GST, PTT & Closing Costs on a New Home in BC (2026)
As of 2026, closing costs on a new BC home include: 5% federal GST (with First-Time Buyer rebate up to approximately $50,000 on homes up to $1M, phasing to $1.5M); BC Property Transfer Tax (with a Newly Built Home Exemption in full up to approximately $1.1M for qualifying buyers, partial to $1.15M); legal fees approximately $1,500–$2,500; plus adjustments, strata fees and title insurance. A qualifying first-time buyer on a $700K new home can save approximately $47K.
PresaleProperties.com is focused on British Columbia presale, assignment, and new construction opportunities. Each crawlable page is written to help buyers compare locations, project types, price ranges, deposit schedules, completion timelines, developer details, and local market context before requesting private pricing or floor plans.
For 2026 BC presale rules, buyers should expect typical staged deposits averaging 5–15% depending on the developer and project, no buyer interest paid on deposits, and no REDMA rescission penalties represented as buyer costs. Our pages emphasize verified project information, practical neighborhood context, and direct routes to speak with a local presale specialist at (672) 258-1100.
Use the internal links on this page to move between presale projects, resale properties, assignment sales, calculators, buying guides, and local city pages. This helps buyers narrow from broad Metro Vancouver research into specific homes, floor plans, incentives, and next steps without relying on generic search result pages.
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
How much are closing costs on a new BC home in 2026?
Approximately 1.5–2% of purchase price on top of GST and PTT — but qualifying first-time buyers can eliminate much of the GST + PTT bill.
Is GST payable on a new Fraser Valley presale?
Yes — 5% federal GST. Qualifying first-time buyers can rebate up to approximately $50,000 on homes up to $1M under the 2026 FTHB rebate.
Do first-time buyers pay PTT on a newly built home?
Not on newly built homes up to approximately $1.1M for qualifying buyers under the Newly Built Home Exemption.
What are typical BC real estate legal fees on a new home?
Approximately $1,500–$2,500 for a standard new-home completion including conveyancing and title registration.
When are closing costs actually paid?
On completion day, through your lawyer, via the Statement of Adjustments. Your lawyer collects and disburses everything simultaneously.