Your closing costs are on top of your down payment. Most buyers in Victoria should budget 1.5% to 4% of the purchase price for closing costs. This calculator gives you a detailed estimate.
All figures are estimates based on typical Victoria-area transactions. Actual costs may vary.
Your Purchase
Estimated Closing Costs
What Each Cost Covers
Property Transfer Tax: A provincial tax on the purchase. First-time buyers may be exempt on homes up to $835,000. Full PTT calculator →
Mortgage Default Insurance: Required if your down payment is less than 20%. This is added to your mortgage balance — you don't pay it out of pocket at closing. See insurance rates in our calculator →
Legal Fees: A real estate lawyer handles the title transfer, mortgage registration, and funds disbursement. Budget $1,200–$1,800 including disbursements. Strata purchases cost slightly more due to additional document review.
Title Insurance: Protects against title defects and fraud. Required by most lenders. Typically $250–$450.
Home Inspection: Not legally required but strongly recommended. A thorough inspection costs $400–$700 depending on the home's size and age.
Property Tax Adjustment: If the seller has prepaid property taxes past your closing date, you reimburse them for the unused portion. The amount depends on your closing date relative to the tax year.
Moving Costs: Professional movers in Victoria typically charge $800–$2,000 depending on distance and volume.
Related: First-Time Buyer Guide · PTT Calculator · Do I Qualify? · Mortgage Calculator