $50,000 Deposit
- $10,000 Lot Premium: $5,000
- $100,000 Structural Options: $20,000
- $25,000 Design Center Options: $5,000
Total Required Deposit: $80,000
Please note that if you are purchasing the home utilizing a low down payment option like an FHA or VA loan you may be able to request a lower deposit. In one instance, I was able to negotiate my clients only pay 3.5% of the total sales price. It is not uncommon to also break up the deposit into multiple payments over time.
DO YOU HAVE MORE QUESTIONS ABOUT THE TOLL BROTHERS NEW CONSTRUCTION HOME BUYING PROCESS?
Each year, we represent at least 25 new construction buyers in the DC metro area. We work closely with local builders, especially Toll Brothers, and have the expertise and experience to help you navigate the process. If you are considering a Toll Brothers home, schedule a call with Khalil here to get your questions answered!
**Disclaimer** The information shared regarding the Toll Brother policies and processes are for informational purposes only, we do not in any way represent Toll Brothers nor do we receive any compensation for shared information.
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