Buyer Closing Costs in BC: The Complete Checklist Beyond Your Down Payment (2026)

Most first-time buyers save hard for the down payment and think that is the whole picture. Then, right before completion, they learn about closing costs — the extra fees that must be paid to legally take ownership. Get caught off guard and you can be short of cash at the worst possible moment. The fix is simple: know the full list ahead of time and budget for it. Here is everything a BC buyer should expect.

Property transfer tax (usually the biggest one)

BC charges a property transfer tax (PTT) every time a property changes hands. It is calculated on the purchase price and can be thousands of dollars. Eligible buyers may qualify for the first-time buyer or newly built home exemption, but BC does not allow both programs on the same transfer. This is often the single largest closing cost, so read our full guide on BC property transfer tax and ask your conveyancer which rules apply.

Legal or notary fees

You need a lawyer or notary to handle the paperwork, register the title, and manage the money at closing. Budget roughly $1,000–$1,800 including their fee and the small government registration charges. (Not sure which to hire? See notary vs lawyer for your home purchase.)

Home inspection

A professional home inspection typically costs $400–$700 and is money well spent — it can reveal expensive problems before you commit. See our home inspection checklist for what a good one covers.

GST (on new homes only)

If you are buying a brand-new or presale home, you generally pay 5% GST on top of the price. Resale homes generally do not have GST. The standard new-housing rebate is limited and phases out by $450,000; eligible first-time buyers may qualify for the larger federal rebate on a builder purchase, subject to buyer, occupancy and construction-date rules. A rebate not credited by the builder may need a separate CRA application and will not reduce cash due at closing. Read presale completion costs and GST rebates and confirm your case with CRA and your conveyancer.

The smaller costs that add up

• Appraisal fee — sometimes required by the lender, roughly $300–$500.
• Title insurance — often around $150–$300, protecting against title issues.
• Property tax and utility adjustments — you reimburse the seller for anything they prepaid past your possession date.
• Home/fire insurance — lenders require proof of coverage before completion.
• Moving costs — easy to forget, but real.

A safe rule of thumb

Beyond your down payment, budget 1.5% to 4% of the purchase price for closing costs (higher if PTT is not exempt or GST applies). Having this ready in cash — separate from your down payment — is what keeps a purchase smooth.

Frequently asked questions

How much are closing costs for a buyer in BC? As a rule of thumb, budget 1.5% to 4% of the purchase price on top of your down payment. The exact amount depends mainly on property transfer tax, whether GST applies, and legal fees.

What is the biggest closing cost when buying in BC? For many buyers it is the property transfer tax, which is calculated on the purchase price. Eligible buyers may qualify for one of BC's first-time buyer or newly built-home exemptions, subject to separate conditions.

Do I pay GST when buying a home in BC? New or presale homes generally have 5% GST; resale homes generally do not. The standard rebate is limited, while eligible first-time buyers may qualify for a larger federal rebate on some builder purchases. The amount and when it is paid depend on CRA eligibility and whether the builder credits it at closing.

Are closing costs part of my down payment? No. Closing costs are separate cash you need in addition to your down payment. Keep them in a separate budget so you are not caught short at completion.

Want your exact closing-cost estimate? Ask Phan.

Every purchase is a little different, and the numbers matter. Phan speaks Vietnamese and English and can give you a clear, honest estimate of your full closing costs before you make an offer — no surprises. Call or message Phan.