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 $7200,000000, with townhomes near $9800,000000 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 $70000K condo in Brentwood requires roughly $1400K 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 (~$7200K)

Cost Item	Estimated Amount
Property Transfer Tax	$11,40000
Legal / