BC Closing Costs Calculator

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Closing Costs:

Closing costs are among the most overlooked and poorly understood expenses in a Real Estate transaction. 

Use this calculator to get a generate an accurate breakdown of your BC completion costs.

Includes functionality for the most common BC Transfer Tax Exemptions.

About this Calculator:

If you are a First Time Homebuyer, and plan to make the property your principle residence for at least one year, you may be eligible for a Property Transfer Tax Exemption.

You must be a BC Resident, and have lived in BC for a minimum of one year prior to your purchase date.

The FTHB PTT Exemption applies to Purchase Prices Below $835K. The maximum exemption is $8000, which is full PTT on on a $500K Purchase Price. PTT is still due on the portion of purchase price between $500K and $835K. 

There is an additional sliding scale which acts to reduces the applicable exemption between $835K to $860K purchase prices.

When purchasing a newly built home, a full PTT exemption is available up to a maximum purchase price of $1.1M (before GST).

Between $1,100,000 and $1,150,000 (pre-GST) there is a sliding scale which acts to reduce the applicable exemption amount.

This calculator includes support for the Newly Built Home and First Time Homebuyer property transfer tax exemptions.

There are other property transfer tax exemptions available, (for example: family transfer of principle residence), however these are not supported by this calculator.

Adjustments is a line item intended to budget for any partial costs a buyer would be responsible to the seller for.

These include, but are not limited to:

  • Property Taxes for a portion of the year, already paid by the seller.

  • Transfers of damage deposits for existing tenancies.

  • Pre-paid service contracts which could include things like remaining heating oil left in the tank.

Like this calculator but need more functionality?

Use our amazing “All in One” BC Purchase and Mortgage Calculator:

All In One Calculator

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