For: First-time buyers and investors · Updated 2026-10-28

Should I buy a presale or a move-in-ready new condo?

By Uzair Muhammad, REALTOR®, Real Broker BC

Quick answer

In 2026, a completed new unit is often the lower-risk choice: you see exactly what you're buying, there's no appraisal surprise and no construction risk, and developers are discounting unsold inventory. Presale still wins if you need time to save, want the newest product, or the deal is clearly better. Both can qualify for new-home tax breaks.

Why move-in ready is getting attention

Metro Vancouver has a large stock of completed, unsold condos, especially in Surrey, Vancouver and Burnaby. Some developers are offering bulk or discounted sales on finished units.

Resale units in some newer buildings are also trading well below their original presale prices.

Tax breaks on new homes

A home bought new from the builder can qualify for the newly built home PTT exemption (up to $1,100,000, partial to $1,150,000) and, for first-time buyers with an agreement dated on or after March 20, 2025, the first-time buyer GST rebate. A resale unit doesn't get these, but also doesn't charge GST.

How to choose

Choose move-in ready if you need certainty, want to move or rent soon, or can't absorb a completion shortfall. Choose presale if you need 2 to 3 years to build your down payment and the net price beats completed options.

Want the move-in-ready list for your budget?

On a 10-minute call we'll pull the completed new units and presales in your price range and compare them honestly.

Book a free 10-minute call · Call or text (672) 258-1100

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Frequently asked questions

Is it cheaper to buy a completed new condo than a presale?

Often in 2026, because developers are discounting unsold inventory. Compare net price per square foot after incentives.

Does the first-time buyer GST rebate apply to a move-in-ready new condo?

It applies to new homes bought from a builder under an agreement dated on or after March 20, 2025, if you meet the other conditions. Confirm with the CRA rules and your lawyer.

Do I pay GST on a resale condo?

Generally no. GST applies to new homes, not resale.

Sources

This is general information, not legal, tax or financial advice. Rules change; confirm with a lawyer, accountant or mortgage professional before you act.

About the author

Founder of Presale Properties Group. Spent 10 years at the City of Surrey in Planning and Bylaws before real estate. Represents buyers only on new construction across Metro Vancouver and the Fraser Valley.