Buying Services买房服务

Costs of buying a home at a glance

Amounts are typical ranges we have seen and depend on your property and transaction.

Part 1

Our services

• Find the best options for your family. Whether for personal use or investment, we look at zoning, neighbourhoods, demographics, overall property prices, nearby schools and future trends.
• Choose from a large selection. We help you pick the most suitable property, spending most of our time searching for your ideal home.
• Check the price. We judge whether the market price of a home you like is reasonable, and how much flexibility there is.
• Negotiate the lowest price. We use negotiation skills to secure the greatest benefit for you.
• Add value. Advice on renovation and improvement ideas.
• Experienced home inspectors. We recommend inspectors to ensure a safe purchase and protect your interests.
• Financing and other services. Information about loans and other housing services.
• DocuSign. After you approve and validate a contract, you can sign it anywhere, even across borders, and make changes at any time. In a seller's market this greatly improves your chance of a successful deal.

Part 2

Costs of buying a home

Property transfer tax (PTT)

A one-time tax paid by most BC buyers, based on the market value of the property.

• First-time buyers (since April 1, 2024): exempt on homes up to $835,000, with a partial exemption from $835,000 to $860,000. The exemption covers the tax on the first $500,000, up to $8,000.
• New homes under $1,100,000 used as your principal residence may be exempt, phasing out to $1,150,000.
• Example, $900,000 resale: tax is $16,000, or $8,000 for a qualifying first-time buyer.

Goods and Services Tax (GST)

GST applies to new homes in BC, such as presale condos or newly built houses. Lived-in homes are usually exempt because GST was paid when they were new. First-time buyers of new homes can now get full GST relief up to $1,000,000 (up to $50,000), phasing out at $1,500,000. The rules are complex, so ask a lawyer or tax professional.

Legal fees

Several legal documents are drafted and filed with the land title office to transfer the property. For residential property this typically costs $500 to $3,000, depending on the steps involved, such as discharges, registrations and clearing encumbrances. Fees generally include the transfer, land title search, discharges, registration and office disbursements. A notary public can often do the same work for less, but cannot handle more complex tasks like interpreting complicated leases and strata documents.

Home inspection

We recommend an independent inspection as part of your due diligence, since it could save you thousands if the home has hidden problems. Lenders often require one. It typically costs $500 to $2,500, depending on the type and size of the property. A professional inspector checks the property and reports on any issues or defects.

Appraisal and land survey

If your lender needs an appraisal, or you need a survey to confirm boundaries, expect roughly $500 to $2,000 each.

Title insurance

Title insurance protects you from title problems after you buy and is almost always required by lenders. It typically costs $50 to $500 and is generally included in your lawyer's or notary's fees.

Adjustments

Sellers usually prepay some costs, such as strata fees and property tax. Your lawyer or notary prepares a statement of adjustments so each side reimburses the other, and this sets the final amount to complete the purchase.

For more, see our Real Estate Tax and Real Estate Grant pages.

Part 3

The buying process

1. Set your budgetUse our Mortgage Calculator and get pre-approved.
2. Find your homeCompare areas and schools, and see our Market Report and School Ranking.
3. Make an offerWe check the price against recent sales and write the contract with the right conditions.
4. Remove conditionsInspection, financing, insurance and strata documents.
5. 3-business-day right to cancelMost BC buyers can cancel within three business days of an accepted offer, which costs 0.25% of the price.
6. ClosingYour lawyer or notary prepares the documents and adjustments, and you receive the keys.

Part 4

Before you buy

• Check how much cash you need: down payment, taxes, legal and other closing costs.
• Look at tax breaks and grants you may qualify for.
• For condos and townhouses, read the strata documents with us.
• Presale homes follow different rules. Ask us before you sign.

Read our full Current Policy page for the latest BC rules.