45
$698,800
$589/sqft
2 bd · 2 ba · 1,187 sqft
#242, 1088 Sunset Drive
Kelowna · Single Family
Listed by Royal LePage KelownaMLS® 10395938
Cost of buying in BC
The cost of buying a home in BC
Enter a price to see the cash you need to close.
- Cities covered
- 50
- Typical closing costs, share of price
- 2.1%
- First-time buyer saving, up to
- $8K
- Minimum down from
- 5%
Cash to close
Starts at the median asking price in BC. Enter your own.
Minimum down payment
$52,000
Closing costs
$16,450
Cash to close
$68,450
Cash to close is the minimum down payment plus closing costs.
- Cities covered
- 50
- Typical closing costs, share of price
- 2.1%
- First-time buyer saving, up to
- $8K
- Minimum down from
- 5%
Where the money goes
On a $770,000 home.
Closing costs, $16,450
| Cost | Amount |
|---|---|
Property transfer tax1% on the first $200,000, 2% to $2,000,000, 3% above. | $13,400 |
Legal and conveyancingA typical fee, not a quote. | $1,800 |
Home inspectionDone before your offer is final. | $600 |
AppraisalOften required by the lender. | $400 |
Title insurance | $250 |
Closing costs | $16,450 |
Minimum down payment5% of the first $500,000, 10% above that, 20% of the whole price from $1,500,000. | $52,000 |
Cash to closeMinimum down payment plus closing costs. | $68,450 |
- Default insurance of about $28,720 is added to the mortgage, not paid in cash.
- Not included: adjustments ($300 to $2,000) and moving ($500 to $3,000).
Homes near $770K in BC
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Draw an area and save homes you like.
52
$699,000
$695/sqft
2 bd · 2 ba · 1,006 sqft
#303, 640 Wardlaw Avenue
Kelowna · Single Family
Listed by REMAX KelownaMLS® 10393830
47
$839,000
$838/sqft
2 bd · 1 ba · 1,001 sqft
3904 Wilkinson Road
Saanich · Single Family
Listed by Royal LePage Coast Capital - ChattertonMLS® 1052515
34
$699,900
$472/sqft
2 bd · 3 ba · 1,482 sqft
#32, 703 Turner Road
Parksville · Single Family
Listed by eXp Realty (CX)MLS® 1051116
36
$699,900
$472/sqft
2 bd · 3 ba · 1,482 sqft
#34, 703 Turner Road
Parksville · Single Family
Listed by eXp Realty (CX)MLS® 1051129
35
$779,000
$384/sqft
6 bd · 2 ba · 2,031 sqft
1044 FIRCREST Road
Gibsons · Single Family
Listed by Royal LePage SussexMLS® R3164663
NOTE: This representation is based in whole or in part on data generated by the Chilliwack & District Real Estate Board, Fraser Valley Real Estate Board or Real Estate Board of Greater Vancouver which assumes no responsibility for its accuracy. The information contained on this site is based in whole or in part on information that is provided by members of The Canadian Real Estate Association (CREA), who are responsible for its accuracy. CREA reproduces and distributes this information as a service for its members and assumes no responsibility for its accuracy. MLS®, Multiple Listing Service®, and REALTOR® are trademarks of the Canadian Real Estate Association (CREA).
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Property transfer tax, band by band
Each rate applies only to the part of the price in its band.
| Part of the price | Rate |
|---|---|
| First $200,000 | 1% |
| $200,000 to $2,000,000 | 2% |
| Above $2,000,000 | 3% |
| Residential value above $3,000,000 | A further 2% |
| Price | Transfer tax | First-time buyer | Newly built |
|---|---|---|---|
| $500,000 | $8,000 | $0 | $0 |
| $800,000 | $14,000 | $6,000 | $0 |
| $1,200,000 | $22,000 | $22,000 | $22,000 |
| $2,000,000 | $38,000 | $38,000 | $38,000 |
A first-time buyer who qualifies pays no transfer tax on the first $500,000, saving up to $8,000, on a home priced up to $835,000. The saving shrinks between $835,000 and $860,000 and ends above that.
A newly built home pays no transfer tax up to $1,100,000. The saving shrinks to nothing at $1,150,000, and you do not need to be a first-time buyer. You can claim only one of these exemptions.
Conditions apply. Check with gov.bc.ca before you rely on an exemption.
Transfer tax calculatorClosing costs by city
At each city’s median asking price.
