The Coquitlam Closing Costs Guide

Budget 2.5–4% of purchase price for total closing costs on a resale home in Coquitlam. On a $1M purchase that's $25,000–$40,000. The biggest line is BC Property Transfer Tax ($18,000 on a $1M resale), followed by legal/notary ($1,500–$2,500), adjustments, home inspection, and title insurance.

1% on the first $200K, 2% from $200K to $2M, 3% from $2M to $3M, and 5% above $3M on residential. A $1M purchase pays $18,000 in PTT; a $1.5M purchase pays $28,000; a $2.2M purchase pays $46,000. First-time buyer exemption to $500K; phase-out to $835K.

Yes — a full PTT exemption applies on purchases up to $500K for qualifying first-time buyers, with a phase-out from $500K to $835K. Qualifying means you've never owned a home anywhere in the world, you'll use it as primary residence, and you're a Canadian citizen or permanent resident.

Expect $1,500–$2,500 in legal or notary fees for a standard Coquitlam residential resale purchase with mortgage, plus approximately $500 in disbursements (title insurance, registration, search fees). New-construction and stratas can add $300–$600. Shop 2–3 quotes; most are similar, but service levels vary.

Adjustments are pre-paid items the seller has covered that you're reimbursing at possession: property tax already paid for your portion of the year, strata fees already paid for the current month, and any pre-paid utilities. On a $1M home this typically runs $500–$2,500 depending on timing.

Only on new construction (new-build condos, presale, new townhomes). GST on new builds is 5% of purchase price; the GST New Housing Rebate recovers up to $6,300 on homes priced $350K–$450K and nothing above $450K. Resale homes are GST-exempt.

Not legally required, but strongly recommended on every resale. Budget $450–$750 for a standard single-family inspection in Coquitlam; $350–$500 for a strata unit. Specialist add-ons (radon test, sewer scope, environmental) can add $200–$600 each. A pre-offer walk-through doesn't substitute for a proper inspection.

Title insurance protects against unknown liens, survey issues, and fraudulent transfers. One-time cost of $250–$450. Most lenders require it; even when they don't, it's cheap insurance against the rare but expensive title surprises. Always worth buying.

For new construction under $450K, GST rebate recovers 36% of the 5% GST. Between $350K and $450K, the rebate phases out on a sliding scale. Above $450K, there's no rebate. Most 2026 Coquitlam presales are above the rebate threshold, so budget the full 5% GST.

Initial deposit (typically 5% of purchase price) is due within 24–72 hours of subject removal. The balance of downpayment is paid through your lawyer 1–2 days before possession. Your lender funds the mortgage portion directly to your lawyer on the completion date.

If you have less than 20% down and a CMHC-insured mortgage, your lender almost always requires a tax-escrow account and collects 1/12 of annual property tax with each monthly payment. 20%+ down borrowers can usually opt out and pay property tax directly to the city semi-annually.

Moving ($1,500–$4,000 local), new utility setup deposits ($200–$500), immediate repairs/updates ($0–$20,000+ depending on condition), and the emotional 'settling in' budget ($2,000–$5,000) for window coverings, furniture gaps, and the first grocery shop. Budget 1–2% of purchase price for month-one post-possession costs.