BC Condo Buying Rules: What Every Buyer Should Check

On this page (17 sections)

These BC rules apply to every condo purchase on this site, whichever neighbourhood it is in. They are written once here; each community page covers only what is specific to that community.

Email me new listings for this search

Get new homes by email as they come on the market. Jared sets up the alert for you.

Sent by Jared Gibbons, REALTOR®, Royal LePage Little Oak Realty, #201, 15272 Croydon Drive, Surrey, BC V3Z 0Z5, 604-928-1361, jaredgibbons@royallepage.ca. Every email has an unsubscribe link. Privacy Policy

Rental-restriction bylaws are void

Since November 24, 2022 for strata property anywhere in BC — any "rentals not allowed" line in a directory or listing for a Lindell Beach bare-land strata is void as a long-term rental restriction. Short-term rentals are a separate, live gate at the south end: stratas may still ban or limit them by bylaw; the FVRD Board specifically enabled Electoral Area H (Lindell Beach) to proactively address short-term vacation rentals, FVRD Zoning Bylaw No. 1638 excludes "Temporary Tourist Accommodation" from Residential use unless the zone expressly permits it, and a provincial short-term rental registration number has been required since May 1, 2025. Age bylaws: Strata Property Act ss. 123.1/123.2 allow only a 55-or-older residency bylaw, with Regulation 7.01 exemptions for legacy residents, live-in caregivers and (from May 1, 2023) younger spouses/partners and defined children.

Presales (REDMA)

the Real Estate Development Marketing Act s. 21 gives a 7-day rescission period from the later of signing and acknowledging the disclosure statement, with deposits held in trust under s. 18.

Property Transfer Tax (BC)

1% on the first $200,000, 2% from $200,000 to $2 million, 3% above $2 million, plus a further 2% on the residential portion above $3 million — a purchase under $800,000 is taxed entirely in the 1% and 2% tiers, where the general tax applies. Newly Built Home Exemption: full to $1,100,000, partial to $1,150,000.

Depreciation reports

since July 1, 2024, stratas with five or more lots must obtain one every five years, no deferral by vote. Minimum CRF contribution: at least 10% of the operating fund since November 1, 2023. A 60-unit 1980s strata at a ski hill carries exactly the roof, envelope and amenity exposure (outdoor pool, hot tub, recreation centre) these two rules price into fees — read the depreciation report before comparing Hemlock fees to a city building's.

Form B

Strata Property Act s. 59 — states the lot's monthly strata fees, amounts owing, approved special levies still payable, the CRF balance, and a summary of the strata's insurance, with the rules, current budget, any Rental Disclosure Statement and the most recent depreciation report attached; provided within 7 days, maximum $35 plus up to 25 cents per page. Strata paperwork is where a Surrey townhome is actually priced: the Province's strata buying guidance directs buyers to the Form B, the Form F, bylaws and rules, fees and special levies — age restrictions, pet rules and rental restrictions live in those documents, not in the listing price.

Federal savings vehicles

Home Buyers' Plan $60,000 per buyer from RRSPs; First Home Savings Account $40,000 lifetime, $8,000 per year. Mortgage default insurance (CMHC): published premiums run 0.60% to 4.50% — the published range is 0.6%–4.5% — plus 0.20% where the over-25-year amortization surcharge applies. Park-home financing is lender-specific chattel-style lending in many cases — confirm financing with the lender and the park before subjects, never from the listing alone.

Mortgage default insurance (CMHC)

published premiums run 0.60% (LTV up to 65%) to 4.00% (90.01%–95% LTV), 4.50% at the top band with a non-traditional down payment, plus 0.20% where the over-25-year amortization surcharge applies — for insured home purchases; vacant-land financing is a lender-specific product and the CMHC home-purchase schedule is not stated here as a land-loan rule.

GST on new condos

5% GST applies to new construction, not resales. Moody on the Hill was built in 2024, so whether GST is payable turns on the specific unit's sale history (a first sale from the developer vs a resale). The First-Time Home Buyers' GST/HST Rebate (Bill C-4) rebates 100% of GST up to a $1 million price (maximum $50,000), phasing out to $1.5 million, for agreements signed on or after March 20, 2025 and before 2031; CRA's Excise and GST/HST News No. 122 states Bill C-4 received Royal Assent on March 13, 2026 (some secondary sources say March 12 — CRA governs). The older GST New Housing Rebate (36%, maximum $6,300, $350,000–$450,000 phase-out) still exists.

55+ bylaws

Strata Property Act ss. 123.1/123.2 — only 55+ is lawful; exemptions for younger spouse/partner, live-in caregiver, legacy residents and defined child cases (May 1, 2023 expansion).

