23
$1,475,000
$905/sqft
3 bd · 4 ba · 1,630 sqft
5510 Oak Street
Vancouver · Townhouse
Listed by Promerita Realty Corp.MLS® R3157272
Cost of buying in Vancouver
The cost of buying a home in Vancouver
At the $1,350,000 median, you need $138,050 to close. That is the minimum down payment plus closing costs.
- Median asking
- $1.35M
- Closing costs
- $28K
- Minimum down
- $110K
- Cash to close
- $138K
Source: BCRES MLS® median asking price.
Cash to close
Starts at the median asking price in Vancouver. Enter your own.
Minimum down payment
$110,000
Closing costs
$28,050
Cash to close
$138,050
Cash to close is the minimum down payment plus closing costs.
- Median asking
- $1.35M
- Closing costs
- $28K
- Minimum down
- $110K
- Cash to close
- $138K
Source: BCRES MLS® median asking price.
Where the money goes
On a $1,350,000 home.
Closing costs, $28,050
| Cost | Amount |
|---|---|
Property transfer tax1% on the first $200,000, 2% to $2,000,000, 3% above. | $25,000 |
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 | $28,050 |
Minimum down payment5% of the first $500,000, 10% above that, 20% of the whole price from $1,500,000. | $110,000 |
Cash to closeMinimum down payment plus closing costs. | $138,050 |
- Default insurance of about $49,600 is added to the mortgage, not paid in cash.
- Not included: adjustments ($300 to $2,000) and moving ($500 to $3,000).
At the Vancouver median
The median asking price in Vancouver is $1,350,000. On a purchase at that price the closing costs come to roughly $28,050, about 2.1% of the price, on top of your down payment.
Property transfer tax is the largest single piece at $25,000. 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 Vancouver it reaches only the lower end of the market.
The minimum down payment on $1,350,000 is $110,000, which puts the cash needed to close at roughly $138,050.
As a share of price, that is in line with the rest of the province, where the median is about 2.1%.
Homes near $1.35M in Vancouver
Open these homes on the map
Draw an area and save homes you like.
40
$1,299,000
$834/sqft
3 bd · 2 ba · 1,558 sqft
436 Lakewood Drive
Vancouver · Half Duplex
Listed by Oakwyn Realty Ltd.MLS® R3180436
32
$1,449,999
$742/sqft
4 bd · 3 ba · 1,955 sqft
2150 Nanaimo Street
Vancouver · Single Family Residence
Listed by RE/MAX City RealtyMLS® R3159853
40
$1,438,000
$1,478/sqft
2 bd · 2 ba · 973 sqft
#507, 1768 Cook Street
Vancouver · Apartment/Condo
Listed by eXp RealtyMLS® R3165673
26
$1,400,000
$1,302/sqft
2 bd · 2 ba · 1,075 sqft
#1306, 5629 Birney Avenue
Vancouver · Apartment/Condo
Listed by Pacific Evergreen Realty Ltd.MLS® R3148386
40
$1,399,000
$274/sqft
6 bd · 4 ba · 5,099 sqft
3 Sennok Crescent
Vancouver · Single Family Residence
Listed by Dracco Pacific RealtyMLS® R3121176
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).
Saved search
Get new homes at this price.
Get new listings that fit, by email.
Closing costs in other BC cities
Surrey
About $21,550 in closing costs
See the breakdown
Burnaby
About $18,220 in closing costs
See the breakdown
Richmond
About $21,550 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 $17,049 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 Vancouver?
About $28,050 on the $1,350,000 median price, or 2.1%. Transfer tax is $25,000 of that.
How much cash do I need to close on a home in Vancouver?
About $138,050 at the $1,350,000 median. That is the minimum down payment of $110,000 plus $28,050 in closing costs.
How much property transfer tax will I pay in Vancouver?
On a $1,350,000 purchase the property transfer tax is $25,000. 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.