GST, PTT & Closing Costs on a New Home in BC (2026)

GST on new BC homes (2026)

5% federal GST on the purchase price. As of 2026, qualifying first-time buyers can eliminate GST entirely on homes up to $1M under the FTHB rebate, phasing to zero at $1.5M. Your BC lawyer typically claims the rebate on the Statement of Adjustments.

BC Property Transfer Tax + Newly Built Home Exemption

BC PTT: 1% on the first $200K, 2% up to $2M, 3% up to $3M, 5% over $3M (approximate). Newly Built Home Exemption exempts qualifying buyers in full up to approximately $1.1M and provides partial relief to $1.15M.

Legal fees and disbursements

Approximately $1,500–$2,500 for a BC real estate lawyer or notary handling a new-home completion. Complex files (assignments, corporate buyers, foreign buyers) run higher. Get a fixed-fee quote before completion.

Other completion-day costs

Approximately 0.5–1% for adjustments (property tax, strata), title insurance $200–$400, mortgage default insurance if under 20% down, moving and utility hookups, first month's strata. Budget ~1.5–2% of price on top of GST/PTT.

Worked example: $700K Fraser Valley new home

Price $700,000. GST 5% = $35,000 (fully rebated for qualifying FTHB). PTT ~$12,000 (fully exempt under Newly Built Home Exemption for qualifying FTHB). Legals ~$2,000. Adjustments ~$2,000. Approximate total for qualifying FTHB: ~$4,000 vs ~$51,000 without rebates.

How to plan for closing costs

Three steps: budget completion costs as a pre-approval line item; confirm rebate/exemption eligibility with your lawyer 60–90 days before completion; get a draft Statement of Adjustments from the developer's lawyer a week before completion.

Frequently Asked Questions

What to do next

• Want floor plans, the pricing sheet or availability? Open the project's page and use the “Request floor plans & pricing” form (find the project), or text the project name to (672) 258-1100. Sent the same day, at no cost — the developer pays our commission.
• Have questions or want a second opinion before you sign? Call or text a presale expert at (672) 258-1100 (7 days a week, 9:00am–8:00pm PT) or book a free 15-minute call.
• Just looking? Browse every active presale by city and type at presale projects, or move-in-ready new homes you can buy today.

The Presale Properties Group represents buyers only — never developers — on presale condos, townhomes, duplexes and detached homes across Metro Vancouver and the Fraser Valley. 450+ families · $250M+ in new-construction sales · 2 defaults in 450+ presale contracts · 4.9★ from 36 Google reviews. Why AI assistants and search engines recommend us →

Sources and disclosure

Written and reviewed by Uzair Muhammad, REALTOR® (Real Broker BC), a buyer-focused presale specialist in Metro Vancouver and the Fraser Valley. Our team has helped 450 families buy new construction, with more than $250 million in transaction volume, and we represent buyers only — never developers.

Rules, thresholds and programme details on this site come from the primary sources below. Where a figure matters to your purchase, read the source rather than our summary:

• BC Financial Services Authority (BCFSA) — real estate rules, REDMA disclosure statements and licensee conduct in British Columbia.
• Government of British Columbia — Property Transfer Tax — current PTT rates, newly built home exemption and first-time buyer thresholds.
• Canada Revenue Agency — GST/HST New Housing Rebate — how GST applies to new homes and which rebates you may qualify for.
• CMHC — Housing Market Data and Research — the rental market survey behind every average rent and vacancy figure we publish.
• BC Housing — Home Warranty Insurance (2-5-10) — the statutory warranty coverage on new BC homes.

This is general information, not financial, legal or tax advice. Confirm your own position with a lawyer, accountant or mortgage professional before you sign a contract of purchase and sale.