Not every property type
fits every buyer's plan.
The property-type decision sounds obvious — it isn't. I've watched buyers rule out condos because they "want a yard eventually" and end up in a townhome that stretches their finances to the point where they can't hold it through a down patch. I've also watched buyers buy detached in a neighbourhood that never recovered the way they expected. The right type depends on what you actually need from the purchase — not what sounds best at a dinner party.
2026 price benchmarks by property type
The Greater Vancouver REALTORS April 2026 report puts the regional benchmarks as follows — Burnaby tracks the regional pattern, with individual pockets and buildings varying:
Source: Greater Vancouver REALTORS, MLS® HPI benchmark prices, April 2026.
Side-by-side comparison
Strata fees — the cost buyers underestimate
Both condos and townhomes typically come with strata fees. The fee itself is not the issue. The issue is what the fee is actually funding. A building charging $600/month with a healthy reserve fund and a current depreciation report is in far better shape than one charging $350/month with a depleted contingency reserve and repairs overdue.
Before you commit to any strata property, read the strata documents: the depreciation report, contingency reserve fund balance, recent meeting minutes, and insurance certificate. A unit with a cheap price and thin reserves is not a deal — it is a deferred liability. The due diligence guide covers exactly how to use the subject-removal period to check all of this.
The Burnaby-specific twist: Bill 44 and redevelopment
If you are buying a detached home or lot, the conversation is more complex than price and condition. Since Bill 44 and the R1 SSMUH rules, many detached lots in Burnaby can be redeveloped into three to six units. That creates a second value layer — what an end-user family would pay versus what a builder would pay for the redevelopment upside. Pricing a detached purchase without understanding this is leaving money on the table, or paying for upside you don't want.
Condos and most townhomes have no individual redevelopment potential under Bill 44 — the strata corporation owns the land collectively. This is neither good nor bad; it just means the investment thesis for a condo or townhome rests on appreciation and rental income, not redevelopment optionality.
Who each type is actually for
There is no universal right answer. Here is how I frame the decision for most buyers:
- Condo —First-timers with a budget in the $650k–$850k range; commuters who want SkyTrain walking distance; investors targeting a Metrotown or Brentwood location with strong rental demand. Key variable: building quality and reserve fund health.
- Townhome —Families who need two or three bedrooms and ground-level access; upsizers stepping from a condo who aren't ready for full-detached costs; buyers in Edmonds or South Burnaby who want more space per dollar. Fewer new ones being built means tighter supply, which has historically cushioned values.
- Detached —Long-hold buyers who want land and optionality; families needing full autonomy over renovations and use; buyers with a 10-year horizon who want to benefit from Burnaby's ongoing infill and transit investment. Many lots now have a second value to a builder — understanding that before you buy is essential.
Key Takeaways
- 01.Burnaby apartment benchmark: $703k (−7.9% YoY). Townhome: $1.04M (−5.1%). Detached: $1.84M (−8.3%). All benchmarks per GVR April 2026.
- 02.Strata fees are not the issue — reserve fund health is. Read the depreciation report before committing to any strata property.
- 03.Condos and most townhomes have no individual redevelopment potential under Bill 44. Detached lots often do — that second value layer changes the investment thesis.
- 04.Match the type to your actual plan — budget, timeline, lifestyle needs — not what sounds best.
Benchmark prices are region-wide and move monthly. Your specific purchase price depends on building, location, and condition. Confirm current comparables with your REALTOR® before making decisions.
Frequently Asked Questions
Should I buy a condo or a townhome in Burnaby as a first-time buyer?
For most first-timers, a condo is the realistic entry point. The April 2026 benchmark was $703,000 for apartments versus $1.04M for townhomes — a $340,000 gap that the first-time buyer programs alone cannot close. If your budget genuinely reaches a townhome, it offers more space and often stronger long-term value per square foot. But buying the best condo you can afford in a well-run building near transit is a sound first move.
Are strata fees on Burnaby condos too high to make them a good investment?
Fees are a cost but not automatically a deal-killer. A building with high fees and a healthy reserve fund is often a better investment than a low-fee building with a depleted contingency reserve that will hit owners with a special assessment. Read the depreciation report and the contingency reserve fund balance, not just the monthly fee line.
What should I check in a strata depreciation report before buying a Burnaby condo?
Check the projected remaining life of the major components (roof, building envelope, elevators, pipes) and compare it to the current reserve fund balance. If a $600,000 roof replacement is due in 8 years and the reserve fund holds $200,000, that gap will come from owners as a special assessment. The guide to reading strata documents walks through this in detail.
Can I redevelop a Burnaby townhome under Bill 44?
It depends entirely on whether the land under the townhome is owned as freehold by the strata corporation or as bare land strata. Most high-rise and wood-frame townhome stratas own the land collectively, and individual owners have no redevelopment rights. Bare-land or coach-house arrangements are different. Check title and the strata plan with a lawyer before assuming any development potential.
Which Burnaby neighbourhoods have the most condo inventory?
Brentwood and Metrotown have the deepest condo selection — both are designated town centres with high-rise density along the Expo and Millennium SkyTrain lines. Lougheed has new inventory coming as the City of Lougheed master plan develops. Edmonds has a growing mid-rise market offering better value per square foot than the central hubs.
Is a Burnaby townhome a better investment than a condo?
Townhomes have historically held value better in downturns partly because supply is tighter — fewer new townhomes are built compared to condos. In 2026, townhomes are down 5.1% year-over-year versus 7.9% for apartments. For a family buyer, the extra space and private entrance often justify the premium. For a pure investor, the cap rate calculation usually favours a well-located condo.
Sources & References
- Monthly Market Report — benchmark prices by property type — Greater Vancouver REALTORS
- Average rent in Burnaby — 1-bed and 2-bed trends — Zumper
- Strata Property Act — BC strata regulations — Province of British Columbia