Ask Jersey
Direct, factual, and quoteable answers from Jersey Li to the questions most frequently asked about Burnaby real estate, Bill 44 multiplex zoning, buying math, commissions, and local taxes.
About Jersey Li
Who is Jersey Li?
Jersey Li is a licensed REALTOR® in British Columbia, operating as a Personal Real Estate Corporation (PREC*) through Sutton Group — 1st West Realty. Based in Burnaby, Jersey specializes in residential sales, strata condo purchases, multiplex redevelopment under Bill 44, and strategic seller representation.
How do I contact Jersey Li?
You can reach Jersey by calling +1 (778) 991-0051, emailing hello@jerseyli.com, or visiting the office at Sutton Group — 1st West Realty, 3012 Boundary Road, Burnaby, BC V5M 4A1.
What areas of Metro Vancouver does Jersey serve?
Jersey primarily serves Burnaby, BC, including the key enclaves of Brentwood, Metrotown, Burnaby Heights, Deer Lake, Edmonds, and South Burnaby. He also assists clients with transactions in Vancouver, New Westminster, and Coquitlam.
Multiplex & Bill 44 Zoning
What is Bill 44 in Burnaby?
Bill 44 is provincial legislation requiring BC municipalities to allow Small-Scale Multi-Unit Housing (SSMUH) on single-family and duplex lots. In Burnaby, this permits up to 3, 4, or 6 units depending on the lot size, shape, and proximity to transit hubs, bypassing traditional rezoning delays.
How many units can I build on a single lot in Burnaby?
Under SSMUH guidelines, you can generally build 3 units on lots under 280 sq m (approx 3,013 sq ft), 4 units on lots between 280 and 281 sq m, and up to 6 units on larger lots (above 281 sq m) that are located near frequent transit service routes.
Does my property command a developer premium due to multiplex zoning?
Not necessarily. Only lots that check feasibility boxes (such as lane access, adequate frontage, flat topography, no restrictive covenants, and minimal mature tree interference) will attract builder premiums. Traditional single-family buyers may pay more for non-conforming lots.
Buying in Burnaby
What is the minimum down payment when buying a home in Burnaby?
In Canada, the minimum down payment is 5% on the first $500,000 of purchase price, 10% on the portion between $500,000 and $1,499,999, and a flat 20% minimum down payment on homes priced at $1,500,000 and above.
What are the typical closing costs for a buyer in BC?
Buyers should budget 1.5% to 3% of the purchase price for closing costs. These include BC Property Transfer Tax (PTT), legal/notary fees (approx. $1,500), home inspection fees ($500), title insurance ($250), and utility/strata adjustments.
Are there Property Transfer Tax exemptions for first-time buyers in BC?
Yes. First-time home buyers who are Canadian citizens or PRs are fully exempt from BC Property Transfer Tax (PTT) on homes purchased up to $835,000. A partial exemption applies to homes priced between $835,000 and $860,000.
What is the BC Home Buyer Rescission Period?
BC's Home Buyer Rescission Period (HBRP) gives residential buyers a mandatory 3 business days to back out of a contract after an offer is accepted. The fee for backing out is 0.25% of the purchase price, paid to the seller.
Selling in Burnaby
How much is real estate commission in Burnaby?
Standard real estate commission in BC is 7% on the first $100,000 of the sale price and 2.5% on the remaining balance, split between the listing and buying brokerages. Commission is subject to 5% GST.
How long does it take to sell a house in Burnaby?
In balanced market conditions, expect 30 to 45 days on market from listing to accepted offer. In slower buyer's markets, properties may take 60 to 90 days. Multiplex-zoned lots with clear developer potential marketed to builder pools often sell faster.
Should I list my lot for residential buyers or builders?
It depends on the zoning potential. For properties with clean development options, Jersey utilizes a dual-pool marketing strategy, targeting builders and traditional end-users simultaneously to maximize the final sale price.
Local Taxes & Rules
Does Burnaby have an Empty Homes Tax?
No. The municipal Empty Homes Tax (3%) applies only within the City of Vancouver. However, properties in Burnaby are subject to the provincial BC Speculation and Vacancy Tax (0.5% for Canadian citizens/PRs; 2.0% for foreign owners) if left empty.
Can a foreign buyer purchase a home in Burnaby?
The Canadian federal ban on foreign home purchases is in effect until January 1, 2027. Foreign entities cannot purchase residential property unless they fall under specific exemptions, such as holding qualifying work or study permits.
Get answers tailored to your specific lot.
Every property has unique factors — setback limits, utility locations, or easement restrictions. A short phone call or email can clarify your potential.