How much down payment do I need to buy a home in Coquitlam?

• Home value $0–$500,000: 5% minimum (insured mortgage)
• Home value $500,000–$999,999: 5% on first $500K + 10% on the portion between $500K–$999,999
• Home value $1,000,000+: 20% minimum, on the entire purchase. This applies to most Coquitlam detached + many townhomes.

What this looks like in real numbers (May 2026 Coquitlam):

• $700,000 condo (Town Centre): 5% × $500K + 10% × $200K = $45,000 minimum down
• $1,000,000 townhome: 20% = $200,000 minimum down
• $1,500,000 detached: 20% = $300,000 minimum down
• $2,200,000 detached (Burke Mountain / Heritage Mountain): 20% = $440,000 minimum down

Plan for these on top of the down payment:

• BC Property Transfer Tax (PTT): 1% on first $200K + 2% on $200K-$2M + 3% on $2M-$3M + 5% on $3M+. First-time buyers get a partial exemption up to $500K.
• Legal/notary fees: $1,200-$2,500
• Home inspection: $500-$800
• Title insurance: $250-$500
• Appraisal: $400-$700 (sometimes covered by lender)
• Strata documents review (condos/townhomes): typically included in legal
• GST: 5% on NEW construction only (with partial rebate available on homes under $450K). Resale homes have no GST.
• Moving costs: $1K-$5K

• BC First-Time Home Buyers' Program — partial PTT exemption on homes up to $500K (full) or $525K (partial)
• RRSP Home Buyers' Plan — withdraw up to $35,000 from RRSP for first-time home purchase, repay over 15 years
• First Home Savings Account (FHSA) — federal program, up to $40K total contribution, tax-deductible going in, tax-free coming out for first-home purchase
• GST New Housing Rebate — up to $6,300 federal + $5,000 BC on new homes