The costs for Home Buyers in Vancouver are outlined below
- Conveyance of title (typical cost $500 – $1500).
- Standard survey *upon request (typical cost $500 – $1500). (Detailed surveys are more expensive.)
- Appraisal (typical cost $250-500)
- Home insurance (premiums vary consult your insurance broker).
- Property Transfer Tax (PTT)
As of April 1, 2014, all cheques for PTT payment must be payable to the “Minister of Finance” rather than the LTSA. Cheques remain the only acceptable form of PTT payment accepted at Land Title Office service counters. The LTSA’s Land Title Offices accept manually filed PTT forms on behalf of the Ministry of Finance as a courtesy to LTSA customers.(1% of the first $200,000 of purchase price and 2% of the balance of the purchase price).
This change does not affect PTT forms submitted electronically. Customers are encouraged to register for myLTSA to access the LTSA’s Electronic Services.
- GST of 5% is payable on new construction. Until April 1, 2015, a Transitional Tax of 2% is also applicable on new construction (less any applicable rebat.es)