26
$410,000
$316/sqft
3 bd · 2 ba · 1,298 sqft
2313 Clapperton Avenue
Merritt · Single Family
Listed by Canada Flex Realty GroupMLS® 10369875
Cost of buying in Merritt
The cost of buying a home in Merritt
At the $379,950 median, you need $27,647 to close. That is the minimum down payment plus closing costs.
- Median asking
- $380K
- Closing costs
- $9K
- Minimum down
- $19K
- Cash to close
- $28K
Source: BCRES MLS® median asking price.
Cash to close
Starts at the median asking price in Merritt. Enter your own.
Minimum down payment
$18,998
Closing costs
$8,649
Cash to close
$27,647
Cash to close is the minimum down payment plus closing costs.
- Median asking
- $380K
- Closing costs
- $9K
- Minimum down
- $19K
- Cash to close
- $28K
Source: BCRES MLS® median asking price.
Where the money goes
On a $379,950 home.
Closing costs, $8,649
| Cost | Amount |
|---|---|
Property transfer tax1% on the first $200,000, 2% to $2,000,000, 3% above. | $5,599 |
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 | $8,649 |
Minimum down payment5% of the first $500,000, 10% above that, 20% of the whole price from $1,500,000. | $18,998 |
Cash to closeMinimum down payment plus closing costs. | $27,647 |
- Default insurance of about $14,438 is added to the mortgage, not paid in cash.
- Not included: adjustments ($300 to $2,000) and moving ($500 to $3,000).
At the Merritt median
The median asking price in Merritt is $379,950. On a purchase at that price the closing costs come to roughly $8,649, about 2.3% of the price, on top of your down payment.
Property transfer tax is the largest single piece at $5,599. 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 $0 of that transfer tax instead of $5,599, bringing closing costs to about $3,050. The exemption carries residency and prior-ownership conditions, so treat it as a figure to confirm rather than assume.
The minimum down payment on $379,950 is $18,998, which puts the cash needed to close at roughly $27,647, or $22,048 as a first-time buyer.
As a share of price that is 0.2 points above the provincial median of about 2.1%, which is mostly a function of price level: the transfer tax is charged on a rising scale.
Homes near $380K in Merritt
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46
$375,000
$338/sqft
2 bd · 1 ba · 1,108 sqft
443 Morgan Avenue
Merritt · Single Family
Listed by Real Broker B.C. LtdMLS® 10396040
9
$379,999
$275/sqft
4 bd · 2 ba · 1,383 sqft
2638 Clapperton Avenue
Merritt · Single Family
Listed by eXp RealtyMLS® 10402587
9
$349,900
6528 Waterside Trail
Merritt · Vacant Land
Listed by REMAX KamloopsMLS® 10389864
44
$399,900
5144 Railway Drive
Merritt · Vacant Land
Listed by Real Broker B.C. LtdMLS® 10402047
12
$369,000
Lot 9 – 2457 COLDWATER Road
Merritt · Vacant Land
Listed by Stonehaus Realty CorpMLS® 10395236
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 $18,220 in closing costs
See the breakdown
Richmond
About $21,430 in closing costs
See the breakdown
Kelowna
About $16,450 in closing costs
See the breakdown
Langley
About $20,849 in closing costs
See the breakdown
Abbotsford
About $17,050 in closing costs
See the breakdown
Coquitlam
About $20,230 in closing costs
See the breakdown
Questions
How much are closing costs in Merritt?
About $8,649 on the $379,950 median price, or 2.3%. Transfer tax is $5,599 of that.
How much cash do I need to close on a home in Merritt?
About $27,647 at the $379,950 median. That is the minimum down payment of $18,998 plus $8,649 in closing costs.
How much property transfer tax will I pay in Merritt?
On a $379,950 purchase the property transfer tax is $5,599. 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 $0 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.