Buying a presale means agreeing to buy a home before it is finished. It is common in Vancouver, and it can be a smart way to secure a new home and give yourself time to plan. Here is how it works.

Register early

Most builders, including us, release floor plans and pricing to registered buyers first. Registering is free and does not commit you to anything.

Read the disclosure statement

In British Columbia, buyers of new strata homes receive a disclosure statement before they sign. It sets out the project's details, the budget for shared costs, the construction timeline and more. Take the time to read it, and ask a lawyer or notary to review it with you.

Understand the deposit

Your purchase agreement sets the deposit amount and when it is due. Presale deposits in BC are held in trust. Make sure you understand the payment schedule before you sign.

Questions worth asking

• When is completion expected, and what happens if it changes?
• Which home warranty provider covers the project?
• What are the estimated monthly strata fees?
• What is included in the price, and what are optional upgrades?

This guide is general information, not legal or financial advice. Speak with your own lawyer, realtor and lender before buying.