How to Buy a Pre-Sale Condo in Vancouver: Everything You Need to Know [2025 Guide]
- Sam Loewen
- 2 days ago
- 4 min read
Updated: 1 day ago
Buying a pre-sale condo in Vancouver is one of the smartest ways to get into the city’s competitive real estate market — but it's not without its complexities.
As an experienced and award-winning Vancouver realtor, I’ve helped dozens of buyers successfully navigate the pre-sale process. In this guide, I'll walk you through exactly what you need to know before making one of the biggest investments of your life.
What Is a Pre-Sale Condo?
A pre-sale condo is a property you purchase before it’s built. You secure a unit today, often paying a deposit in stages, while the building is under construction.
Once completed (usually 2–4 years later), you complete the final purchase.
Why buyers love pre-sales:
More time to save for closing costs and mortgage
Brand new unit with modern design and warranties
Opportunity to enter the market at today's prices
Flexibility to customize finishes and layouts (depending on the builder)
But buying pre-sale isn’t just about choosing a pretty floorplan — it’s a financial and legal commitment. It’s crucial to know the steps and risks involved. how to buy a pre-sale condo in Vancouver
Why Buy a Pre-Sale in Vancouver?
In 2025, Vancouver's real estate market remains one of the strongest in North America.
Pre-sales continue to be attractive for buyers because:
Limited inventory: New construction supply often can’t keep up with demand.
Appreciation potential: You may benefit from rising property values during construction.
Warranty protection: New homes in BC come with a 2-5-10 year warranty program.
Lower initial cash requirement: Only a deposit is needed upfront (not the full mortgage).
However, prices for new developments have also risen steadily, and not every pre-sale project is created equal — making expert guidance essential.
Step-by-Step Process: How to Buy a Pre-Sale Condo in Vancouver
Step 1: Work with a Realtor Experienced in Pre-Sales
Builders hire their own sales teams who represent the developer’s interests — not yours.
Having your own licensed buyer’s agent costs you nothing (the developer pays the commission) and ensures you have an advocate throughout the process.
Pro Tip: A good realtor often has early access to floorplans, pricing, and VIP sales events before the public.
Step 2: Find the Right Development
Consider factors like:
Location: Proximity to transit, schools, parks, and shopping
Developer reputation: Past projects, customer reviews, quality of construction
Building amenities: Gym, lounge, rooftop patio, concierge services
Completion timelines: How far out is occupancy?
Not all developments hold equal value — some projects deliver strong returns, while others lag the market.
Step 3: Understand Deposit Structures
Typical deposit structure in Vancouver for 2025:
First deposit: 5% at signing
Second deposit: 5% after 3–6 months
Third deposit: 5%–10% closer to construction start
Total deposits: Typically 15%–20% of the purchase price
Each developer structures deposits slightly differently, so reviewing the contract carefully is critical.
Step 4: Review the Disclosure Statement Carefully
The Disclosure Statement is a legal document outlining:
Project plans
Estimated completion dates
Warranties and rights of the developer
Buyers' rescission rights (7-day cooling-off period)
This document is long but essential. Your agent and lawyer will help you understand what you’re agreeing to before you commit.
Step 5: Plan for Final Completion and Mortgage Approval
A common mistake? Assuming your financial situation will be the same years down the line.
Make sure you:
Get pre-approved with flexibility for interest rate changes
Keep your financial profile stable during the construction period
Understand final closing costs like Property Transfer Tax and legal fees
How Much Deposit Do You Need for a Pre-Sale Condo in Vancouver?
In 2025, most Vancouver pre-sales require between 15% and 20% total deposits spread over several months or years.
Example for a $750,000 pre-sale condo:
5% ($37,500) due at signing
5% ($37,500) due in 6 months
5%–10% ($37,500–$75,000) closer to construction
You generally won’t need your full mortgage until final completion.
Common Mistakes Pre-Sale Buyers Make (And How to Avoid Them)
Not reading the Disclosure Statement carefully
Assuming guaranteed appreciation (markets fluctuate)
Not budgeting for closing costs (which can add another 2–4% of the price)
Choosing based only on price without considering the developer’s reputation
Not understanding assignment rules (important if you plan to sell before completion)
Best Areas for Pre-Sale Condos in Vancouver Right Now
As of 2025, some of the hottest areas for pre-sale opportunities include:
Oakridge (massive redevelopment project, high-end options)
False Creek/Olympic Village (waterfront, very walkable)
Brentwood (technically Burnaby, but booming with new towers)
Cambie Corridor (near parks, SkyTrain, downtown access)
Each area offers different price points and investment potential, so your personal goals will help determine the best fit.
Final Thoughts: Is Buying a Pre-Sale Right for You?
Buying a pre-sale condo in Vancouver can be an excellent investment and lifestyle choice — but it’s critical to approach it with the right information and the right team on your side.
If you want insider access to the best upcoming pre-sale projects, expert advice on contracts, and negotiation power from the very beginning, having an experienced realtor by your side makes all the difference.
I specialize in guiding buyers through Vancouver’s complex pre-sale market — ensuring you avoid common pitfalls and secure the perfect home or investment.
Ready to Explore Vancouver’s Best Pre-Sale Opportunities?
Whether you're a first-time buyer, investor, or looking to downsize into a brand-new home, I can help you find the right pre-sale opportunity with confidence.
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