This is the largest closing cost for most buyers in BC. It is calculated based on your purchase price and often comes as a surprise. While first time buyers may qualify for exemptions, most Vancouver purchases exceed the threshold so it is important to budget for it upfront.

A lawyer or notary handles the transfer of title, mortgage registration, and closing documents. This is a required step in every transaction and ensures everything is completed properly and on time.

A professional inspection helps uncover issues before you commit. While optional, it is strongly recommended and can save you from unexpected costs after possession.

If you are putting less than 20 percent down, mortgage insurance will apply and be added to your loan. You may also incur appraisal or lender related fees depending on your financing.

On completion, you will reimburse the seller for prepaid expenses such as property taxes, strata fees, or utilities. These vary depending on timing but should always be accounted for.

GST applies to new construction and substantially renovated homes at 5 percent of the purchase price. Resale homes are typically exempt, but it is important to confirm early in the process.