Buying a home off-plan: Is it worth the risk?

To whom it may concern,
I find myself in a state of profound uncertainty and would appreciate your collective insight. I have identified a promising residential property currently in the pre-construction phase—slated for completion in approximately one year—being developed by a major firm like Lennar.
While the prospect of paying upfront is tempting due to the significant cost savings, I am plagued by doubt. Is such a move prudent, and more importantly, what legal safeguards should one employ to mitigate the risk should the developer fail to deliver? If anyone possesses either legal expertise or lived experience regarding these matters, I would be most grateful for your guidance. I am quite at a loss as to whom else to consult.

We opted to put down about 30% upfront while the building was still under construction, which allowed us to snag a rate roughly $30 per square foot lower than market value, with the balance settled just before move-in. The real perk was having the freedom to rearrange walls and plumbing layouts or swap out tiles to our liking during the process. In the end, we had to factor in some extra costs because the moisture levels took forever to stabilize after we moved in. Everything eventually worked out fine, even though the construction firm has since folded.

Could someone let me know if paying cash upfront before construction starts offers any significant discounts on the apartment price?