Toll Brothers is a publicly traded home builder that sells new single-family homes, townhomes, and condominiums across the United States

Toll Brothers operates in over 20 states and builds homes in suburban and urban communities, typically in the mid-to-luxury price range. The company sells directly to buyers through its own sales offices and model homes — you do not purchase through a real estate agent. Each community has its own sales team, and the homes are built to order rather than sold as existing inventory.

If you are considering a Toll Brothers home, you are entering a contract with the builder directly. This means the builder handles the construction, financing coordination, and closing process. Understanding how this differs from buying an existing home or working with other builders will shape your timeline, costs, and what to expect at each stage.

Key Takeaways

  • Toll Brothers sells new construction homes built to your specifications in communities across multiple states, and you work directly with the builder's sales office, not a real estate agent.
  • The purchase price typically includes the lot and the home structure, but upgrades, landscaping, and certain finishes are often sold separately and can significantly increase your total cost.
  • Construction timelines vary by location and complexity but commonly range from 6 to 18 months from contract signing to closing.
  • Toll Brothers requires a deposit to hold your home and lock in the price, and this deposit is typically non-refundable if you cancel after a certain period.
  • The builder coordinates with lenders and can provide information about financing options, but you are responsible for securing your own mortgage and meeting the lender's requirements.

How the Purchase Process Works

When you visit a Toll Brothers community, a sales representative will show you model homes and available floor plans. You select a home design, choose your lot (if multiple are available), and decide on any upgrades or customizations. The sales office then prepares a purchase agreement that outlines the base price, included features, any upgrades you have selected, and the construction timeline.

Once you sign the purchase agreement, you typically submit a deposit — the amount varies by community and price point but is often 5 to 10 percent of the purchase price. This deposit is held in escrow and applied to your down payment at closing. If you cancel the contract after a specified period (often 10 to 14 days), you may forfeit the deposit, depending on the terms in your agreement.

After the contract is signed, Toll Brothers begins the permitting and construction process. You will receive periodic updates on construction progress, and most builders schedule a pre-closing walkthrough where you inspect the finished home and note any issues before the final closing date.

Understanding the Price and What Is Included

The advertised price of a Toll Brothers home typically covers the lot and the base structure with standard finishes. However, many buyers add upgrades — flooring, countertops, appliances, lighting fixtures, and exterior features — that are priced separately. These upgrades can add tens of thousands of dollars to the final price.

Landscaping, driveway finishing, and certain site work may also be optional and charged separately. Before you commit, ask the sales office for a detailed breakdown of what is included in the base price and what costs extra. Request a written estimate of any upgrades you are considering so you understand the total investment before signing.

Property taxes, homeowners association fees (if applicable), and builder warranties are separate from the purchase price. Ask about the builder's warranty coverage — most new home builders offer a limited warranty on structural components and systems, typically for one to two years.

Financing Your Toll Brothers Home

Toll Brothers does not lend money directly, but the builder works with preferred lenders and can connect you with mortgage options. You are responsible for securing your own financing and meeting your lender's requirements, which typically include a credit check, income verification, and a down payment of 10 to 20 percent or more.

Your lender will order an appraisal of the home once construction is underway or complete. If the appraised value is lower than your purchase price, your lender may reduce the loan amount, requiring you to cover the difference or renegotiate the price with the builder. This is a real risk in new construction, so discuss appraisal contingencies with your lender before you sign the purchase agreement.

The builder typically requires proof that you have been pre-approved for a mortgage before construction begins. If your financial situation changes or you cannot find financing, you may lose your deposit depending on the terms of your contract.

Construction Timeline and What to Expect

Construction timelines for Toll Brothers homes vary widely based on location, complexity, and current demand. A typical timeline ranges from 6 to 18 months from contract signing to closing, though some homes take longer if there are delays in permitting, supply chain issues, or weather.

You will receive a construction schedule from the sales office, but this is an estimate, not a may provide. Delays happen, and the builder is not always liable for them. Your purchase agreement will specify what happens if the builder cannot close by a certain date — some agreements allow you to cancel if the delay exceeds a set number of days, while others do not.

During construction, you may have limited access to the home site. Some builders allow periodic visits, while others restrict access for safety reasons. Ask the sales office about their policy on site visits and how they will keep you informed of progress.

Closing and What Happens After

At closing, you sign the final mortgage documents, pay your down payment and closing costs, and receive the keys to your home. Closing costs for new construction typically include loan origination fees, title insurance, appraisal fees, and property taxes — these are separate from the purchase price and can total 2 to 5 percent of the loan amount.

Before closing, you will do a final walkthrough to confirm the home is complete and matches the specifications in your purchase agreement. If there are incomplete items or defects, you can request a credit or ask the builder to complete the work before closing. Document any issues in writing.

After closing, you own the home outright and are responsible for maintenance, repairs, and property taxes. The builder's warranty covers certain defects for a limited time, so keep your warranty documentation and report any issues within the warranty period.

Common Mistakes to Avoid

One frequent mistake is not reading the purchase agreement carefully. These contracts are lengthy and contain terms about deposits, cancellation penalties, construction delays, and warranty coverage. Have an attorney review it before you sign, especially if you are unfamiliar with new construction contracts.

Another mistake is underestimating the total cost. The advertised price is the base price, and upgrades, closing costs, and homeowners association fees can push the final cost significantly higher. Get a detailed estimate of all costs before you commit.

Buyers also sometimes assume the builder will fix minor issues after closing. Document everything during the pre-closing walkthrough and request repairs in writing before you close. Once you own the home, the builder's obligation is limited to the warranty terms.

Frequently Asked Questions

Can I negotiate the price of a Toll Brothers home?

Negotiation is possible, especially if the home has been on the market for a while or if you are purchasing during a slower sales period. The sales office may offer incentives, price reductions, or upgrades at no cost. However, during high-demand periods, builders have less incentive to negotiate. Always ask what flexibility exists before you sign.

What happens if I need to cancel my contract?

Cancellation terms are spelled out in your purchase agreement. If you cancel within a short window (often 10 to 14 days), you may recover your deposit. After that period, the deposit is typically non-refundable. Some agreements allow cancellation for specific reasons, such as failure to obtain financing, but you will likely lose your deposit. Read the cancellation clause carefully.

Does Toll Brothers offer any warranty on the home?

Yes, Toll Brothers provides a limited warranty that typically covers structural defects and major systems for one to two years. The warranty does not cover normal wear and tear or cosmetic issues. Ask the sales office for a detailed warranty document that explains what is and is not covered.

What if the home is not finished by the closing date?

Your purchase agreement specifies what happens if construction delays occur. Some agreements allow you to cancel and recover your deposit if the delay exceeds a certain number of days. Others do not. Review this clause carefully and discuss it with your lender, as delays can affect your mortgage approval timeline.

Are homeowners association fees included in the purchase price?

No. Homeowners association fees are separate and are paid monthly or annually after you close. The sales office will provide the current fee amount and what it covers. These fees can range from under $100 to several hundred dollars per month depending on the community and amenities.