The listed price is only the start. Here is every other dollar you'll pay: the fees when you buy, the taxes, your monthly costs, and all the interest the bank charges over the years.
Estimates only. These numbers are rough estimates, not financial, mortgage, tax or legal advice, and not a quote. Rates, taxes and fees change, and mortgages are arranged by licensed mortgage professionals. Please check every number with your lender, lawyer/notary and accountant before you rely on it.
BC charges this tax on almost every home purchase. You pay 1% on the first $200K, 2% on the part between $200K and $2M, 3% on the part above $2M, and 5% on the part above $3M. First-time buyers pay no tax on the first $500K if the home costs $835K or less (the break shrinks until $860K), saving up to $8,000.
ProvincialA lawyer or notary moves the home into your name, registers your mortgage, and splits bills like property tax with the seller. Budget $1,500–$2,500. This includes title insurance (about $300), which protects you if there's a problem with who owns the home.
MandatoryA licensed inspector checks the structure, wiring, plumbing and signs of water damage. It costs about $500–$800 for a house and a bit less for a condo. It's still a good idea even if your offer has no conditions.
RecommendedYou must buy this if your down payment is less than 20%. It costs about 2.8%–4% of your loan and is usually added to the loan. The more you put down, the lower the rate.
If <20% downIf the seller already paid property tax for a period after you get the keys, you pay them back for that part on closing day. It's usually $500–$3,000.
At completionHiring movers for a local move in Vancouver costs about $1,500–$4,000. Also set aside money for quick repairs, new locks, appliances and a little extra. New homes may have extra fees to connect utilities.
VariableThe real question isn't only today's price. It's how much your monthly costs change if home prices drop or your interest rate goes up when your mortgage term ends. Move the sliders to see it using the numbers you entered above.
You never keep the full sale price. The agent's commission, what you still owe on your mortgage, legal fees and any penalty for paying off your mortgage early all get taken out first. If prices are falling, a lower sale price plus a penalty can wipe out more than people expect.
Estimates only. Commission, penalty and fee structures vary by contract and lender. Confirm exact figures with your agent, lawyer/notary and lender before relying on them.
Our advisors model the exact closing statement for your specific property — including strata contingency, spec tax, and foreign buyer rules where they apply.