If you've got the ability to purchase a home in the 4M range, it seems like purchasing a late-90s/early-2000s luxury spec home to renovate on a 10K square foot lot would be a better deal. Something like this, but probably in a more central location:
https://www.zealty.ca/mls-R2671223/3...-Coquitlam-BC/
Open floor plans with 'great rooms', large windows, stucco finishing, tile roofs, pex plumbing, ducting throughout and likely better framing. Aside from dated interior materials like dark granite and tile in wet areas, I can't see many downsides.