Frequently asked
Everything new-construction buyers ask Craig.
What's the difference between presale and new construction?
'Presale' means buying from the builder before construction is complete (often 1–3 years out). 'New construction' broadly includes presale plus completed-but-never-occupied units. Both trigger 5% GST; only presale is governed by REDMA disclosure.
How much deposit do I need for a Coquitlam presale?
Typically 15–20% of the purchase price, paid over 3–4 instalments during construction. On a $800,000 presale, that's $40K on signing, $40K at 6 months, $40K at 12 months, and $40K at completion (approximately).
What is REDMA?
The Real Estate Development Marketing Act — BC's legislation governing presale marketing. REDMA requires builders to file a Disclosure Statement with BC Financial Services Authority and gives buyers a 7-day rescission right after receiving the DS.
Are new-construction homes in Coquitlam covered by warranty?
Yes — every licensed residential builder in BC must provide the '2-5-10' New Home Warranty: 2 years on labour and materials, 5 years on building envelope, 10 years on major structural defects.
Can I assign a presale before completion?
Only if the builder allows it. Most Coquitlam builders either prohibit assignments entirely or charge an assignment fee set in the purchase contract. Assignments after first occupancy also trigger GST and, if non-primary-residence, capital gains.
Which Coquitlam builders should I avoid?
I do not publicly name builders to avoid — that's a conversation for an in-person strategy call where we can review real data on specific projects. Key red flags: warranty disputes in public court records, repeated completion delays past the 12-month statutory window, and thin strata engagement post-completion.
What is the outside completion date on a presale?
Every Disclosure Statement names an outside completion date (typically 18–36 months from first pricing). If the builder exceeds it, the buyer has a statutory right under REDMA to rescind with full deposit return. This is a critical date to track.
Do I need a realtor to buy a presale?
Not legally — but you should use one. The builder's sales centre represents the builder, not you. A buyer's realtor adds independent DS review, negotiates upgrades and assignment terms, and costs nothing (the builder pays the co-op commission from their marketing budget).
How does GST work on presales in Coquitlam?
5% GST applies on the purchase price. Homes priced at or below $350,000 qualify for the full New Housing Rebate of 36% (max $6,300). Rebate phases out between $350K and $450K. Above $450K, no rebate. First-time buyers should look at the separate First-Time Home Buyers' GST Rebate, in force since March 2026, which refunds 100% of the federal GST on a qualifying new home up to $1,000,000 and phases out to nil at $1,500,000.
When do Coquitlam presales typically appreciate — or depreciate?
The first 12 months after completion often see a 3–8% drop as the initial buyer pool saturates the market. Strong projects recover within 18 months. Weak projects (oversupplied, poor strata governance, envelope issues) can lag the broader market for 3–5 years.