Buying Costs
Property Transfer Tax (PTT) - When you purchase a property, you're responsible for paying property transfer tax. For more information, please visit http://www2.gov.bc.ca/gov/content/taxes/property-taxes/property-transfer-tax
Legal fees - lawyer or notary fees will vary depending on the complexity of the transaction and are usually $1,000-$1,500 plus disbursements plus GST.
Home inspection - if you choose to have an inspection costs are typically $250-$1,000, depending on the size of the property.
Goods and Services Tax (GST) - GST is 5% on new construction and substantially renovated
Realtor's commissions – Realtor commissions are paid by the Seller.
Appraisal - your lender may require a property appraisal at your expense. Costs vary but are typically $200-$500.
Site survey - your lender may require an up-to-date survey. If the Seller does not have one, you may have to absorb the costs to have one done, or alternatively you may be able to pay for title insurance.
Insurance - you are advised to insure your property.
Property tax - property tax is levied annually and paid to your local Municipality.
Strata fees - these are monthly fees that apply to strata buildings. Fees vary depending on the level of services provided by the strata.