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Frequently Asked · Closing Costs
How much are closing costs in BC?
The complete line-item breakdown
As of
General information only — not legal, tax, financial, or real-estate advice. Verify with a licensed BC professional before acting.
Closing costs in BC typically total 1.5%–4% of purchase price. Here's every line item.
Answers
Property Transfer Tax (PTT)
1% on the first $200K + 2% on the portion $200K–$2M + 3% on $2M–$3M + 5% above $3M. First-time buyer exemption available under $835K (2024). See /glossary/property-transfer-tax-ptt.
GST (new homes only)
5% GST on new-build homes. 36% rebate available up to $350K purchase price; sliding scale to zero at $450K.
Legal/notary fees
$1,500–$2,500 typical for a straightforward residential purchase with mortgage.
Title insurance
$300–$500 one-time. Often required by the lender.
Home inspection
$500–$800 for a standard detached home. More for acreage or heritage properties.
Property Tax and Strata Fee adjustments
Pro-rated at closing — you reimburse the seller for the portion of the year they've prepaid.
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