Be The First To Own Vancouver’s Newest Homes.

Yes. Under B.C.’s Real Estate Development Marketing Act (REDMA), buyers have 7 days to cancel after receiving the disclosure statement and signing the contract. (For resale homes, a separate 3-business-day Home Buyer Rescission Period applies.)

Before selling, the developer must give you a disclosure statement describing the project and your right to cancel within seven days. Read it carefully—it governs substitutions, layouts, timelines, and more.

Delays can happen (financing, permits, materials). Contracts often allow schedule extensions or substitutions of “equivalent” materials. If a project is terminated, deposits are usually repaid (interest depends on your contract).

By default, deposits are held in trust by a lawyer, notary, or brokerage. If the developer has deposit protection insurance, deposits can be released to the developer—your contract and disclosure will say so.

Maybe. Your contract controls assignment rights, required developer consent, and any assignment fee. Since 2019, developers must include assignment terms and collect/report details under the Condo and Strata Assignment Integrity Register (CSAIR).

Assignment profits may be taxable. Also, B.C.’s Home Flipping Tax (effective Jan 1, 2025) applies to profits on presale assignments sold within 730 days of entering the contract (exemptions exist). This provincial tax is separate from federal flipping rules.

• GST (5%) applies to most new homes; some buyers can claim the GST/HST New Housing Rebate (builder may credit it on closing). 

• Property Transfer Tax (PTT) applies on completion/registration. However, the Newly Built Home Exemption can reduce/eliminate PTT for principal residences up to $1.1M FMV (effective Apr 1, 2024; partial up to $1.15M).

For PTT, B.C.’s First Time Home Buyers’ program provides full or partial exemptions within set price thresholds. For GST, the long-standing New Housing Rebate exists, and the federal government proposed an enhanced FTHB GST rebate in May 2025 (check status before you buy).

Canada’s foreign buyer ban (with various exemptions) was extended to Jan 1, 2027. Separately, B.C. charges a 20% Additional Property Transfer Tax to foreign buyers in specified areas, including Metro Vancouver (exemptions/refunds may apply in limited cases).

Yes—rental-restriction bylaws are no longer allowed in B.C. strata corporations (since Nov 24, 2022). Buildings can restrict or ban short-term rentals (e.g., Airbnb) and strata fines can be significant.

All new homes built by licensed builders must carry 2-5-10 home warranty insurance (minimum coverage: 2 years materials & labour, 5 years building envelope, 10 years structural).

Two common ones owners ask about:

• B.C. Speculation & Vacancy Tax (annual; designated areas; most residents exempt but you must declare every year).

• City of Vancouver Empty Homes Tax (annual declaration, different rules/rates from the provincial tax).

In B.C., completion typically occurs after the strata plan is registered and occupancy is authorized—then you sign, pay closing costs/taxes, and get keys. (Exact dates are set by the developer once approvals/registration line up.)

Your lender will re-verify income, debt, and the building’s status near closing. If you can’t complete, you risk losing your deposit and other remedies under the contract—get legal advice early and discuss backup plans (co-signer, larger down payment, different lender). (General guidance; always follow professional advice and your contract.)

Yes. B.C.’s Home Flipping Tax explicitly includes presale contracts sold within 2 years, with exemptions for certain life events. It’s distinct from federal flipping rules and from PTT.

Developers must collect and report assignment details in the CSAIR; the information is shared with the CRA for tax compliance.

Often yes—contracts frequently require developer consent and an assignment fee (the amount is contractual). Make sure you understand the fee and timing before you buy.

At minimum: the disclosure statement, your purchase contract (including assignment and delay clauses), the deposit schedule and trust/insurance terms, and the warranty certificate. A real-estate lawyer can explain risks and timelines specific to your project.

• “Will I pay interim occupancy fees like in Ontario?” – That two-stage occupancy/closing model is an Ontario thing; in B.C. you typically complete when the strata plan is registered and occupancy is authorized. 

• “Can I Airbnb it?” – Only if both city bylaws and strata bylaws allow it; strata can ban or limit short-term rentals even where the city permits.

• BCFSA: Consumer guide to presales (deposits, disclosure, 7-day rescission)

• BCFSA: Home Buyer Rescission Period (3 business days for resale)

• BC Housing: 2-5-10 home warranty overview

• B.C.: Newly Built Home Property Transfer Tax exemption

• CRA: GST/HST New Housing Rebate (new homes from a builder)

• Department of Finance: Foreign buyer ban extended to Jan 1, 2027

• B.C.: Additional Property Transfer Tax for foreign buyers (20% in specified areas)

• B.C.: Home Flipping Tax (incl. presales: presale contracts page)

• Rental rules: No strata rental-restriction bylaws (since Nov 24, 2022) and short-term-rental bylaws are still allowed

• B.C.: Speculation & Vacancy Tax (annual declaration)

• City of Vancouver: Empty Homes Tax (annual declaration)