You have been saving. You have been watching the market. You have done the math on renting versus buying. Now you are trying to figure out which developer you can actually trust with the biggest purchase of your life, and what the buying process really looks like underneath the marketing language.
This page is built for you. It covers the real numbers (deposits, taxes, strata fees, utilities) and walks through exactly what Dawson + Sawyer's buying process looks like from the day you sign to the day you pick up your keys. Nothing is glossed over.
Surrey offers entry-level presale pricing that is significantly below equivalent units in Vancouver, Burnaby, or Richmond. For a first-time buyer working within a careful budget, the combination of lower entry costs and genuine transit connectivity is compelling. Fleetwood Village 2, for example, sits directly on the SkyTrain line, meaning a Surrey address does not require sacrificing Vancouver access.
New construction also eliminates the deferred maintenance risk that resale properties carry. A home built in 2024 or 2025 will not surprise you with a failing hot water tank, aging electrical, or a leaky envelope in year two of ownership. Every new Dawson + Sawyer home is covered by BC's mandatory 2-5-10 Year New Home Warranty: two years on materials and labour, five years on the building envelope, and ten years on structural defects. That warranty is a genuine financial protection that no resale property can offer.
Surrey's population is also growing faster than any other city in BC. Infrastructure investment including the SkyTrain extension, Simon Fraser University's Surrey campus, Surrey Memorial Hospital expansion, and City Centre redevelopment is accelerating. Transit-adjacent new construction in growing Metro Vancouver suburbs has historically appreciated at rates that outperform the broader market over a 10 to 15-year horizon.
The most common financial surprise for first-time buyers is not any single cost, it is the accumulation of costs they did not fully account for before signing. Here is the complete picture.
At signing, your first deposit is $5,000, which counts toward your total down payment and is held in trust. At the end of your seven-day Rescission Period, a second deposit installment is due; the exact percentage varies by project, so ask the sales team for the full deposit schedule in writing before you sign anything.
At completion, you pay the balance of your down payment, GST of 5% on the purchase price (a rebate of up to $6,300 is available if the total purchase price including upgrades and GST is under $350,000, with a partial rebate between $350,000 and $449,999), and Property Transfer Tax at 1% on the first $200,000 and 2% on the balance. First-time buyers qualify for a full PTT exemption on new homes with a fair market value under $750,000, and a partial exemption up to $800,000. Legal or notary fees typically run between $1,200 and $2,500, and home insurance is required from the date of possession, generally running $100 to $200 per month.
On an ongoing basis, your monthly costs include your mortgage payment, strata fees (which cover building insurance, landscaping, water and sewer, garbage, and maintenance), property taxes prorated monthly, and utilities such as hydro which are metered individually to your unit and not included in strata fees. The combined picture, when put on paper before you sign, removes the surprise factor entirely.
The developer you choose is as important as the unit you choose, because a presale purchase means you are trusting them with your deposit for 12 to 36 months before you hold the keys. Here is what separates a trustworthy developer from one that should give you pause.
Dawson + Sawyer has been building homes in BC for over 55 years and has delivered 28 completed communities with more than 1,000 homes. They manage construction entirely in-house, which means no subcontracting the oversight of your home. All BC New Home Warranty obligations are met as standard. Their deposit structure is disclosed upfront in full, and a dedicated homeowner care team handles post-possession warranty issues. Homeowner testimonials are available publicly on their website.
When evaluating any developer, watch for these warning signs: no track record of completed projects, construction managed entirely through third parties with no in-house oversight, verbal assurances not documented in writing, deposit schedules that escalate beyond what was initially disclosed, and no clear homeowner care process after possession. One of the most important questions to ask any developer is simply: show me a completed community and let me talk to residents. A developer confident in their product will not hesitate.
Understanding the buying timeline in advance removes a lot of anxiety from the process. You start by registering for VIP access, which gives you early visibility into pricing, floor plans, and unit availability before the general public. Once you have chosen your unit, you sign the Contract of Purchase and pay the $5,000 first deposit.
From your Acceptance Date, you have seven days (the Rescission Period) to get mortgage approval in writing, consult a lawyer if needed, review all documents, and confirm the purchase with your family. You can cancel without any penalty during this window. After the seven days, your second deposit is due and the contract becomes firm. Through the build period, the Builder Capped Rate Mortgage program keeps your approval locked in regardless of rate changes. You receive a minimum of 30 days written notice before your Completion Date, at which point the final payment is due and title transfers to you. The following business day is Possession Day — keys in hand, move-in begins.
Several federal and provincial programs exist to help first-time buyers in BC. The First-Time Home Buyers' Program provides a full PTT exemption for new homes under $750,000 fair market value and a partial exemption up to $800,000. The First Home Savings Account allows up to $40,000 in lifetime tax-sheltered contributions — deposits are tax-deductible and qualifying withdrawals are tax-free, making it one of the most efficient savings vehicles available. The Home Buyers' Plan lets you withdraw up to $35,000 from your RRSP tax-free for a first home purchase, with repayment over 15 years. For couples, that is up to $70,000 combined. Verify current eligibility requirements and thresholds with your accountant at the time of purchase, as program details can change.
Fleetwood Village 2 Condos is the strongest option for transit-dependent first-time buyers. Located directly on the SkyTrain, this development requires no car for the commute to Vancouver and sits in a neighbourhood with strong equity growth potential driven by the transit corridor.
Guildford The Greatest 2 offers condos near Guildford Town Centre, walkable to groceries, restaurants, and retail in an established neighbourhood.
Queens provides new condos and townhomes in the growing Bear Creek area with access to park greenspace and competitive pricing.
Compare all available new homes and floor plans
What credit score do I need to qualify for a mortgage on a presale?
Most lenders require a minimum credit score of 680 for an insured mortgage with less than 20% down. A higher score, generally 720 and above, typically secures better rates. Before signing a presale contract, speak with a mortgage professional and get written pre-approval. This is essential before your seven-day Rescission Period ends.
What happens to my deposit if the developer encounters financial difficulty?
Your deposit is held in trust as required by BC's Real Estate Development Marketing Act, providing legal protection for your funds during the build period. This protection is written into your Contract of Purchase. Confirm the trust account structure with the sales representative before signing.
What is a depreciation report and should I ask for one?
A depreciation report assesses a strata building's long-term maintenance needs and estimates upcoming major costs like roof replacement or elevator servicing. For new construction, the first report is typically commissioned within the first two years. Ask the sales team about the strata's contingency reserve contribution rate and when the first depreciation report will be prepared.
Is it better to buy presale or move-in ready as a first-time buyer?
Presale gives you time to save more before completion, the ability to choose your unit and finishes, and often lower pricing in the early sales phase. Move-in ready offers immediate possession with no construction period uncertainty. First-time buyers with a longer planning horizon typically benefit more from presale because the staged deposit structure gives more time to accumulate funds.
What do "homes priced from" figures actually mean?
The lowest advertised price is typically for the smallest or least sought-after unit, usually the lowest floor or least desirable orientation. Popular floor plans, higher floors, and better-oriented units carry price premiums that can range from $10,000 to $50,000 or more. Always confirm pricing for your specific unit before building your budget.
What happens if I decide I want to sell before the building is complete?
Full assignment of a Dawson + Sawyer presale contract to a new buyer is not permitted. If your circumstances change during the build period and you need to exit, you should speak directly with the Dawson + Sawyer sales team and your lawyer to understand your options. This is another reason why obtaining mortgage approval before the Rescission Period ends is so important.