The following are estimated costs on a typical residential home purchase, but every home and Buyer is different therefore, they are merely estimates. Please contact me for advice on your specific situation. 

If you would like this in spreadsheet form, please connect with me and I will be happy to send over my template to you. 

Before Closing Expenses


When a deposit is paid and how much can vary considerably depending on many factors. The are often paid around acceptance of an offer or when subject clauses are removed. Expect to pay your deposit before your purchase and will form part of the purchase price. 

Inspection Costs

A typical home inspection for a home is $400-$500, but this is just the basic inspection. 

Budget more if you are inspecting items like oil tanks, wood stoves, storm drain pipe, asbestos, etc. 


Your lender will likely require an appraisal and that cost is usually covered by the Buyer. Expect around $450 for a typical single-family home.

Strata Files Review

You may wish to hire a company to review the Strata documents, and this typically costs $300-$500. 

Closing Expenses

These expenses will all be calculated at your conveyancer’s office by way of a Statement of Adjustments, which you will be asked to pay just before closing on your property (typically a few days before). Consult with your lawyer in advance. 

Purchase Price

If you are financing your purchase, you will know by now how much the lender is funding. You will of course be required to pay the difference, less any adjustments (including the deposit you already paid). 

Property Transfer Tax

Current rates are:

  • 1% of the fair market value up to and including $200,000
  • 2% of the fair market value greater than $200,000 and up to and including $2,000,000
  • 3% of the fair market value greater than $2,000,000

There may be additional taxes and exemptions. Refer to the Government of BC website for detailed information or connect with me:

Legal Costs

If you are financing the property, you can expect to pay around $1,500 inclusive of title insurance.

Property Tax Adjustment

If taxes for the current year were already paid by the Seller, you will need to reimburse them for the portion of taxes prorated for the year for the time that you take ownership. This will be calculated at your conveyancer’s office and.

Rental Adjustment

If the property is a rental, there will be adjustments made for rent and security deposits paid and will be prorated to your adjustment date on the contract.


GST may apply to your purchase and you should seek advice on this in advance. 

Real Estate Fees

If applicable, you may need to pay Realtor fees depending on the situation. This should be known well in advance. 

Insurance Premium

This is not paid at the lawyer’s office but needs to be in place before you take possession of your home. Your insurance broker will provide you with a quote and policy details. You will likely pay an annual premium around the time of closing on your purchase.