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    BC Closing Cost Calculator

    By Hami Tahm · Last reviewed October 2026

    How much are closing costs when buying a house in BC?

    The biggest one is BC property transfer tax: $13,000 on a $750,000 home (1% on the first $200,000, 2% up to $2 million). First-time buyers can cut that by up to $8,000, and a qualifying new build can be fully exempt. Add legal or notary fees, title insurance, an inspection and property-tax adjustments on top — the calculator below totals them for your price.

    Purchase Details

    $150,000

    Additional Fees

    Total Cash Needed

    $168,250

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    Cost Breakdown

    Down Payment$150,000
    BC Property Transfer Tax$13,000
    Legal Fees$2,000
    Title Insurance$400
    Home Inspection$500
    Appraisal$350
    Moving Costs$2,000
    Total Closing Costs$18,250

    Key Takeaways

    • BC property transfer tax (PTT) is 1% on the first $200,000, 2% from $200,000 to $2,000,000, 3% from $2,000,000 to $3,000,000 and 5% above $3,000,000.
    • First-time buyers pay no PTT up to $500,000 and get up to $8,000 off up to $835,000, tapering to nothing at $860,000.
    • A newly built home is fully exempt up to $1,100,000, tapering to nothing at $1,150,000. You take whichever exemption is larger — they don't stack.
    • Legal or notary fees, title insurance, inspection, appraisal and property-tax adjustments come on top of PTT.

    BC property transfer tax by purchase price

    Computed from the same PTT engine the calculator uses. Exemptions have eligibility rules beyond price — residency, first-time status and occupancy.
    Purchase priceBC PTTFirst-time buyer paysNew build (if eligible) pays
    $500,000$8,000$0$0
    $750,000$13,000$5,000$0
    $1,000,000$18,000$18,000$0
    $1,500,000$28,000$28,000$28,000

    For the bracket-by-bracket breakdown and every exemption rule, see the BC property transfer tax calculator.

    Other BC closing costs to budget for

    Beyond PTT, BC buyers typically pay a lawyer or notary to handle the conveyance, title insurance, a home inspection, and an appraisal if the lender requires one. On closing day the seller is credited for any property tax or strata fees they've prepaid past the completion date. Buying a newly built home can also bring GST of 5% on the price, which a separate rebate may partly offset — the calculator above adds it when you select a new build.

    If you need to walk away: the rescission fee

    Since 2023, BC buyers can cancel an accepted offer within three business days by paying the seller 0.25% of the price. Work out your exact deadline and fee with the BC rescission period calculator.

    Frequently asked questions

    The main ones are BC property transfer tax, legal or notary fees for the conveyance, title insurance, a home inspection, an appraisal if your lender wants one, and property-tax or strata-fee adjustments with the seller on completion day. A newly built home can also carry 5% GST. Property transfer tax is by far the largest item on most purchases.

    1% on the first $200,000 of the fair market value, 2% on the portion from $200,000 to $2,000,000, 3% on the portion from $2,000,000 to $3,000,000, and 5% on anything above $3,000,000 for residential property. On a $750,000 home that comes to $13,000.

    Not on a home up to $500,000 — the first-time home buyers' exemption covers the full tax. Between $500,000 and $835,000 it takes up to $8,000 off, and the relief tapers to zero at $860,000. You also need to meet the residency and first-time-buyer conditions and live in the home.

    A qualifying newly built home is fully exempt up to $1,100,000, with partial relief tapering to zero at $1,150,000. It's a separate exemption from the first-time buyer one — you get whichever is larger, not both. New builds can still owe 5% GST.

    Closing costs are generally paid in cash on or before completion, separate from your down payment — lenders typically want to see you have funds for them on top of the down payment. A CMHC insurance premium is the exception: it's added to the mortgage balance rather than paid at closing.

    Sources

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    Hami Tahm

    Hami Tahm — Founder of HomeCalc.ca and an AI Visibility Consultant in Toronto. I write about Canadian mortgages and land transfer tax, and I use HomeCalc as a live experiment in how AI answer engines choose what to cite. hamitahm.com →

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