Presale vs. Resale Condos in Burnaby: A First-Time Buyer's Guide

Burnaby is one of the busiest condo markets in Metro Vancouver right now, with major towers going up in Metrotown, Brentwood, and along the Gilmore/Willingdon corridor. If you're a first-time buyer trying to decide between a presale unit and an existing resale condo, the right answer depends less on the market and more on your own timeline and finances.

Presale in Burnaby: What You're Actually Buying

Presale means purchasing a unit before or during construction, directly from the developer. In Burnaby right now, that mostly means towers in Metrotown and Brentwood — the two hubs seeing the most new supply.

Why buyers choose presale here:

• Deposits are staged, not due all at once — typically 15–20% split across several installments over the construction period, which is easier on cash flow than one lump sum.

• GST rebate eligibility. First-time buyers purchasing new construction under $1M may qualify for a full GST rebate under current federal rules — a rebate that doesn't apply to resale purchases.

• New home warranty. Presale units carry statutory 2-5-10 year warranty coverage, which most resale units in older Burnaby buildings no longer have.

• More time to save before the remaining balance is due at completion, often 2–4 years out depending on the project.

The tradeoff: You're buying off a floor plan and rendering. Completion dates in Burnaby's current presale market have been running behind original estimates on several projects, and the finished unit can differ slightly from the marketing materials. You're also locked into the purchase price regardless of what the market does before completion.

Resale in Burnaby: What You're Actually Buying

Resale means an existing, already-built condo — plenty of inventory across Metrotown, Brentwood, and older strata buildings further from the SkyTrain corridor.

Why buyers choose resale here:

• You see exactly what you're getting — no gap between renderings and reality.

• Faster move-in, typically 30–90 days from offer to possession.

• Strata history is visible. You (or your agent) can pull depreciation reports and strata minutes to see how well a specific building has actually been maintained — something that doesn't exist yet for a presale project.

• More negotiating room, especially on older listings or properties that have sat on the market.

The tradeoff: No GST rebate on most resale purchases, no new home warranty unless the building is still within its original coverage window, and the full deposit (5–20%) is due at subject removal rather than staged over time.

Which Fits You?

If you have a few years before you need to move and want to take advantage of the GST rebate and staged deposits, presale in Metrotown or Brentwood is worth serious consideration — just go in with realistic expectations on completion timelines. If you want certainty on the actual unit, building history, and a faster move-in, resale is the more predictable path.

Every buyer's situation is different — I work through this exact decision with first-time buyers regularly, and I'm happy to walk through the current Metrotown and Brentwood presale options against what's available on resale right now.

Have questions about GST rebates, PTT exemptions, or which Burnaby buildings are worth a closer look? Reach out — happy to help you figure out what fits your situation.