When buying a pre-construction home in British Columbia, one of the most important — and often misunderstood — details is the deposit structure. While all BC markets follow provincial regulations, how and when deposits are paid can vary significantly depending on the city.
If you’re comparing Victoria to larger markets like Vancouver, here’s what you need to know.
How Deposit Structures Typically Work in Victoria
In Victoria, pre-construction developments commonly use staged deposit structures. Rather than requiring a large lump sum upfront, deposits are spread across multiple milestones during the build.
A common example in Victoria might look like:
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5% at writing
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5% once the contract goes firm
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5% at a later construction milestone, such as framing or a set date
This staged approach allows buyers to plan ahead and manage their cash flow over time, making pre-construction more accessible — especially for first-time buyers and local end-users.
How Other BC Markets Differ (Especially Vancouver)
In contrast, high-demand markets like Vancouver often require larger deposits earlier in the process. It’s not uncommon to see:
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10%–15% due shortly after writing
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Additional deposits required within a short time frame
These higher upfront requirements can be more challenging for buyers who need flexibility or time to move funds, sell an existing home, or continue saving.
Why This Difference Matters to Buyers
Understanding deposit structures helps you:
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Plan cash flow more effectively
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Avoid surprises during the buying process
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Decide which market best aligns with your financial situation
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Take advantage of opportunities that fit your timeline
Victoria’s buyer-friendly deposit schedules are one of the reasons many purchasers — including investors from other BC markets — find the city appealing for pre-construction purchases.
Every development is different, and deposit structures can vary by project. However, knowing how Victoria compares to other BC markets gives you a clear advantage when evaluating your options.
If you’re considering a new construction home in Victoria, working with a local expert ensures you fully understand deposit timelines, risks, and opportunities before committing.
