Buying a Home in British Columbia

1. 1

   Land Transfer Tax / Fees

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   BC Property Transfer Tax (PTT): 1% on first $200k, 2% on $200k–$2M, 3% on $2M–$3M, 5% on portion over $3M. Foreign buyers pay an additional 20% in certain regions.

   First-Time Buyer Rebate

   First-time buyers are fully exempt from PTT where the home's fair market value is $500,000 or less. Between $500,000 and $835,000 the exemption is a fixed $8,000 (effective April 1, 2024), and between $835,000 and $860,000 it is proportionally reduced; above $860,000 there is no exemption. You must be a Canadian citizen or permanent resident, have never owned a principal residence anywhere in the world, and use the home as your principal residence.

   Official rate information →

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2. 2

   Closing Costs to Budget For

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   • Property Transfer Tax (1–5% of purchase price)
   • Legal fees (ask for a quote)
   • Title insurance (varies by property value)
   • Home inspection (varies by property size and age)
   • GST on new builds
   • Strata fees adjustment (if applicable)
   • Property tax adjustment

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3. 3

   Professionals You'll Need

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   Lawyer / Notary

   BC requires a lawyer or notary public to complete property transfers. No law society publishes a set fee tariff, so fees vary by firm and by the complexity of the transaction; ask for a quote up front.

   Title Insurance

   Strongly recommended. BC has had significant title fraud cases. Premiums are a one-time cost that varies with the property value and the insurer; ask your lawyer or notary for a quote.

   Home Inspector

   Not mandatory but strongly advised, especially given BC's building envelope issues in condos.

   Condo / Strata Considerations

   Leaky condo buildings remain a concern. Review Form B (Information Certificate), a certificate confirming no strata fees are owing to the strata corporation, current strata bylaws and rules, depreciation report (if available), and recent meeting minutes before buying a strata unit.

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4. 4

   Where Title Is Registered in British Columbia

   Your lawyer registers the transfer/deed with the Land Title and Survey Authority (LTSA).Open this section ↓Close ↑

   Your lawyer registers the transfer/deed with the Land Title and Survey Authority (LTSA).

   Land Title and Survey Authority (LTSA) →

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5. 5

   Step-by-Step Process

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   1. 1
      Mortgage pre-approval
   2. 2
      Make subject-to offer (subject to financing, inspection, strata docs)
   3. 3
      Review strata documents if condo
   4. 4
      Remove subjects and firm up
   5. 5
      Hire lawyer or notary
   6. 6
      Title search and PTT filing
   7. 7
      Close and take possession

   Arrange home insurance

   Your lender requires proof of insurance before funds are released. Contact your insurer before possession day.

   Partner · Guidepost earns a commission

   Square One quotes home and condo insurance online in British Columbia.

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6. 6

   Watch Out For

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   BC's PTT is significant; factor it into your budget from day one

   Strata depreciation reports reveal major upcoming expenses; always read them

   Assignment sales (flipping pre-sales) have complex GST/PTT implications

   Buyers using FTHBI (First Time Home Buyer Incentive) have resale restrictions

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Informational guide only. Guidepost is not a law firm. This guide explains the typical process and is not legal advice. Requirements can change. Verify current rules with the relevant government authority or a qualified professional before you act.