50
$919,000
$381/sqft
4 bd · 3 ba · 2,409 sqft
13009 Gibbons Drive
Lake Country · Single Family
Listed by Royal LePage KelownaMLS® 10400432
Cost of buying in Lake Country
The cost of buying a home in Lake Country
At the $979,500 median, you need $93,590 to close. That is the minimum down payment plus closing costs.
- Median asking
- $980K
- Closing costs
- $21K
- Minimum down
- $73K
- Cash to close
- $94K
Source: BCRES MLS® median asking price.
Cash to close
Starts at the median asking price in Lake Country. Enter your own.
Minimum down payment
$72,950
Closing costs
$20,640
Cash to close
$93,590
Cash to close is the minimum down payment plus closing costs.
- Median asking
- $980K
- Closing costs
- $21K
- Minimum down
- $73K
- Cash to close
- $94K
Source: BCRES MLS® median asking price.
Where the money goes
On a $979,500 home.
Closing costs, $20,640
| Cost | Amount |
|---|---|
Property transfer tax1% on the first $200,000, 2% to $2,000,000, 3% above. | $17,590 |
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 | $20,640 |
Minimum down payment5% of the first $500,000, 10% above that, 20% of the whole price from $1,500,000. | $72,950 |
Cash to closeMinimum down payment plus closing costs. | $93,590 |
- Default insurance of about $36,262 is added to the mortgage, not paid in cash.
- Not included: adjustments ($300 to $2,000) and moving ($500 to $3,000).
At the Lake Country median
The median asking price in Lake Country is $979,500. On a purchase at that price the closing costs come to roughly $20,640, about 2.1% of the price, on top of your down payment.
Property transfer tax is the largest single piece at $17,590. The rest is legal and conveyancing, an inspection, an appraisal and title insurance, which together run about $3,050.
At this price the first-time buyer exemption does not apply. It phases out between $835,000 and $860,000 and is gone above that, so in Lake Country it reaches only the lower end of the market.
The minimum down payment on $979,500 is $72,950, which puts the cash needed to close at roughly $93,590.
As a share of price, that is in line with the rest of the province, where the median is about 2.1%.
Homes near $980K in Lake Country
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51
$999,000
$437/sqft
5 bd · 3 ba · 2,285 sqft
#27, 19950 McCarthy Road
Lake Country · Single Family
Listed by Century 21 Assurance Realty LtdMLS® 10372355
87
$945,000
$314/sqft
6 bd · 3 ba · 3,014 sqft
10330 Meadow Road
Lake Country · Single Family
Listed by Coldwell Banker Executives RealtyMLS® 10405106
82
$899,000
$417/sqft
4 bd · 3 ba · 2,154 sqft
10551 Sherman Drive
Lake Country · Single Family
Listed by REMAX KelownaMLS® 10403271
48
$975,000
$298/sqft
4 bd · 4 ba · 3,269 sqft
9671 Celeste Road
Lake Country · Single Family
Listed by Royal LePage KelownaMLS® 10402646
72
$966,600
$441/sqft
2 bd · 3 ba · 2,192 sqft
16585 Toby Road
Lake Country · Single Family
Listed by Coldwell Banker Executives RealtyMLS® 10402891
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
Burnaby
About $18,210 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 $17,050 in closing costs
See the breakdown
Coquitlam
About $20,220 in closing costs
See the breakdown
Questions
How much are closing costs in Lake Country?
About $20,640 on the $979,500 median price, or 2.1%. Transfer tax is $17,590 of that.
How much cash do I need to close on a home in Lake Country?
About $93,590 at the $979,500 median. That is the minimum down payment of $72,950 plus $20,640 in closing costs.
How much property transfer tax will I pay in Lake Country?
On a $979,500 purchase the property transfer tax is $17,590. 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.
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.