Cash back buying a condo in Burnaby: Metrotown, Brentwood, Lougheed
Burnaby is the busiest condo market in the Lower Mainland outside downtown Vancouver. Most resale apartments trade somewhere between $600,000 and $900,000, and on every one of those sales the seller's side pays a commission to the buyer's brokerage. You can ask for part of it back.
On a $700,000 condo, the common BC split to the buyer's brokerage is 3.22% on the first $100,000 and 1.15% on the remaining $600,000, which comes to $10,120 before GST. Partner agents in the Lower Mainland return half of that, about $5,060.
The math at common Burnaby condo prices
- $600,000: buyer-side commission $8,970, half is about $4,485
- $700,000: commission $10,120, half is about $5,060
- $800,000: commission $11,270, half is about $5,635
- $900,000: commission $12,420, half is about $6,210
The split on a given listing can differ, so your agent confirms the actual figure before you write an offer. The rebate is paid from the commission at completion, not taken off the price.
Metrotown
The densest tower cluster in the city, around Metropolis at Metrotown and the Expo Line. You will find 1980s and 1990s concrete buildings next to towers finished in the last five years. In the older ones, ask about plumbing replacement, elevator modernization and window projects, because these are the big-ticket items that show up as special levies. Our note on strata special levies explains how to read the minutes before you count on the rebate.
Brentwood
Brentwood has grown fast along the Millennium Line, and much of the stock is under ten years old. That usually means the 2-5-10 home warranty is still partly in force. Check which coverage has expired, and look at the strata's operating budget: new towers with amenity floors and concierge service often carry higher monthly fees than buyers expect.
Lougheed and Edmonds
Lougheed is in the middle of a long redevelopment around the town centre station, so expect construction nearby for years. That can be a reason prices are a little softer, and it is worth knowing which sites around your building are approved. Edmonds and Highgate have a mix of older low-rises and newer towers, often at lower prices per square foot than Metrotown.
Burnaby Mountain
UniverCity next to SFU is mostly newer condos and townhouses. A lot of units are rented to students, so ask about rental restrictions and the share of owner-occupied units if that matters to you or your lender.
Checks that apply to any Burnaby condo
- Form B. Shows strata fees, the contingency reserve balance and any approved levies.
- Depreciation report. Tells you what the building expects to spend over the next 30 years.
- Bylaws. Rentals, pets and age restrictions vary by building.
- Parking and storage. Confirm they are assigned to the unit or held as limited common property, not just verbally promised.
Presales are different
Burnaby has a lot of presale activity, especially at Metrotown and Brentwood. Developers pay the buyer's agent from their own commission schedule, which may not follow the 3.22% and 1.15% split. Bring an agent to your first visit to the sales centre, or the developer may decline to pay a commission at all.
See the Burnaby page for neighbourhood guides and the rebate at other price points.