Burnaby Presale Condos & New Construction Homes for Sale

The HPI benchmark price reflects the estimated value of a typical home in a given area. In Burnaby, it’s often used to compare resale values, which can help put presale pricing into context when evaluating opportunities.

A presale condo is a home you purchase before it’s built or completed. In Burnaby, this often means securing a unit in a new high-rise or master-planned community in areas like Brentwood, Metrotown, or Edmonds, with completion timelines ranging from immediate occupancy to several years out.

Yes. Burnaby remains one of Metro Vancouver’s strongest presale markets due to its rapid transit network, redevelopment projects, and long-term growth potential.

Brentwood and Metrotown are popular for transit, shopping, and urban living, while Edmonds and South Burnaby attract families looking for quieter residential communities. Lougheed continues to grow as a major redevelopment and transit hub with strong long-term potential.

No, but working with an experienced presale realtor can help you compare projects, review incentives, and avoid costly mistakes.

Most presale projects require deposits ranging from 10 – 20%, usually paid in stages leading up to completion, making them more manageable than buying a resale with a full down payment up front.

Completion happens when the building is finished and officially registered. At that point, you finalize your mortgage, pay the remaining balance, and take ownership of the home.

Timelines vary widely. Some Burnaby projects offer move-in-ready inventory, while others can take up to 3 years to complete. This flexibility allows buyers to choose between immediate occupancy and planning ahead.

In British Columbia, buyers of pre-construction homes have a seven-day rescission period. This allows them to cancel the purchase agreement within seven days of signing the contract or receiving the Disclosure Statement, whichever is later. To rescind, buyers must provide the developer or brokerage with written notice.

However, this right only applies to new purchasers who have not previously received a Disclosure Statement for the development. If a buyer has already received a Disclosure Statement for the same property, they do not have a second rescission right. Deposits must be held in trust, and if the contract is rescinded properly, the deposit must be promptly refunded.

Yes, GST applies to most new construction homes, including presale condos in Burnaby. However, many buyers qualify for partial or full rebates depending on the purchase price and eligibility.

Presale (new) homes in BC may be exempt from Property Transfer Tax if their fair market value is $1,100,000 or less. This exemption applies to various newly built properties, including those constructed on vacant land.

• A new condo unit in a newly built building
• A newly placed manufactured home on vacant land
• Other qualifying newly built residences

No. In Burnaby presale purchases, you don’t start mortgage payments until the home is completed and you take possession. Until then, you’re only responsible for the deposit structure.

If you’re unable to complete, you may risk losing your deposit and could face additional legal or financial consequences. That’s why it’s important to review financing and contract terms carefully before committing.

Yes, this is called an assignment sale. Some Burnaby developments allow it, but rules vary by project and developer. It’s important to review assignment terms before purchasing if flexibility is important to you.

The main risks include construction delays, market changes during the build period, and differences between marketing materials and final delivery. Choosing the right location and a reputable developer helps reduce these risks.

Yes. In today’s Burnaby market, many developers offer incentives such as price discounts, deposit structures, upgrades, or credits. These can significantly improve overall value compared to resale options.