Burnaby Closing Costs Explained: Property Transfer Tax, Legal Fees, and Every Cost Buyers Miss

By Mohamed Mansour, MBA and Associate Broker | Mansour Real Estate Group | Published: July 15, 2026 | Geography: Burnaby, BC — Metro Vancouver and Lower Mainland

Most Burnaby buyers calculate their down payment carefully. Fewer calculate what happens on closing day. The gap between what buyers budget and what they actually owe — in Property Transfer Tax, legal fees, strata document costs, and tax adjustments — can range from $20,000 to $30,000 on a typical Burnaby purchase. That gap is the subject of this article.

Burnaby's price range adds complexity. With benchmark detached prices varying from $882,800 in Burnaby East to over $1,018,000 in Burnaby South (per REBGV data), and roughly 40% of active listings being condos and apartments, closing costs differ meaningfully by neighbourhood, property type, and buyer status. This article provides scenario-based numbers for each of those situations.

Short Answer

Closing costs on a typical Burnaby purchase range from $20,000 to $26,000 on a $900,000 home, or roughly 2.2% to 2.9% of the purchase price. The largest single item is Property Transfer Tax: $15,800 on a $900,000 purchase before any exemption. First-time buyers who qualify for the partial PTT exemption reduce that to $7,800. New construction condos near Metrotown or SkyTrain corridors may qualify for additional exemptions that cut closing costs by $15,000 to $25,000.

Key Takeaways

PTT on a $900,000 Burnaby home is $15,800; first-time buyers save $8,000 through partial exemption.
Total closing costs typically run $20,000–$26,000 on a $900K purchase, excluding down payment.
Condo buyers pay $300–$500 more in legal fees for strata document review — a step that cannot be skipped.
New construction buyers near Metrotown and SkyTrain corridors may access PTT and GST exemptions worth $15,000–$25,000.
Burnaby South benchmark prices exceed the $835,000 first-time buyer PTT exemption threshold entirely.

Who This Applies To

First-time buyers purchasing a home in Burnaby at any price point
Move-up buyers purchasing a detached home in Burnaby East, North, or South
Investors or repeat buyers purchasing a resale condo or townhouse in Burnaby
Buyers considering new construction condos near Metrotown, Brentwood, or Lougheed
Anyone who has received pre-approval but has not yet mapped out their full closing cost budget

When This Advice May Not Apply

Buyers purchasing through a corporate entity, trust, or foreign ownership structure face different PTT treatment and additional tax exposure. Commercial properties, mixed-use buildings, and bare land follow different PTT tiers. This article covers residential freehold and strata purchases by individual buyers in BC.

Data Used in This Article

BC Property Transfer Tax Act — Province of British Columbia (official legislation, current rates and exemption thresholds)
REBGV Monthly Statistics Package, July 2023 — Real Estate Board of Greater Vancouver (Burnaby benchmark prices by subarea)
GST/HST New Housing Rebate — Canada Revenue Agency (official GST rebate thresholds and calculation)
BC First-Time Home Buyer PTT Exemption — Province of British Columbia (exemption conditions and 2026 thresholds)

What Is Property Transfer Tax in BC?

Property Transfer Tax (PTT) is a provincial tax payable when a property changes ownership in British Columbia. It applies to the fair market value of the property at the time of registration. According to the Province of BC, the current rate structure is:

1% on the first $200,000
2% on the portion between $200,001 and $2,000,000
3% on the portion above $2,000,000

On a $900,000 Burnaby home, that calculation is: $2,000 (1% on first $200K) + $13,800 (2% on remaining $700K) = $15,800 in PTT. That figure is due at closing and cannot be financed through your mortgage.

How the First-Time Buyer PTT Exemption Works in Burnaby

BC's first-time buyer PTT exemption applies when the purchase price is at or below $835,000 (as of 2026, per the Province of BC). Full exemption is available on homes priced at or below $500,000. A partial exemption applies between $500,001 and $835,000, reducing proportionally as the price approaches $835,000. Above $835,000, no exemption is available.

For Burnaby buyers, this threshold creates meaningful differences by neighbourhood. Burnaby East has a detached benchmark around $882,800, which exceeds the exemption ceiling entirely. A first-time buyer there pays full PTT. In contrast, a first-time buyer purchasing a Burnaby condo priced at $720,000 would pay approximately $7,800 in PTT after the partial exemption — saving $6,600 compared to a buyer who does not qualify.

Burnaby South's detached benchmark of $1,018,000 sits well above the threshold. First-time buyers pursuing a detached home in South Burnaby should budget for full PTT regardless of buyer status.

