A new home has no history to inspect, so the checking moves to the paperwork. Here is a checklist that runs from contract to possession.
Condos for Sale in Kelowna4 min read
By the Serenity team. Published , checked .
Most useful for: First-time buyers, People moving from Alberta or the Lower Mainland.
This new build condo buyer checklist is for anyone buying a Kelowna condo that has not been lived in. A resale condo can be inspected before you commit. A new one cannot, so the protection comes from the documents, the warranty and the walk-through at the end.
The list below follows the order of a purchase: before you sign, between signing and completion, and at possession. Tick items as you go, and keep the answers in writing.
A new build condo buyer checklist in BC starts with the disclosure statement, then covers where your deposit is held, the home warranty, the strata budget and the walk-through before you take possession. New homes carry a 2-5-10 warranty: two years on materials and labour, five on the building envelope and ten on structure.
Each number is read from the sources listed at the end of this guide on October 16, 2026.
A BC developer must file a disclosure statement with BCFSA before it markets a unit and must give you a copy before you sign. It may begin marketing as soon as the statement is filed, even before BCFSA has reviewed it, so reading it is your job.
BCFSA points buyers to specific sections: estimated construction dates (5.1), estimated strata fees (3.8), strata bylaws (3.5), parking rights (3.6) and your right to cancel (7.2). Read the statement and every amendment first. Your seven-day cancellation period runs from the later of signing and acknowledging the statement, so the order matters.
A developer must place your deposit with a real estate brokerage, lawyer or notary, who holds it in a trust account in BC. Deposits generally cannot be used to build or market the project unless authorized deposit insurance has been obtained. Ask who the trustee is and get the answer in writing.
If you want to see how a staged schedule adds up against the minimum down payment, use the deposit planner in our guide to presale deposits.
All new homes built by a licensed residential builder in BC must carry home warranty insurance. BC Housing describes the 2-5-10 cover as two years on materials and labour (with a 12-month limit for non-common property in a strata unit, 15 months for common property and 24 months for major systems, cladding, windows and doors), five years on the building envelope and ten years on structural defects.
For a strata unit the maximum claim is the lesser of the first owner's purchase price and $100,000. Coverage starts at first occupancy or transfer of title, whichever comes first, and it stays with the home if you sell. Ask the sales team to name the warranty provider.
Since November 1, 2023, a BC strata corporation must put at least 10% of its annual operating budget into the contingency reserve fund. For a new strata the developer's own contribution is the lesser of 10% of estimated operating expenses multiplied by the years since the plan was deposited and 50% of estimated operating expenses.
BCFSA warns that strata fees can come in higher than the developer's estimate, because insurance premiums and labour costs change. Read section 3.8, then ask what the first budget is based on.
Before you take possession you walk through the finished home. List every defect you see and photograph it, because BC Housing tells owners to keep the walk-through inspection report with their warranty documents. Take your time and bring a second person.
After you move in, BC Housing's rules for claims are specific. To be covered, you report a problem in writing to both the warranty provider and the builder before the coverage expires. In a strata building, report problems with your unit to the warranty provider and problems with common property to the strata council or building manager. Keep copies of all correspondence, and inspect the home before each expiry date.
Work through the list in order. Ticks stay in your browser, and you can copy or print the list for your lawyer, your lender or the walk-through.
From the disclosure statement to the keys.
0 of 15 checked
Your ticks stay in this browser and are not sent anywhere. General information, not legal or financial advice.
BC's 2-5-10 home warranty insurance covers materials and labour for two years (with shorter limits for some items), the building envelope for five years and structural defects for ten. For a strata unit the maximum claim is the lesser of the first owner's price and $100,000, and cover stays with the home when it is sold.
A developer must place presale deposits with a real estate brokerage, lawyer or notary, who holds them in a trust account in BC. The deposits generally cannot be used to build or market the project unless authorized deposit insurance has been obtained.
Report the problem in writing to both the warranty provider and the builder before the coverage expires. For a strata home, report problems with your unit to the warranty provider and problems with common property to the strata council or building manager. Keep copies of all correspondence, as BC Housing advises.
BC gives presale buyers seven days to cancel without penalty, counted from the later of signing and acknowledging the disclosure statement. After that you can generally cancel only if the contract or the disclosure statement gives you a right to, so read the cancellation and late-completion terms first.
General information read from these sources on the date above, not legal, tax or financial advice.
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