BC Closing Cost & Property Transfer Tax Calculator
What you’ll actually need on closing day in BC: property transfer tax and its first-time buyer and newly-built exemptions, GST on new homes and the federal first-time buyers’ GST rebate, the minimum down payment, mortgage default insurance, and typical legal and inspection costs. Rules current as of September 2026.
Minimum for this price: $65,000 (7.3%)
Taxes
Property transfer tax
1% to $200k · 2% to $2M · 3% above · +2% on residential value over $3M
$16,000
Closing costs (typical, editable)
Down payment
$180,000
Taxes (after exemptions & rebates)
$16,000
Closing costs
$3,050
Estimated cash needed to close
$199,050
Taxes after you buy
- Speculation & vacancy tax (Metro Vancouver and other designated areas): 1% of assessed value per year for Canadians / PRs, 3% for foreign owners (4% from 2027) — unless exempt, e.g. it’s your principal residence or rented long-term.
- Vancouver Empty Homes Tax: 3% of assessed value if a City of Vancouver home is empty more than 6 months of the year.
- BC home flipping tax: selling within 2 years? 20% of the profit if held under a year, declining to 0% at 730 days. Applies to presale assignments too.
Estimates only, using BC and federal rules as of September 2026 — not legal or tax advice. Exemptions have eligibility rules (e.g. principal residence, 0.5 ha lot limit, residency). Confirm with your lawyer or notary. Questions? Ask Eni.
How BC property transfer tax works
BC charges property transfer tax when a property’s title is registered: 1% on the first $200,000, 2% up to $2,000,000 and 3% above that, plus a further 2% on the residential value above $3,000,000. On an $800,000 home that’s $14,000.
First-time buyers who are Canadian citizens or permanent residents pay no tax on the first $500,000 for homes worth up to $835,000, saving up to $8,000. The saving shrinks between $835,000 and $860,000. Newly built homes used as a principal residence are fully exempt up to $1,100,000, phasing out by $1,150,000. You can claim one exemption, not both.
New homes also carry 5% GST. First-time buyers may get it all back — up to $50,000 — on new homes up to $1,000,000, with the rebate phasing out by $1,500,000.