List price is just the beginning. We surface every dollar — closing costs, taxes, carrying costs, and the lifetime interest your lender doesn't advertise.
Estimates only. All figures are illustrative, rules-based estimates — not financial, mortgage, tax, or legal advice, and not a quote. Rates, taxes, and fees change; mortgage products are offered by licensed mortgage professionals. Confirm every number with your lender, lawyer/notary, and accountant before relying on it.
BC Assessment sets the assessed value of your property each July 1st for property tax purposes. It's not a market appraisal — assessed values often lag the market — but a significant gap between assessed and purchase price affects your annual property tax levy and can signal pricing risk.
BC Assessment values are based on July 1st of the prior year, use mass-appraisal methods across hundreds of thousands of properties, and are calibrated for equitable taxation — not individual sale prices. A home selling 20–30% above assessed value is common in rising markets.
ContextYour annual property tax is the assessed value × the mill rate set by your municipality. Buying above assessed value does not immediately change your tax — BC Assessment re-values annually. A large gap may correct over 1–3 years.
TaxesYou can appeal your BC Assessment notice each year before January 31st. Grounds for appeal include a factual error in the assessment (wrong sq footage, wrong classification) or evidence the assessed value significantly exceeds market value as of July 1st.
ActionBC's PTT applies to almost every transaction. The rate is 1% on the first $200K, 2% from $200K–$2M, 3% over $2M, plus an extra 2% above $3M. First-time buyers (since Apr 2024) have the first $500K exempt on homes up to $835K, phasing out to $860K — a saving of up to $8,000.
ProvincialA conveyancing lawyer or notary handles the title transfer, mortgage registration, and adjustments. Budget $1,500–$2,500 depending on complexity. Includes title insurance (~$300).
MandatoryA licensed inspector examines structural, electrical, plumbing, and moisture systems. Roughly $500–$800 for a standard detached; condos with strata docs run slightly less. Still recommended even on subject-free offers.
RecommendedRequired when your down payment is below 20%. The premium ranges from 2.8%–4% of the insured amount and is typically added to your mortgage. The greater your down payment, the lower the premium rate.
If <20% downAt completion, you reimburse the seller for property taxes they've prepaid beyond the possession date. Typically $500–$3,000 depending on timing and the annual tax levy.
At completionProfessional movers for a local Vancouver move run $1,500–$4,000. Factor in immediate repairs, new locks, appliances, and a small contingency. New builds may require additional hookup fees.
VariableIn a shifting market the real question isn't today's price — it's how your monthly carrying changes if prices soften or your renewal rate climbs. Drag to model it against the numbers you entered above.
The sale price is never what you pocket. Commission, your remaining mortgage, legal fees and any prepayment penalty all come off the top — and in a softening market, a lower sale price plus a penalty can erase 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.