Closing costs estimator
All the cash you need on top of the down payment.
Cash you'll need, including your down payment
$45,000
- Closing costs
- $0
- Property transfer tax
- $0
- Down payment$45,000
- Property transfer tax$0
CMHC's rule of thumb: closing costs of 1.5% to 4% of the price
Estimate range for this price: $6,750 to $18,000
The marker is your total so far.
What this means
Closing costs are the money you need on top of the down payment. Lenders want to see you have it, usually in the bank before your subjects come off.
Add quotes as you get them. Until then, plan on something inside CMHC's range.
Estimates only. This isn't advice, a rate quote or a pre-approval. Your real numbers depend on your lender and your approval. Legal, inspection and other fees are what you enter from your own quotes. I don't guess them.
Rules last verified: November 3, 2026
Sources and assumptions
- gov.bc.ca, Property transfer tax rates (updated 2025-12-03)
- gov.bc.ca, First time home buyers' exemption, current amount (updated 2025-12-03)
- gov.bc.ca, Newly built home exemption amounts (updated 2025-12-03)
- CMHC, general requirements (closing costs of 1.5% to 4% of the purchase price)
- CRA, First-time home buyers' GST/HST rebate (modified 2026-03-30)
- CRA, Guide RC4028, GST/HST New Housing Rebate (Rev. 10/2026): 36% of the GST paid, maximum $6,300, purchase price under $450,000
- CRA, Form RC7190-WS, GST190 Calculation Worksheet, Section 1 line 4 (full rebate at $350,000 or less, phased out to nothing at $450,000)
- Assumes a fully residential property of 0.5 hectares or less, bought by eligible buyers holding 100% of the interest.
- The additional 20% tax for foreign buyers doesn't apply in the Kootenay Boundary or Central Kootenay regional districts.
- Where you'd qualify for both exemptions, the calculator shows the larger one. Confirm with your lawyer or notary.
- The first-time buyer GST rebate needs a builder agreement on or after March 20, 2025 and other conditions. Check with CRA or your lawyer.
- The regular new housing rebate needs the home to be your, or a relation's, primary place of residence. A first-time buyer's rebate already covers the GST up to its cap, so the two are never added together here.
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