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Cash to Close in Surrey, BC: What Buying a Home Really Costs in 2026
Most buyers plan for the down payment and forget the rest. In BC, the money you need on completion day also includes property transfer tax, legal fees and a few smaller costs. Here is a simple breakdown.
1. Property transfer tax (PTT)
BC charges PTT on every purchase:
- 1% on the first $200,000
- 2% from $200,000 to $2,000,000
- 3% above $2,000,000 (plus another 2% on residential property above $3,000,000)
On an $800,000 townhouse, that is $14,000.
First-time buyers pay no PTT on the first $500,000. Up to $835,000 the saving is a flat $8,000, and it phases out completely by $860,000. On the same $800,000 townhouse, a first-time buyer pays $6,000 instead of $14,000.
Newly built homes (including presales) are fully exempt up to $1,100,000, phasing out by $1,150,000, whether or not you are a first-time buyer.
2. Legal fees and disbursements
A lawyer or notary handles the transfer and mortgage documents. Budget about $1,500 to $2,000.
3. Home inspection and appraisal
About $500 for an inspection on a resale home (not needed on a presale) and about $400 if your lender asks for an appraisal.
4. Home insurance
Your lender needs proof of insurance before completion. Plan for roughly $1,500 for the first year.
Example: $800,000 resale townhouse in Surrey
| Repeat buyer | First-time buyer | |
|---|---|---|
| Property transfer tax | $14,000 | $6,000 |
| Legal fees | $1,800 | $1,800 |
| Inspection + appraisal | $900 | $900 |
| Home insurance | $1,500 | $1,500 |
| Closing costs | $18,200 | $10,200 |
That is on top of your down payment.
Run your own numbers
Every listing on my site has a green Cash to close button with the estimate for that home. Or open the full calculator here: Cash to Close calculator.
Questions about a specific home? Call or text me at 604-612-7228.
Estimates only. Your lawyer and lender confirm the final amounts.
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