Buying new at Ellison Landing: the BC rules, costs and watch-outs

The path from first visit to keys

1. Step 1Choose your agent before you visit

   Name your buyer’s agent at your first visit, call or online registration. Why this comes first.

2. Step 2Register and get the numbers

   Lot prices, plans and specifications are released after registration. Ask for the disclosure statement, the purchase contract and the specification sheet together.

3. Step 3Run the true cost

   Add GST, transfer tax, legal fees and monthly fees. Use the cost calculator.

4. Step 4Sign, then use your seven days

   If the sale falls under REDMA, you have seven days to rescind. Book your lawyer and mortgage broker before you sign, not after.

5. Step 5Pay the deposit into trust

   Typically 10% at Predator Ridge, held in trust.

6. Step 6Build period

   For homes still under construction, such as the Spring 2027 Woodside completions, expect updates and possibly date changes.

7. Step 7Pre-delivery walkthrough

   Record every deficiency in writing. Use the checklist.

8. Step 8Completion and warranty

   Pay the balance, collect the keys and warranty certificate, and diarise your warranty deadlines.

GST: the biggest cost buyers underestimate

New homes bought from a builder carry 5% GST. BC has no provincial HST on homes, so 5% is the whole of it. Resale homes generally do not attract GST. Homesites bought from a developer carry GST too; the resort’s Outlook buyer sheet says “5% GST is payable on the purchase price of the lot” (Outlook buyer sheet).

There are two federal rebates, and at Ellison Landing prices neither goes far:

The older GST new housing rebate

It returns 36% of the GST up to $6,300, in full only up to $350,000, and it phases out to zero at $450,000 (Canada Revenue Agency rules; confirm current thresholds with your accountant). No Ellison Landing home qualifies.

The First-Time Home Buyers’ GST rebate (2026)

This rebate became law on 13 March 2026 (CHBA). It is worth up to $50,000 (all the GST) on new homes up to $1,000,000, then phases out in a straight line to zero at $1,500,000 (CRA). It applies to agreements of purchase and sale made on or after 20 March 2025 and before 2031.

To qualify, the CRA says you must be at least 18, a Canadian citizen or permanent resident, and buying the home as your primary residence. Neither you nor your spouse or common-law partner can have lived in a home that either of you owned as your primary residence in the current year or the four preceding calendar years, and neither of you can have claimed this rebate before (CRA eligibility). Builders can now credit the rebate on closing.

Few Ellison Landing buyers will be first-time buyers, but the example matters for people moving back to Canada or buying their first owned home after renting. Here is the arithmetic at the developer’s September 2026 prices, assuming each price is before GST:

BC property transfer tax

Property transfer tax (PTT) is paid when title is registered. The rates are 1% on the first $200,000, 2% from $200,000 to $2,000,000, 3% above $2,000,000, and a further 2% on residential value above $3,000,000 (BC government).

The newly built home exemption doesn’t reach these prices

For newly built homes registered on or after 1 April 2024, BC exempts PTT in full on a fair market value up to $1,100,000, partially between $1,100,000 and $1,150,000, and not at all above that. You must be a citizen or permanent resident, the home must become your principal residence within 92 days and stay that way for the rest of the first year, and the full exemption applies to properties of 0.5 hectares or less (BC government). Every published Ellison Landing price is above the cap, so plan on paying full PTT. BC’s first-time buyer PTT exemption has even lower caps.

Buyers from outside Canada

BC’s 20% additional transfer tax for foreign buyers applies in five regional districts: Capital, Fraser Valley, Metro Vancouver, Central Okanagan and Nanaimo. The North Okanagan is not one of them (BC government). Separately, the federal ban on non-Canadians buying residential property has been extended to 1 January 2027. Its exemptions depend on where a property is, so get legal advice before you make an offer.

The disclosure statement and your seven days

When a developer markets subdivided or strata lots, BC’s Real Estate Development Marketing Act (REDMA) generally requires a disclosure statement that sets out all material facts, given to you before the contract is signed. You can then rescind the contract by written notice within seven days after the later of signing the agreement and receiving the disclosure statement, and get your deposit back (BCFSA). Not every sale falls under REDMA, so confirm with your lawyer that it applies to your purchase.

What to look for in an Ellison Landing disclosure statement:

• Title and strata status. Is Woodside a bare-land strata? What are the budget, fees and bylaws?
• Fees. The community lands and amenities fee, landscape maintenance and any strata fees. Outlook’s sheet estimated $95 a month plus landscaping from $250 a month, but Ellison Landing’s numbers are its own.
• Design guidelines and approval process for custom homes.
• Build deadlines. Outlook had none (“there is no timeline to start to build a home”); check Ellison Landing’s.
• Rental restrictions, including short-term rentals.
• Completion date and how it can change, including outside dates.
• Building permit and financing status. If these weren’t in place at filing, the developer must disclose them within 12 months or buyers may be able to terminate (Meridian Law Group).
• Amendments. Disclosure statements can be amended. Read every amendment you receive.

