2
$849,900
$763/sqft
2 bd · 2 ba · 1,114 sqft
#1902, 6188 Patterson Avenue
Burnaby · Apartment/Condo
Listed by Team 3000 Realty Ltd.MLS® R3182086
Cost of buying in Burnaby
The cost of buying a home in Burnaby
At the $858,000 median, you need $79,010 to close. That is the minimum down payment plus closing costs.
- Median asking
- $858K
- Closing costs
- $18K
- Minimum down
- $61K
- Cash to close
- $79K
Source: BCRES MLS® median asking price.
Cash to close
Starts at the median asking price in Burnaby. Enter your own.
Minimum down payment
$60,800
Closing costs
$18,210
Cash to close
$79,010
Cash to close is the minimum down payment plus closing costs.
- Median asking
- $858K
- Closing costs
- $18K
- Minimum down
- $61K
- Cash to close
- $79K
Source: BCRES MLS® median asking price.
Where the money goes
On a $858,000 home.
Closing costs, $18,210
| Cost | Amount |
|---|---|
Property transfer tax1% on the first $200,000, 2% to $2,000,000, 3% above. | $15,160 |
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 | $18,210 |
Minimum down payment5% of the first $500,000, 10% above that, 20% of the whole price from $1,500,000. | $60,800 |
Cash to closeMinimum down payment plus closing costs. | $79,010 |
- Default insurance of about $31,888 is added to the mortgage, not paid in cash.
- Not included: adjustments ($300 to $2,000) and moving ($500 to $3,000).
At the Burnaby median
The median asking price in Burnaby is $858,000. On a purchase at that price the closing costs come to roughly $18,210, about 2.1% of the price, on top of your down payment.
Property transfer tax is the largest single piece at $15,160. The rest is legal and conveyancing, an inspection, an appraisal and title insurance, which together run about $3,050.
A qualifying first-time buyer would pay $14,520 of that transfer tax instead of $15,160, bringing closing costs to about $17,570. The exemption carries residency and prior-ownership conditions, so treat it as a figure to confirm rather than assume.
The minimum down payment on $858,000 is $60,800, which puts the cash needed to close at roughly $79,010, or $78,370 as a first-time buyer.
As a share of price, that is in line with the rest of the province, where the median is about 2.1%.
Homes near $858K in Burnaby
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$829,000
$610/sqft
3 bd · 3 ba · 1,359 sqft
#5, 7433 16 Street
Burnaby · Townhouse
Listed by Multiple Realty Ltd.MLS® R3182139
18
$775,000
$917/sqft
2 bd · 2 ba · 845 sqft
#2408, 7388 Kingsway
Burnaby · Apartment/Condo
Listed by RE/MAX City RealtyMLS® R3167331
34
$799,000
$933/sqft
2 bd · 2 ba · 856 sqft
#1302, 6511 Sussex Avenue
Burnaby · Apartment/Condo
Listed by RE/MAX Colonial Pacific RealtyMLS® R3178981
20
$788,000
$991/sqft
2 bd · 2 ba · 795 sqft
#305, 2085 Skyline Court
Burnaby · Apartment/Condo
Listed by LeHomes Realty PremierMLS® R3181999
36
$799,000
$864/sqft
2 bd · 2 ba · 925 sqft
#1607, 6638 Dunblane Avenue
Burnaby · Apartment/Condo
Listed by eXp RealtyMLS® R3111513
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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Closing costs in other BC cities
Vancouver
About $28,050 in closing costs
See the breakdown
Surrey
About $21,550 in closing costs
See the breakdown
Richmond
About $21,420 in closing costs
See the breakdown
Kelowna
About $16,450 in closing costs
See the breakdown
Langley
About $20,847 in closing costs
See the breakdown
Abbotsford
About $17,140 in closing costs
See the breakdown
Coquitlam
About $20,220 in closing costs
See the breakdown
Chilliwack
About $16,048 in closing costs
See the breakdown
Questions
How much are closing costs in Burnaby?
About $18,210 on the $858,000 median price, or 2.1%. Transfer tax is $15,160 of that.
How much cash do I need to close on a home in Burnaby?
About $79,010 at the $858,000 median. That is the minimum down payment of $60,800 plus $18,210 in closing costs.
How much property transfer tax will I pay in Burnaby?
On a $858,000 purchase the property transfer tax is $15,160. British Columbia charges 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. A qualifying first-time buyer would pay $14,520 instead.
Who qualifies for 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. Conditions apply. Check with gov.bc.ca before you rely on it.
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.