Buying a new home where construction has not yet commenced presents unique financial challenges.  Some things you will have consider are:

  • What will my financial picture be at the time that it is completed?

  • Will I be able to get a loan when it is ready?

  • How much of a deposit is required and when is it required? 

  • Will I have enough to pay all of the deposits on time? 

  • Can I afford to tie up my cash until the building is completed?

  • What are my options if my personal situation changes and I no longer want it?

  • Is it better to buy now or wait until the building is closer to completion? 

  • What taxes will I have to pay?

  • Do I qualify for any exemptions?

A "pre-sale" (new construction) unit is often purchased as an investment, much like stocks or bonds, where there is an anticipated return on investment when the building is completed.   With a small amount (your deposit), it is often possible to "buy" a new home at today's prices and then "sell" it at tomorrow's higher price once the building is completed given that real estate prices tend to rise, particularly with new homes.   


As with every investment, prices could also fall or there could be barriers to selling but you can minimize the risks by understanding exactly what you are buying and what the risks are for that particular price point or development. 

If you are buying it to move into yourself, the same questions will apply but you will also have to consider how your current situation will affect the closing.   If you currently own a home which you need to sell before your new home is ready, when should you start to market it?  What if you can't sell it in time?  What are your options?   

Ringing Phone


T: 778-710-8860   

T: 604-601-2028