Closing costs in B.C.: the full checklist beyond the purchase price
Beyond the down payment, a B.C. purchase carries a stack of one-time costs. Here is the full checklist, with rough ranges, so nothing blindsides you at completion.
Your down payment is the headline number, but it is not the only cash you need at completion. As a rule of thumb, budget roughly 1.5%–4% of the purchase price for closing costs — the exact figure driven mostly by whether Property Transfer Tax applies and whether the home is a new build subject to GST.
The checklist
| Cost | Typical range | Notes |
|---|---|---|
| Property Transfer Tax | e.g. $14,000 on $800k | Often the largest line; may be reduced by an exemption |
| Legal / notary fees | $1,300–$2,500 | Title transfer, mortgage registration, adjustments |
| Title insurance | $200–$400 | Often required by the lender |
| Appraisal | $300–$600 | Sometimes covered by the lender |
| Home inspection | $400–$800 | Optional but recommended; add-ons extra |
| GST (new homes only) | 5% of price | Resale homes are GST-exempt |
| Property-tax / utility adjustments | Varies | Reimburse the seller for prepaid amounts |
| Strata fees (Form B, move-in) | $25–$300+ | Strata properties only |
| Home insurance | ~$800–$1,200/yr | Proof required before completion |
Typical 2026 ranges — every transaction differs. Figures for illustration, not a quote.
Your deposit is not an extra cost
The deposit you paid earlier is credited toward your down payment at completion — it is not added on top. See how deposits work.
The big one: Property Transfer Tax
For most buyers, PTT is the single largest closing cost — and the one most likely to be reduced or erased by an exemption. It has its own tiered calculation and worked example in the Property Transfer Tax guide.
A common surprise: PST on mortgage insurance
If your down payment is under 20%, you pay for mortgage default insurance (CMHC, Sagen or Canada Guaranty). The premium itself is added to your mortgage — but the PST on that premium is payable in cash at completion. It catches many first-time buyers off guard.
Sources
GeoHouse is a technology company — not a licensed real estate brokerage, REALTOR®, lawyer, or financial advisor. This article is general education about how the process works in British Columbia, not advice for your specific transaction. Rules and figures change; confirm current details through the official sources linked above and consult a licensed REALTOR®, mortgage broker, lawyer, or notary before making decisions.