Presales are everywhere in Burnaby and Coquitlam right now. Walk around Brentwood, Metrotown, Lougheed or Burquitlam and you’ll see sales centres on almost every other block.
A presale can be a great way to buy a brand-new home with time to save, but it comes with rules and risks most people don’t know about. Here’s what to know before you sign.
Is a Burnaby or Coquitlam Presale a Good Buy in 2026? (Quick Answer)
It can be, if you’re buying to live in it or hold long term, you’ve got your deposit lined up and you understand the risks.
Why 2026 can be a good time:
- Resale condo prices are down (Burnaby apartments -5.7% to -7.9% and Coquitlam -9.1% year over year), so developers are offering more incentives
- First-time buyers can get up to $50,000 back in GST on eligible new homes
- BC’s newly built home exemption can wipe out property transfer tax on homes under $1.1M
Why to be careful: if prices keep softening, your unit could appraise below what you paid when it completes.
Where Presales Are Being Built: Brentwood, Metrotown, Lougheed, Burquitlam and Burke Mountain
| Area | What’s being built | Good for |
|---|---|---|
| Brentwood (Burnaby) | High-rise towers near Brentwood Town Centre Station | Investors, young professionals |
| Metrotown (Burnaby) | Towers near Metrotown and Patterson stations | Commuters, rental demand |
| Lougheed (Burnaby / Coquitlam) | Master-planned towers around Lougheed Town Centre | Long-term growth, transit hub |
| Burquitlam (Coquitlam) | Towers and mid-rises by Burquitlam Station | First-time buyers, SFU access |
| Burke Mountain (Coquitlam) | Townhouses and detached homes | Families wanting space |
Ask us for a current project list. Launches change month to month. Torn between Burnaby’s two biggest hubs? Read Metrotown vs Brentwood.
Presale Prices: What $500K, $700K and $900K Buy in Burnaby and Coquitlam
Ballpark guide:
| Budget | Burnaby | Coquitlam |
|---|---|---|
| ~$500K | Rare; a small studio if anything | A studio or small 1 bed in some projects |
| ~$700K | 1 bed or 1 bed + den | 1 bed + den or a compact 2 bed |
| ~$900K | Compact 2 bed | 2 bed, or a 3 bed in some mid-rises |
| $1M+ | 2 bed + den, 3 bed | Townhouses on Burke Mountain |
Deposit Structures and Developer Incentives
Most BC presale deposits are 10% to 20% of the price, paid in stages. A common structure:
| Stage | Typical amount |
|---|---|
| At signing (or within 7 days) | 5% |
| 60 to 180 days later | Another 5% |
| Sometimes at a later milestone | 5% to 10% more |
Under BC’s Real Estate Development Marketing Act, your deposit is held in trust, not spent by the developer.
Incentives to ask about in 2026:
- Lower deposits (sometimes 10% total)
- Cash credits or price reductions
- Free parking or storage
- Assignment fee waivers
- Rate buydowns or developer-paid closing costs
GST, Rebates and Closing Costs on a Presale
New homes come with 5% GST. Here’s how to reduce it:
| Rebate / exemption | Who qualifies | Value |
|---|---|---|
| First-time buyer GST rebate (federal) | Eligible first-time buyers who will live in the home; qualifying agreements from 2025 to the end of 2030 | Up to $50,000 (full GST) on homes up to $1M, phasing out to $1.5M |
| Regular GST new housing rebate | Buyers living in the home, lower price points | Up to $6,300, mainly under $450K |
| BC newly built home exemption (PTT) | Buyers using it as a principal residence | Full PTT exemption under $1.1M, partial to $1.15M |
Other closing costs: legal fees (around $1,500 to $2,500 for a presale), strata fee adjustments, insurance and moving. Confirm rebate eligibility with your lawyer and the CRA before you sign, since the rules are detailed.
Assignment Rules and Fees
An assignment means selling your contract to someone else before the building completes. Our presale contract assignments guide covers it in depth.
What to know:
- Developer consent is required, and developers often charge an assignment fee (commonly 1% to 2% of the price, or a flat fee)
- Some contracts restrict public marketing of assignments
- All assignments are recorded in BC’s Condo and Strata Assignment Integrity Register
- The buyer of the assignment pays property transfer tax on the full amount they paid
- Taxes on profit: BC’s home flipping tax (up to 20%) applies to assignments within 730 days, and federal anti-flipping rules treat profits from homes held under 12 months as business income
Bottom line: buying a presale to flip is much harder and more taxed than it used to be.
Presale Risks: Delays, Appraisal Gaps and Financing at Completion
| Risk | What happens | How to protect yourself |
|---|---|---|
| Construction delay | Completion pushed back months or years | Check the outside completion date (see what happens if a presale is delayed) |
| Appraisal gap | Unit appraises below your price | Have savings to cover a gap, or a lender that appraises fairly |
| Financing at completion | Rates rise, you qualify for less | Keep your credit clean, avoid new debt, stress-test yourself |
| Market drop | Unit worth less than you paid | Buy to hold long term, not to flip |
| Changes to plans | Smaller or changed layouts | Read the disclosure statement amendments |
How to Vet a Developer and the Disclosure Statement
Vet the developer:
- How many projects have they completed in Metro Vancouver?
- Were those projects delivered on time?
- How have their older buildings aged? Read strata minutes from a past project if you can.
- Who’s the builder, and who provides the 2/5/10 new home warranty?
Read the disclosure statement for:
- Outside completion date
- Deposit schedule and trust terms
- Assignment rules and fees
- Parking and storage details
- Estimated strata fees
- Rental restrictions (stratas can’t ban long-term rentals)
FAQ: Burnaby and Coquitlam Presales
Is buying a pre-construction condo a good idea?
For long-term buyers, it can be. You get a new home with warranty and time to save. For short-term flippers, taxes and market risk make it much harder.
How much deposit do I need for a presale in Burnaby?
Usually 10% to 20% of the price, paid in stages. Some developers are offering lower deposits in 2026.
Can I assign my presale contract before completion?
Usually yes, with developer consent and an assignment fee. Check your contract, and remember the flipping taxes.
Can I cancel a presale within 7 days?
Yes. BC gives presale buyers a 7-day rescission period after you receive the disclosure statement and sign the contract.
What happens if the appraisal comes in lower than my price?
Your lender will only lend based on the lower value, so you’ll have to cover the difference with your own money.
Do I pay GST on a presale condo?
Yes, 5% GST applies. Eligible first-time buyers can get up to $50,000 back on homes up to $1M, and other rebates may apply.
Is it free to use a realtor for a presale?
In most cases, yes. The developer typically pays the buyer’s agent commission. Confirm before you register.
Are there presale condos under $500K in Burnaby or Coquitlam?
They’re rare. You might find small studios or 1 beds near that price in some Coquitlam projects, but most Burnaby presales start well above $500K.
Get VIP Pricing and Floor Plans Before Public Launch
The best units (good floors, views, layouts) often go during VIP previews, before the public launch. We’ll get you floor plans, price lists and incentive details early, and give you an honest take on the developer and the location.
Request presale access or call or text 604-347-6084.
Current as of November 2026. Benchmark prices are from Greater Vancouver REALTORS; price ranges are estimates and vary by building, street and condition.