Vancouver
Median $1.35M
About $28,048 in closing costs
Surrey
Median $1M
About $21,048 in closing costs
Burnaby
Median $850K
About $18,050 in closing costs
Richmond
Median $1.04M
About $21,830 in closing costs
Kelowna
Median $770K
About $16,450 in closing costs
Langley
Median $989K
About $20,830 in closing costs
Abbotsford
Median $800K
About $17,048 in closing costs
Coquitlam
Median $959K
About $20,230 in closing costs
Chilliwack
Median $750K
About $16,048 in closing costs
North Vancouver
Median $1.30M
About $27,030 in closing costs
Kamloops
Median $640K
About $13,848 in closing costs
Maple Ridge
Median $1.10M
About $23,050 in closing costs
Nanaimo
Median $677K
About $14,589 in closing costs
Prince George
Median $395K
About $8,948 in closing costs
Vernon
Median $620K
About $13,450 in closing costs
Delta
Median $1.26M
About $26,250 in closing costs
Mission
Median $879K
About $18,630 in closing costs
New Westminster
Median $699K
About $15,038 in closing costs
West Kelowna
Median $729K
About $15,630 in closing costs
West Vancouver
Median $3M
About $70,990 in closing costs
Victoria
Median $725K
About $15,550 in closing costs
Langford
Median $700K
About $15,048 in closing costs
Saanich
Median $1.10M
About $23,030 in closing costs
Penticton
Median $625K
About $13,550 in closing costs
Port Coquitlam
Median $900K
About $19,047 in closing costs
Whistler
Median $1.75M
About $36,030 in closing costs
Osoyoos
Median $449K
About $10,030 in closing costs
White Rock
Median $1.13M
About $23,650 in closing costs
Port Moody
Median $1.10M
About $23,010 in closing costs
Campbell River
Median $650K
About $14,048 in closing costs
Squamish
Median $1.01M
About $21,300 in closing costs
Sechelt
Median $799K
About $17,030 in closing costs
Lake Country
Median $980K
About $20,650 in closing costs
Courtenay
Median $742K
About $15,890 in closing costs
Sooke
Median $780K
About $16,648 in closing costs
Salmon Arm
Median $659K
About $14,230 in closing costs
Duncan
Median $800K
About $17,048 in closing costs
Port Alberni
Median $544K
About $11,939 in closing costs
Fort St. John
Median $384K
About $8,730 in closing costs
Powell River
Median $540K
About $11,850 in closing costs
Quesnel
Median $325K
About $7,550 in closing costs
Gibsons
Median $949K
About $20,030 in closing costs
Oliver
Median $735K
About $15,750 in closing costs
Qualicum Beach
Median $870K
About $18,450 in closing costs
Summerland
Median $750K
About $16,050 in closing costs
Parksville
Median $768K
About $16,412 in closing costs
Hope
Median $657K
About $14,180 in closing costs
Dawson Creek
Median $356K
About $8,175 in closing costs
Merritt
Median $380K
About $8,649 in closing costs
Williams Lake
Median $456K
About $10,170 in closing costs
Questions
What is cash to close when buying a home in BC?
The minimum down payment plus closing costs, paid on completion day. The largest closing cost is property transfer tax: 1% on the first $200,000, 2% on the portion to $2,000,000, and 3% above that, with a further 2% on residential value over $3,000,000.
How much is the first-time home buyer exemption in BC?
A first-time buyer who qualifies pays no transfer tax on the first $500,000, saving up to $8,000, on a home priced up to $835,000. The saving shrinks between $835,000 and $860,000 and ends above that. You must be a citizen or permanent resident, live in BC, and never have owned a principal residence anywhere.
What is the minimum down payment in Canada?
5% of the first $500,000, 10% of the portion above that, and 20% of the whole price once it reaches $1,500,000, where mortgage default insurance is not available.
Can closing costs go on the mortgage?
No. You pay them from savings. Only the default insurance premium, under 20% down, is added to the mortgage.
Prepared by
Written and maintained by Ray Rasouli, REALTOR®, licensed in British Columbia and founder of Relta Real Estate.
Data
Source: BCRES MLS® asking prices, with tax rates from gov.bc.ca and canada.ca.
NOTE: This representation is based in whole or in part on data generated by the Chilliwack & District Real Estate Board, Fraser Valley Real Estate Board or Real Estate Board of Greater Vancouver which assumes no responsibility for its accuracy. The information contained on this site is based in whole or in part on information that is provided by members of The Canadian Real Estate Association (CREA), who are responsible for its accuracy. CREA reproduces and distributes this information as a service for its members and assumes no responsibility for its accuracy. MLS®, Multiple Listing Service®, and REALTOR® are trademarks of the Canadian Real Estate Association (CREA).
CorrectionsReport a correction
Rates verified against gov.bc.ca on 2026-07-22. Other costs are typical amounts, not quotes. Not tax or legal advice.