PTT Scenarios by Burnaby Neighbourhood and Property Type

Scenario	Purchase Price	PTT (No Exemption)	PTT (First-Time Buyer)
Burnaby condo (resale)	$720,000	$13,400	$7,800 (partial)
Burnaby East detached	$882,800	$15,656	$15,656 (no exemption)
Burnaby North detached	$902,500	$16,050	$16,050 (no exemption)
Burnaby South detached	$1,018,000	$18,360	$18,360 (no exemption)
New construction condo (Metrotown)	$850,000	$15,000	$0 (new build exemption)

PTT figures are approximate based on Province of BC rate schedule. Benchmark prices per REBGV July 2023 data. Verify exemption eligibility with your lawyer or the Province of BC before closing.

New Construction PTT Exemption and GST in Burnaby

Buyers purchasing newly built homes in Burnaby — common near Metrotown, Brentwood, and the Lougheed SkyTrain corridor — can access a separate PTT exemption that applies to newly constructed homes priced up to $1,100,000. At that threshold, a buyer purchasing a new Burnaby condo at $850,000 pays zero PTT, saving $15,000 compared to a resale purchase at the same price.

New construction also triggers GST. As of 2026, the federal GST rebate applies to the GST paid on new homes where the purchase price is at or below $450,000. For new Burnaby condos priced above that threshold — which includes most new builds near transit — the rebate phases out and disappears entirely above $450,000 (per Canada Revenue Agency). Buyers of new Burnaby condos priced above $450,000 should budget for the full 5% GST with no rebate. On an $850,000 new condo, that is $42,500 in GST. This cost is typically reflected in the purchase price or developer contract — confirm with your lawyer before signing.

Legal Fees, Title Insurance, and Strata Document Costs

Beyond PTT, every Burnaby buyer needs a notary or real estate lawyer to complete the conveyance. Standard legal fees in BC typically run $1,200 to $1,800 for a straightforward freehold purchase. Title insurance, which protects against title defects and survey issues, adds $250 to $450.

For Burnaby condo purchases — and approximately 40% of active Burnaby listings are apartments or condos — strata document review adds $300 to $500 to the legal bill. This covers the lawyer's time reviewing the Form B Information Certificate, depreciation report, meeting minutes, and special levy history. As discussed in the Burnaby Real Estate Legal Guide, skipping or rushing this review is one of the most costly mistakes condo buyers make.

Total legal costs for a Burnaby condo purchase: $2,000 to $2,800. For a detached freehold purchase: $1,500 to $2,300.

Home Inspection, Property Tax Adjustment, and Other Costs Buyers Miss

A home inspection in Burnaby typically costs $400 to $700, depending on property size and type. In April 2026, detached home buyers face a more competitive offer environment — as noted in the Burnaby detached market analysis — which in some situations creates pressure to waive subjects. Buyers who do should understand the financial risk they are absorbing, not just the cost they are saving.

Property tax adjustment is a cost that surprises many buyers. If the seller has already paid the year's property taxes, the buyer reimburses the seller for the portion of the year after the completion date. On a $900,000 Burnaby home with annual property taxes of approximately $4,500 to $5,500, a mid-year closing can mean a $2,000 to $2,700 adjustment owing at closing.

Other costs buyers frequently underestimate include: moving expenses ($1,000–$3,500), utility connection deposits, strata move-in fees (common in Burnaby high-rise buildings, often $200–$500), and immediate maintenance needs not caught in inspection. None of these appear on the PTT calculation, but all come due in the same 30 to 60 day window around closing.

How We Evaluate This

At Mansour Real Estate Group, we walk through a full closing cost estimate with every buyer client before they make an offer — not after. The reason is simple: a buyer who discovers a $15,800 PTT obligation for the first time on closing day has no room to adjust. A buyer who maps out total costs at pre-approval has three to six months to plan.

For Burnaby buyers specifically, we flag the neighbourhood-by-neighbourhood PTT threshold issue early. A buyer targeting a detached home in Burnaby South, where benchmarks exceed $1,000,000, is in a different closing cost situation than a buyer looking at a resale condo in Capitol Hill or a sub-$835K price band. The advice changes by scenario — which is why generic closing cost calculators often mislead Burnaby buyers.