Compare this with a resale home, where BC’s Home Buyer Rescission Period is only three business days and costs 0.25% of the price to use.

Deposits

Deposits on developer sales are held in trust by a lawyer, notary or brokerage (BCFSA). At Predator Ridge, 10% on signing has been the norm; the Outlook buyer sheet lists a 10% deposit on lots. On a $1,465,000 home that is $146,500. Ask who holds it, whether it earns interest and for whom, and whether a second deposit is due during construction.

The 2-5-10 home warranty

Every new home built by a licensed builder in BC must carry third-party warranty insurance under the Homeowner Protection Act (BC Housing):

Coverage starts at occupancy or title transfer, whichever comes first, and it stays with the home if you sell. Detached homes are covered up to the lesser of the purchase price or $200,000 (BC Housing). Check the builder and the home’s enrolment on the New Homes Registry.

Buying a homesite? Your builder must be licensed and must enrol your home. An owner-builder home is exempt from mandatory warranty, but the owner-builder is liable to future buyers for 10 years, and that can affect resale.

Assigning a contract before completion

REDMA’s standard contract language prohibits assignment without the developer’s consent (BCFSA). And BC’s home flipping tax applies to assignments of presale contracts: 20% of the profit if you held the contract under 366 days, declining to zero at 730 days, with no principal-residence deduction for assignments (BC government). Don’t buy a Spring 2027 home on the assumption you could sell the contract if plans change.

Buying a homesite for a custom build

• Get the lot plan and building envelope. The developer’s square-foot figures appear to be buildable area, not lot size.
• Match the plan to the slope. Rancher, walk-out and walk-up lots suit different designs and budgets.
• Price the build before you buy the lot. Talk to builders (the resort lists preferred builders) and your lender about construction financing.
• Budget GST twice. GST on the lot, and GST on the builder’s contract.
• Read the design guidelines for materials, heights, colours, landscaping and approval timelines.
• Ask about incentives. In May and June 2026 the developer advertised an electric lifestyle vehicle worth up to $21,000 with the next four homesites; ask what applies now.

Ongoing costs and local taxes

• Property tax: Predator Ridge is inside the City of Vernon. Vernon’s 2026 municipal residential tax increase was proposed at 9.33% in April 2026 (Vernon Matters). New homes are assessed once complete, so ask for an estimate. BC’s home owner grant is set at $570 from 2027 (Fasken).
• Speculation and vacancy tax: Predator Ridge is exempt, retroactive to January 2024 (Castanet, January 2026). That matters for part-time owners.
• Community and landscape fees: confirm in the disclosure statement.
• Optional golf: the Homeowner Golf Membership has a $55,000 initiation plus annual dues (resort membership page).
• Insurance: get a quote early; forest and grassland interface affects wildfire underwriting.

Can you rent it out?

Predator Ridge was exempted from BC’s short-term rental principal-residence requirement in March 2024 because the resort operates hotel-style, with a front desk, housekeeping and reservations (Castanet). Whether that exemption covers a new single-family home at Ellison Landing, and what the strata bylaws and City of Vernon licensing allow, is not confirmed. If rental income is part of your plan, get it in writing before you firm up.

Walkthrough and deficiency checklist

Tick items off as you go. Your progress is saved in this browser only.

• Book the pre-delivery walkthrough in writing, and bring your agent or an independent inspector.
• Bring the contract’s specification sheet and check every item: flooring, counters, appliances, fixtures, heat pump, air purification, radon system.
• Test every door, window, tap, drain, switch and outlet. Run the heat pump in both modes.
• Photograph and list every scratch, chip, crack, gap and paint flaw, including the garage and golf-cart bay.
• Check exterior grading slopes away from the house and downspouts discharge properly.
• Confirm what landscaping, fencing, blinds and window coverings are included, and when outstanding items will be finished.
• Both parties sign the deficiency list, with a completion date for each item.
• Confirm the occupancy permit is issued.
• Get the 2-5-10 warranty certificate and the provider’s claims procedure.
• Check the statement of adjustments with your lawyer: GST, any rebate credited, transfer tax, deposit and interest.
• Collect manuals, warranties, paint codes and keys, fobs and openers.
• Put the 12-month and 24-month warranty deadlines in your calendar, with a reminder a month before each.

General guidance only; your warranty provider’s written procedures govern claims.

Also worth reading: Sean’s guide to buying resale at Predator Ridge covers strata documents, fees and Form B reviews for established neighbourhoods.