Is the price I see the price I pay?

Not on a new home. Add 5% GST, then subtract any rebate you qualify for. On Green Square townhome 103 at $689,000 plus GST that is $723,450 all in before the rebate.

Can a first-time buyer get all the GST back?

On a new home priced up to $1,000,000, yes, under the First-Time Home Buyers' GST Rebate for agreements signed on or after May 27, 2025. It phases out between $1,000,000 and $1,500,000. Your lawyer or accountant confirms eligibility; we run the numbers.

What is the difference between a presale and move-in ready new construction?

A presale is a contract on a home that is not finished: staged deposits, a rescission period, and a completion date that can move. Move-in ready new construction, like Revo or the finished units at Paramount Peak, closes like a resale but still carries GST and the new home warranty.

Does a presale come with a warranty?

Every new home in BC comes with the 2-5-10 new home warranty: two years on labour and materials, five on the building envelope, ten on the structure.

Should I buy a presale or a resale?

At the same price, a resale closes faster and you see exactly what you get; a presale locks today's price on a home finished later, with the GST rebate on the table for a first-time buyer. We lay the two side by side for the home you are looking at.

Presales and new construction in Kelowna, explained before you sign.

A presale runs on paperwork a resale never sees. Six pieces decide what it really costs and when you get the keys. We represent the projects below, so you get the developer’s numbers and the resale comparison from one agent.

Ask about a project First-time buyer? Start here

The six pieces of a presale

The disclosure statement
In BC a developer can only offer a new home for sale after filing a disclosure statement under the Real Estate Development Marketing Act. It tells you what you are actually buying: the plans, the strata, the budget and fees, and what the developer may still change. Read it before the deposit, not after.
The deposit, in stages
On a resale the deposit is usually 1% to 5%, due within 24 hours and held in trust. On a presale the developer sets the structure and it is paid in stages. Shannon Lynn on the Lake, for example, is 15% in total: 5% at signing, 5% at six months and 5% at ten months.
The rescission period
A presale contract comes with a cooling-off window written into the disclosure. At Shannon Lynn it is 7 days. Use it to have a lawyer read the contract.
GST, and the rebate
A brand new home carries 5% GST on top of the price, which is why every new construction price we publish says plus GST. A first-time buyer may get the full GST back on a new home priced up to $1,000,000 (phasing out to $1,500,000, for agreements signed on or after May 27, 2025). Any buyer gets part of it back under the older New Housing Rebate, which shrinks to nothing past $450,000.
Assignment
Some contracts let you sell your contract to another buyer before completion and some do not; the developer sets the terms and any fee. Ask before you sign, not when your plans change.
Completion and possession
Completion is when the money moves and title registers. Possession is the keys, usually a day or two later. On a presale both wait for the building, and the developer's dates can move, so plan your financing with room.

The projects we represent

Prices are the developers’ published starting prices when this page was written. The project page is the live source for every home, plan and price.

Paramount Peak
111 freehold townhomes above Tallus Ridge in West Kelowna. Phase 1 is 46 homes; the units on MLS with us start at $799,999 plus GST.
See the project
Shannon Lynn on the Lake
72 townhomes and duplexes on Shannon Lake in West Kelowna. Three bedroom homes from $599,900 and lakefront four bedrooms from $759,900, plus GST, as of October 1, 2026.
See the project
Green Square Vert
The last two homes of Troika's Lower Mission community, two blocks from Gyro Beach: townhome 103 at $689,000 plus GST and penthouse 701 at $1,049,000 plus GST.
See the project
Revo Kelowna
Move-in ready condos in Landmark-Capri, prices from the mid $200,000s, with no rental restrictions in the developer's proposed bylaws.
See the project
Rosevale Estates
Fifteen lakeview home sites off Bear Creek Road in West Kelowna, built to FireSmart principles. You pick the lot, then the home, then the builder.
See the project
Water Street by the Park
Two finished towers downtown, one block from City Park. We co-list unit 1904 at $821,999 plus GST, and the developer still has homes across both towers.
See the project

Questions buyers ask about presales

Ask about a project

The six pieces of a presale

The disclosure statement

In BC a developer can only offer a new home for sale after filing a disclosure statement under the Real Estate Development Marketing Act. It tells you what you are actually buying: the plans, the strata, the budget and fees, and what the developer may still change. Read it before the deposit, not after.

The deposit, in stages

On a resale the deposit is usually 1% to 5%, due within 24 hours and held in trust. On a presale the developer sets the structure and it is paid in stages. Shannon Lynn on the Lake, for example, is 15% in total: 5% at signing, 5% at six months and 5% at ten months.

The rescission period

A presale contract comes with a cooling-off window written into the disclosure. At Shannon Lynn it is 7 days. Use it to have a lawyer read the contract.

GST, and the rebate

A brand new home carries 5% GST on top of the price, which is why every new construction price we publish says plus GST. A first-time buyer may get the full GST back on a new home priced up to $1,000,000 (phasing out to $1,500,000, for agreements signed on or after May 27, 2025). Any buyer gets part of it back under the older New Housing Rebate, which shrinks to nothing past $450,000.

Assignment

Some contracts let you sell your contract to another buyer before completion and some do not; the developer sets the terms and any fee. Ask before you sign, not when your plans change.

Completion and possession

Completion is when the money moves and title registers. Possession is the keys, usually a day or two later. On a presale both wait for the building, and the developer's dates can move, so plan your financing with room.

The projects we represent

Prices are the developers’ published starting prices when this page was written. The project page is the live source for every home, plan and price.