Your Complete Multiplex Buying Guide

How long does it take to buy a multiplex in BC?

Buying a resale multiplex home in BC takes as long as the dates in your contract: you and the seller agree on the subject removal date and the completion date. BC's Home Buyer Rescission Period Regulation also gives you 3 business days after your offer is accepted to cancel, by paying the seller 0.25% of the price. A pre-sale takes until the home is finished, so ask the developer for the expected completion date in writing before you sign.

For resale, the steps are mortgage pre-approval, searching, an accepted offer, the subject period (inspection, financing confirmation, strata documents, title review), and completion. You and the seller set the length of the subject period and the completion date in the contract, so plan your own dates around your lender and your move. Pre-sale is a different process: you sign a purchase agreement, pay deposits as the agreement sets out, and wait for the developer to finish building. In a building of 5 or more strata homes, your deposit is held in trust under the Real Estate Development Marketing Act. Budget for the possibility of delays, which can push your move-in date back by months.

What is the Property Transfer Tax in BC?

BC's Property Transfer Tax is 1% on the first $200,000 of fair market value and 2% on the part from $200,000 to $2,000,000, according to the Province of BC. On a $900,000 resale multiplex home, that is $16,000. Newly built homes are fully exempt up to $1,100,000 under the newly built home exemption, and first-time buyers are exempt on the first $500,000 of homes up to $835,000.

Property Transfer Tax is one of the biggest closing costs that catches buyers off guard. On a $900K resale unit, you are looking at $16,000 due on completion day. First-time buyers purchasing resale should check if they qualify for the full or partial exemption (full exemption up to $835K, partial up to $860K). If you are buying a new home, the newly built home exemption covers properties up to $1.1M with a partial exemption up to $1.15M, whether or not you are a first-time buyer. Your notary or lawyer will calculate the exact amount during the closing process. Factor this into your cash-on-hand planning alongside legal fees, inspection costs, and moving expenses.

Do I need a home inspection for a multiplex?

Yes, get a home inspection on a resale multiplex home during the subject period, before you remove subjects. For a new multiplex home, do a careful walk-through before possession instead, and check again before the first year ends: under BC's Homeowner Protection Act Regulation, the materials and labour warranty covers defects inside your home for the first 12 months, and plumbing, wiring, heating, windows and doors for 24 months. Report every defect in writing before those dates.

A home inspection is your best protection against costly surprises. For resale multiplexes, your inspector should check the building envelope, foundation, roof, plumbing, electrical, and HVAC systems, the same as any house, but with attention to shared walls and separate utility setups. Book the inspection right after your offer is accepted so results come back within the subject removal window. For new homes covered by a 2-5-10 warranty, a thorough walk-through before completion is essential. Bring a checklist and photograph everything. Consider hiring an independent inspector even for new homes; they can catch items that the developer's own team missed. Sewer scopes are worthwhile on older lots where the line to the street may need replacement.

What's the difference between pre-sale and resale multiplex?

A pre-sale multiplex home is bought before it is finished: in a building of 5 or more strata homes you can cancel within 7 days with no fee under BC's Real Estate Development Marketing Act, GST of 5% applies, and the home gets the full 2-5-10 warranty. A resale home already exists: you can cancel within 3 business days by paying 0.25% of the price under the Home Buyer Rescission Period Regulation, used homes carry no GST, and any warranty time left moves to you.

The choice between pre-sale and resale comes down to trade-offs. Pre-sale lets you lock in today's price and pay deposits over time, but you are buying from floor plans and drawings, and the finished home may differ from what you imagined. You also pay 5% GST on the purchase price; first-time buyers get it back in full at or below $1M through the first-time home buyers' GST/HST rebate, with a smaller rebate up to $1.5M. Resale means you walk through the home, see the finishes, meet the neighbours, and move in on the completion date you agree. Any 2-5-10 coverage still running moves to you automatically under the Homeowner Protection Act Regulation. The 3-day rescission period costs 0.25% of the purchase price if used. It covers resale homes and pre-sales in a duplex, triplex or fourplex. A pre-sale in a building of 5 or more strata homes has a 7-day window with no fee instead.

Should I buy pre-sale or wait for resale multiplexes?

Buy pre-sale if you can wait for the home to be finished and want the full warranty; buy resale if you need to move soon and want to see the home first. Prices are softer now: Greater Vancouver REALTORS' benchmark fell for every home type in the year to September 2026 (detached down 7.3%, townhouse down 4.7%), and it publishes no multiplex benchmark. A pre-sale adds 5% GST, which first-time buyers get back in full at or below $1 million.

Pre-sale advantages: you secure today's price, get a 7-day rescission period with no fee under the Real Estate Development Marketing Act in a building of 5 or more strata homes, and get the full 2-5-10 warranty. First-time buyers can claim the first-time home buyers' GST/HST rebate. Pre-sale risks: building delays happen, the finished unit may not match the showroom, and your deposit is tied up until completion. Resale advantages: you walk through the home, see the finishes, check the sound between homes yourself, and close on the dates you agree. Resale risks: less warranty time is left, and you take the home as it is. Our view: if you need to move within six months, resale is your only option. If you can wait, a pre-sale in a soft market gives you more room to negotiate.

What happens if the developer goes bankrupt before completion?

If a developer of a building with 5 or more strata homes goes bankrupt, BC's Real Estate Development Marketing Act (REDMA) protects your deposit in two ways. Section 18 says the developer must place each deposit with a brokerage, lawyer or notary, who holds it in trust. Section 19 lets the developer use a deposit only after it signs a deposit protection contract with an insurer and gives you notice. Ask which applies to your deposit. If the home is finished, the 2-5-10 warranty comes from a licensed insurer, so it still pays valid claims.

REDMA is your first protection in a building of 5 or more strata homes. In a duplex, triplex or fourplex sold as strata homes, your contract sets who holds the deposit. Under REDMA, a deposit stays in a trust account unless the developer has a deposit protection contract from an insurer for it, in which case the developer can use it for the project and the insurer covers it. Ask the developer, in writing, where your deposit is held and whether a deposit protection contract applies. Even with your deposit safe, you lose the time you waited. The 2-5-10 warranty covers up to 2 years on labour and materials, 5 years on the building envelope, and 10 years on structural defects. It stays with the home, so it survives the builder's bankruptcy. It does not cover upgrades you negotiated or a promised completion date. To protect yourself, research the developer's record before signing: check BC Housing's licensing database, look at their previous projects, and ask your realtor about their finances.

What is the minimum down payment on a $900K multiplex home?

The minimum down payment on a $900,000 multiplex home is $65,000: 5% of the first $500,000 ($25,000) plus 10% of the remaining $400,000 ($40,000), according to the Financial Consumer Agency of Canada. Because that is under 20%, you also pay mortgage insurance. At the minimum, Canada Mortgage and Housing Corporation's premium is 4.00% of the $835,000 loan, which is $33,400 added to the mortgage. At $1.5 million or more, the minimum down payment is 20%.

Can I rent out a strata multiplex home in BC?

Yes. Since November 24, 2022, no strata in British Columbia can have a bylaw that stops owners from renting out their home, according to the Province of BC. That covers almost every multiplex home, because most are sold as strata homes. A strata can still limit or ban short-term rentals, such as nightly stays, with a three-quarter vote of owners, so read the bylaws before you plan on that kind of rental.