What Are Closing Costs When Buying a Home in Kamloops, BC?

Closing costs when buying a home in Kamloops typically add 2 to 4 percent to the purchase price beyond the down payment. The largest closing cost is Property Transfer Tax, which is 1% on the first $200,000 and 2% on the remainder up to $2 million. Other costs include legal fees (,500 to $2,500), home inspection ($400 to $600), title insurance ($200 to $400), and property tax adjustments. First-time buyers in BC may qualify for a full PTT exemption on homes priced under $500,000 and a partial exemption up to $835,000.