Buyer Closing Cost Checklist — Burnaby

Calculate PTT based on your specific purchase price using the Province of BC rate schedule — do not estimate.
Confirm first-time buyer exemption eligibility with your lawyer before closing, including Canadian citizenship or PR status, occupancy intention, and the $835,000 price ceiling.
If buying new construction, confirm whether PTT new build exemption applies and obtain the GST amount in writing from the developer before signing.
Request a legal fee estimate from your notary or lawyer that includes strata document review if applicable.
Ask your real estate agent for the most recent BC Assessment value and city property tax bill so you can estimate the property tax adjustment at closing.
Budget a minimum of $500 for title insurance and miscellaneous disbursements — more if the property is strata.
Confirm whether your building has a move-in fee, elevator booking deposit, or move-in damage deposit — these apply at possession, not closing.
Add your CMHC mortgage insurance premium to your total cost picture if your down payment is under 20%, even though it is typically added to the mortgage principal.

What We Commonly See

In our experience, the most common closing cost mistake Burnaby buyers make is assuming the first-time buyer PTT exemption applies to their purchase when it does not. Buyers targeting Burnaby East or North detached homes near the $882,000–$902,000 benchmark are almost always above the $835,000 threshold. We see buyers who have mentally budgeted $7,800 in PTT discover they owe $15,800 — an $8,000 gap — within weeks of their completion date.

A second pattern: condo buyers who budget for standard legal fees and do not account for strata document review costs. The $300–$500 strata review add-on is not optional — it is the most legally important step in a condo purchase. Cutting it to save money is a false economy.

A third observation: buyers of new construction condos near SkyTrain corridors frequently overlook GST entirely until the developer's contract arrives. On a $900,000 new unit, that is $45,000 in GST with no rebate available at that price. Buyers who plan for this early make better decisions about which projects to pursue. Those who discover it late often face financing stress they did not anticipate.

Questions and Answers

Does the first-time buyer PTT exemption apply to Burnaby condos?

Yes, if the condo is priced at or below $835,000 and the buyer meets BC's eligibility requirements. Many resale Burnaby condos fall within this range, making the partial or full exemption accessible. Confirm eligibility with your lawyer — the buyer must be a Canadian citizen or permanent resident and must occupy the home as a principal residence.

What is the PTT on a $1,000,000 Burnaby home?

Based on the Province of BC rate schedule: 1% on the first $200,000 ($2,000) plus 2% on $800,000 ($16,000), for a total of $18,000. No first-time buyer exemption applies above $835,000. Budget for the full amount.

Do new construction condos near Metrotown qualify for PTT exemption?

Yes, if the purchase price is at or below $1,100,000. The newly built home PTT exemption is separate from the first-time buyer exemption and applies to any buyer of a qualifying new build. Verify with your lawyer and developer that the unit and closing conditions meet provincial criteria.

Is GST included in the price of new Burnaby condos?

Not always. Some developers include GST in the listed price; many do not. Read your Contract of Purchase and Sale carefully. GST is 5% of the purchase price on new construction. At $900,000, that is $45,000. For homes priced below $450,000, a partial federal rebate may apply — but most new Burnaby condos exceed this threshold.

In Summary

Closing costs on a Burnaby home purchase are predictable if you map them out early — but they vary significantly by neighbourhood, property type, and buyer status. PTT is the largest single cost for most buyers: $15,800 on a $900,000 purchase, with no first-time buyer relief available above $835,000. Condo buyers face additional strata-related legal costs. New construction buyers near SkyTrain corridors face GST exposure that can exceed $40,000 on a $900,000 unit. Budget $20,000 to $26,000 in total closing costs on a typical Burnaby resale purchase, and get a property-specific breakdown from your lawyer before you finalize your financing plan. Understanding your full borrowing picture and your closing costs together is the only way to make a financially sound offer.

Thinking About Your Next Step?

If you are preparing to buy in Burnaby and want a scenario-specific closing cost estimate before you make an offer, Mansour Real Estate Group can walk you through the numbers. No pressure — just clarity on what you will actually owe on closing day.

Key Takeaways

On a $900,000 Burnaby purchase, closing costs typically range $20,000–$26,000 (2.2%–2.9% of price), excluding down payment and mortgage insurance.
First-time buyers save $8,000 in Property Transfer Tax on homes under $835,000; a $900,000 Burnaby detached home carries $7,800 in PTT instead of $15,800.
Strata document review adds $300–$500 to legal fees for Burnaby condos, where ~40% of active listings are apartments or townhouses.
Newly built Burnaby condos near Metrotown and SkyTrain corridors qualify for PTT exemption up to $1,100,000 and GST rebate up to $450,000, reducing closing costs by $15,000–$25,000.
Burnaby neighbourhood benchmarks vary: East $882,800, North $902,500, South $1,018,000 — each carries different PTT and exemption outcomes.
April 2026 market divergence: detached homes gaining momentum (higher inspection and appraisal risk); condos softening (more time to budget closing costs).