Burnaby Real Estate

Burnaby sits between Vancouver and the eastern Metro Vancouver municipalities. The City organizes much of its growth around four town centres, with other areas planned as urban villages, suburban multi-family districts, mixed-use precincts, or parks. Those categories are more useful than a generic “good area” label.

A practical decision usually starts with housing form, then location, then the documents that come with that form. Transit access can change which buildings are workable for daily life. Strata rules and building condition can change the cost of a condo more than the unit finish. Ownership goals, financing, and whether the home will be lived in or rented all affect the same search.

If you are looking for a home to rent, current Burnaby residential rentals from the REALTOR.ca DDF® National Shared Pool are on Burnaby homes for rent. Alex Lam Personal Real Estate Corporation displays that board feed. Those homes are not necessarily listed or managed by Alex or Prestige.

This page is educational. It is not legal, tax, mortgage, or planning advice, and it does not predict prices or commute times. Planning frameworks can change. Confirm current municipal and provincial rules on the official pages linked below, or with a qualified adviser, before acting on a specific property.

For a strata purchase, the building and the corporation can matter as much as the individual unit. Buyers typically review the strata plan, bylaws, rules, recent minutes, financial statements, the operating budget, the contingency reserve fund, insurance, parking and storage allocation, and any special levies that have already been approved. For a document-by-document walkthrough, see reviewing strata documents.

A Form B Information Certificate is the prescribed disclosure a strata corporation must provide, within seven days, to an owner, a purchaser, or someone they authorize. The current form is updated from time to time. As of April 1, 2023 it must include a summary of the strata corporation's insurance coverage. Current Form B requirements also include electrical planning report information, and attaching electrical planning reports when the corporation has obtained them under the Strata Property Act. The certificate is current to its date and binds the corporation to a person who reasonably relies on it.

Official attachments include the rules (if any), the current budget, the most recent depreciation report, if one exists, and electrical planning reports when obtained. A Form B can also disclose monthly fees, amounts owing, approved future levies, expected budget overruns, the contingency reserve fund balance, pending bylaw or 3/4-vote items, proceedings, work orders, and parking or storage details. Ask for minutes and other records as well. Do not treat any one document as a complete picture.

A depreciation report describes common property and projected repair costs over a long planning horizon. Provincial requirements were strengthened effective July 1, 2024. Strata corporations with five or more lots must obtain reports on a five-year cycle. Corporations with four or fewer lots remain exempt. In Metro Vancouver, corporations without a report, or with a report received before December 31, 2020, were given until July 1, 2026 to obtain one. Those dates and rules can change. Read the current provincial depreciation-report page.

As of November 24, 2022, B.C. does not allow residential rental-restriction bylaws that ban or limit long-term rentals of strata lots. Short-term rental bylaws may still exist. Pet and other use rules can still appear in bylaws. Confirm the current bylaws and the current legislation. This is not legal advice.

Alex can help organize the review through real estate services. He does not replace a lawyer, notary, or strata-law opinion.

Start with the home you can live in and finance, then narrow by form and location. A town-centre condo, an urban-village townhouse, and a detached house on a larger lot ask different questions even when the list price looks similar.

Useful filters typically include parking and storage, building age and condition, whether the property is strata, and whether you need SkyTrain or can rely on bus and driving. If the home may later be rented, read the current tenancy and strata rules before you write an offer. Subjects may include financing, inspection, insurance, and document review, depending on the property.

British Columbia has a property transfer tax. Some first-time buyers may qualify for an exemption or reduction. Eligibility changes, so use the official program page. A BC Assessment value is an estimate of market value as of July 1 of the previous year. It is used to distribute property tax and can differ from a current sale price or a private appraisal.

For the buying sequence, see how buying typically works and the First-Time Home Buyers Seminar. The ordered first-time checklist — financing, official programs, the offer, subjects, and completion — is the first-time home buyer checklist for BC. This section stays on Burnaby place questions. It does not repeat that checklist. Current listings are on Homes for Sale. For a specific search, talk with Alex.

A listing plan usually starts with the property type, condition, and recent comparable sales, not with a promised timeline. Town-centre condos, townhouses, and detached homes compete in different buyer pools. Presentation, pricing, and timing work together. None of those is a guarantee of a faster sale or a higher price.

Strata sellers typically need current corporation documents, including a Form B when a buyer requests one, plus a clear picture of fees, levies, parking, and storage. Detached sellers typically need a clearer picture of the lot, systems, and any work a buyer's inspector will see. Offer structure and completion dates should fit the next home, not only the list price.

The selling sequence is on the real estate services page. The Sell With Confidence Seminar covers pricing, preparation, costs, and offers if you want the overview first. To discuss a specific property, contact Alex.

Residential tenancies in B.C. are governed by the Residential Tenancy Act and administered by the Residential Tenancy Branch. Official pages cover starting a tenancy, deposits, and ending a tenancy. Those rules can change. This section is not legal advice.

If the rental is a strata lot, long-term rental bans are currently not allowed, but short-term rental bylaws, pets, and other use rules may still apply. Prepare the home, decide whether you need help finding a tenant or ongoing management, and confirm municipal requirements that apply to that property.

Tenant placement and ongoing management are different services. Compare tenant placement and full management if you are choosing a service. The property management page covers the broader landlord process. To start a review of a specific rental, submit your rental.