Buying a home · New construction
New-construction purchases in BC run on the developer's contract, not the standard BCREA form. That changes how the deposit, the completion date, the specifications, the warranty, and the GST are handled. We act for buyers on new builds across Metro Vancouver — from a single condo unit to a custom-built detached home.
What's different
Not the standard BCREA Contract of Purchase and Sale. Each developer has its own form, drafted by its own lawyers. The terms are skewed toward the developer in most cases — that is the starting position. Reading every clause matters.
Most contracts give the developer a wide outside-completion window — often spanning 6 to 24 months. Your closing date moves with construction. Plan for the uncertainty: where you will live, what your mortgage rate will look like, what GST rates and PTT rules will be at completion.
Typical deposit stacks: 5% at signing, another 5% at the structural milestone, another 5% at envelope completion, and so on, up to 15-20% before completion. Each instalment ties up cash long before you have a unit.
5% federal GST applies to most new residential construction. Two rebates can apply: the standard GST New Housing Rebate (up to $6,300 below $450K) and the new First-Time Home Buyer GST Rebate (up to $50,000 below $1M, contracts signed March 20, 2025 onward). We file the rebate at closing where it qualifies. Use our GST calculator to estimate the net amount.
Statutory third-party warranty insurance covering 2 years on labour and materials, 5 years on the building envelope, and 10 years on structural defects. Arranged by the developer; transferable to subsequent owners during the coverage windows.
Lien holdbacks under the Builders Lien Act, plus a careful title search at closing, are how the risk of unpaid-supplier claims gets managed. On most files, the lender's holdback handles it; on more complex files, we do additional work.
Two windows that close fast
The Real Estate Development Marketing Act gives buyers of new BC residential development a 7-day rescission window after receiving a copy of the disclosure statement and the contract. That window matters: once it closes, the contract is binding subject to whatever subjects (and outside completion provisions) it contains.
A second protection — material change — applies if the developer makes a material change to the disclosure statement during construction. If the change is genuinely material, the buyer may have rescission rights tied to the change. The triggering events and timing are file-specific. If something has changed since you signed, talk to us before you complete.
Frequently asked
The contract is the developer's, not the BCREA standard form. That single difference cascades through the whole file: the deposit structure (often progressive stages over construction), the completion date (a wide window the developer controls, with outside dates), the specifications (subject to changes the developer reserves the right to make), the warranty (statutory home-warranty coverage applies), and the GST treatment (almost always payable on a new build). Reading the developer's contract before signing is the most important thing on the file.
Yes, on most new residential construction. The GST rate is 5%. Two rebates can reduce the net amount: the standard GST New Housing Rebate (up to $6,300 for owner-occupied homes under $450,000) and the new First-Time Home Buyer GST Rebate (up to $50,000 for FTHB-qualifying buyers under $1,000,000, available on contracts signed on or after March 20, 2025 through January 1, 2031). The rebates have specific occupancy and timing requirements and the documentation is filed at closing. We confirm rebate eligibility on every new-construction file. To estimate the net GST on a specific price, use our GST calculator.
BC requires statutory third-party home warranty insurance on most new residential construction. The coverage is structured as 2 years on labour and materials (with sub-limits within that period), 5 years on the building envelope, and 10 years on structural defects. It is paid for and arranged by the developer; it travels with the property to subsequent owners during the coverage windows.
A builder's lien is a registered claim on title by a contractor, subcontractor, or supplier who claims they have not been paid for work or materials supplied to the property. On a new build, the risk is that liens could be filed against your unit's title for unpaid suppliers of the developer. The standard mitigation is the lender's holdback under the Builders Lien Act and any additional comfort in the developer contract. We check for liens at closing as part of the standard title work.
Most developer contracts reserve the right to make changes during construction — substituting materials, changing layouts within a tolerance, moving common areas. Material changes often have to be disclosed and may give you rescission rights under the Real Estate Development Marketing Act, depending on the nature and timing of the change. If the unit you walk into on completion is meaningfully different from what you signed for, talk to us before you complete; the rescission window can close quickly.
Most BC pre-sale and new-construction deposits are held in trust by the developer's lawyer or a brokerage, in accordance with the Real Estate Development Marketing Act. Deposits are typically progressive — an initial deposit at signing, additional instalments at defined construction milestones — and may earn interest depending on the trust arrangement. The deposits are credited toward the purchase price at completion.
Send us the developer contract and the disclosure statement. We'll come back with a written review and a flat-fee quote — and we will flag the clauses that are worth pushing back on if there is still time.