GST and rebates

5% GST applies to new construction, not resales — a never-occupied unit in a 2025-completed tower (Plaza One, Plaza Two, The Grand on King George, Park George) can still be a developer sale, so establish per unit whether the sale is a developer sale or a resale. First-Time Home Buyers' GST/HST Rebate (Bill C-4, Royal Assent March 13, 2026 per CRA News No. 122 — some secondary sources say March 12, CRA governs): 100% of GST to $1M, maximum $50,000, phasing to $1.5M, agreements March 20, 2025–2031; GST New Housing Rebate 36% / maximum $6,300 / $350,000–$450,000 phase-out.

Depreciation reports and CRF

since July 1, 2024, stratas with five or more lots must obtain a depreciation report every five years, no deferral by vote; and since November 1, 2023, stratas must contribute at least 10% of the operating fund to the CRF.

Minimum CRF contribution

effective November 1, 2023, stratas must contribute at least 10% of the operating fund to the contingency reserve fund in the annual budget.

Strata Property Act ss. 123.1/123.2 and Regulation 7.01 — only a 55-or-older residency bylaw is lawful, with exemptions for legacy residents, live-in caregivers and (from May 1, 2023) younger spouses/partners and defined children. That rule cuts two ways in this city: the Fraserview Village buildings are published as 55+ (confirm the registered bylaw on the Form B), while Canuck Plaza's "25+" label is void because no age other than 55+ can be a lawful strata age bylaw, and Haney Pioneer Village is a 60+ co-op whose age rule is a co-op rule, not a strata bylaw at all.

Sources

BC condo buying: your questions answered

Are pets allowed?

Published lines: Eight West — pets allowed, with unit listings recording cats OK; 8 West — pets allowed; Westhaven — pets allowed with restrictions; The Winchester — unit listings record cats OK, and a townhouse listing in the complex records 2 pets OK. Pet bylaws remain enforceable in BC — the registered bylaws in the Form B package govern for the specific building.

What PTT should I budget?

On the worked example — inputs: $560,000 fair market value (the September 2026 New Westminster community attached median, illustration only), fully residential, no exemption — the bill is $9,200.

Will I get the full strata documents — Form B, minutes, depreciation report?

In an ordinary resale the strata must provide a Form B within 7 days of a proper request (Strata Property Act). Price the information risk, and read the conditions of sale line by line with a lawyer.

What is the tax penalty if I miss Mission's July 2 deadline?

A flat 10% penalty on any current balance outstanding on July 3, 2026 — not a staged 5% + 5%. The 5% + 5% pattern is the separate FVRD rural regime for electoral areas outside the City. The City states it has no authority to waive or modify the penalty, and it does not accept credit card payments.

Do I have to sign in or show ID at an open house?

No BC Gov or BCFSA consumer source states an identification or sign-in requirement for open-house visitors.

Can my accepted offer still lose?

Yes, two ways the rules themselves create: the person with conduct may apply to confirm a sale even before the redemption period expires (Rule 21-7(9)), but until the confirming order is made the sale is not final; and the court's directions may define rights to bid, make offers or meet bids (Rule 13-5(4)(d)), so a competing bid at the approval stage is a real possibility in this process.

Is the title clean if I win?

That is what the confirming order does: on the Rule 21-7(9) application the court may order the sale confirmed, direct the disposition of the proceeds and vest title in the purchaser; the result of the sale is certified in Form 60 (Rule 13-5(6)). The vesting order, not the listing, is the title-cleaning step.

What should I ask for after I like a unit at an open house?

The strata package behind the Form B: the depreciation report (mandatory every five years for stratas with 5+ lots since July 1, 2024), financial statements, CRF balance and planned work — the items BCREA advises reviewing to identify future special levies. In the 1977–1992 buildings (Tsawwassen Mews, The Lexington, Tsawwassen Greene, Royal Oaks, Heron Place) that package matters more than the staging.

What Buyers & Sellers Say

Excerpts from Google reviews for Jared Gibbons, REALTOR® at Royal LePage Little Oak Realty (Suite 201 - 15272 Croydon Dr, Surrey). Quoted word for word; initials only.

  • 5 out of 5 stars

    “Highly recommend Jared and his team. He made listing and selling my condo easy. Jared is a great negotiator with lots of experience! Very happy with the results.”

    K.H. 20 Apr 2026 · Google review

  • 5 out of 5 stars

    “Jared is a dream realtor. He spent lots of time helping me find my first home (a beautiful condo) in 2021 and in 2025 helped me sell the condo in a matter of days as my husband and I purchased our first home together (an incredible row home)…”

    A.B. Google review

  • 5 out of 5 stars

    “I’ve had the pleasure of working with Jared for both buying and selling homes in the past, and he has recently helped me sell a condo. I can confidently say that his service is by far better than any other realtor I’ve worked with…”

    A.B. Google review

More real estate

Ready to get started?

Call 604-928-1361 or Email me today and let's discuss your next home sale or purchase.