Burnaby Home Buying Guide 2026 | PTT Calculator & Closing Costs

Buying a Home in Burnaby, BC

Burnaby sits between Vancouver and the Tri-Cities, offering excellent SkyTrain access at prices between the two. The benchmark condo price is around $720,000, with townhomes near $980,000 and detached homes averaging $1.7 million. Brentwood and Metrotown are undergoing massive condo tower development, making Burnaby a hotspot for new presale purchases — and potential PTT exemptions.

Burnaby's appeal: three SkyTrain lines, two major malls, Simon Fraser University, and a mix of urban and residential neighbourhoods. It attracts young professionals, families upgrading from Vancouver condos, and investors.

How to Buy a Home in Burnaby

Know your budget — A $700K condo in Brentwood requires roughly $140K income to qualify at current stress test rates. Many buyers use parental gifts or FHSA/RRSP to boost their down payment.

Pre-approval first — Get a written pre-approval before attending open houses. Burnaby's desirable condos still attract multiple offers.

Choose your area — Brentwood/Lougheed for transit and new builds; Metrotown for walkability; South Burnaby (Edmonds) for better value; Burnaby Mountain for SFU proximity.

Strata due diligence — Burnaby has many aging strata buildings from the 19800s and 19900s. Request Form B, depreciation reports, and meeting minutes for any resale condo.

Make a competitive offer — Subject to inspection and financing is standard. Waiving subjects is risky — even in Burnaby.

Close with a notary/lawyer — PTT is due on completion. Plan for 2–4 weeks from accepted offer to keys.

Burnaby PTT Calculator

Burnaby Closing Costs at Median Condo Price (~$720K)

Cost Item	Estimated Amount
Property Transfer Tax	$11,400
Legal / Notary Fees	$1,400–$2,000
Home Inspection	$450–$750
Strata Document Review	$300–$500
Title Insurance	$200–$350
Property Tax Adjustment	$500–$1,800
Moving Costs	$1,000–$2,500
Total Closing Costs	$15,2500–$19,400

First-Time Buyer Rebates in Burnaby

Burnaby's new condo presales in Brentwood and Metrotown frequently launch in the $750K–$835K range, making them eligible for the full PTT exemption for first-time buyers. On a $800K new condo, a first-timer saves $13,000 in PTT.

New home FTB exemption: full relief on properties under $835,000
Resale FTB exemption: full relief under $500,000 (rare in Burnaby)
FHSA contribution room: up to $8,000/year, $40,000 lifetime

Burnaby FTB Tip: Brentwood presale condos launching 2025–2026 include units under $835K. Buying presale as a first-timer in Burnaby could mean zero PTT — saving $12,000–$13,000 at closing.

Burnaby Neighbourhood Guide

Brentwood: Major redevelopment underway. New towers, transit-oriented. Condos $650K–$900K. Best for young professionals and investors.

Metrotown: Walkable, central, expensive. Condos $700K–$1M+. High strata fees in newer towers. Strong resale demand.

South Burnaby / Edmonds: Quieter, older housing stock. Better value townhomes $800K–$1.1M. Good for families.

Burnaby Mountain / SFU: Niche market. University-adjacent. Limited supply keeps values stable.

Financing Tips for Burnaby Buyers

Many Burnaby condos qualify for CMHC insurance — allowing 5% down on units under $1M purchase price.
For a $720K condo with 100% down, expect monthly mortgage payments of $3,800–$4,200 plus strata fees of $400–$700/month.
Burnaby's rental market is tight — investors often achieve $2,800–$3,500/month rent on a 1-bed, making investment properties viable.

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For complete BC PTT rules and exemptions, visit our full guide: BC Property Transfer Tax Calculator & Guide.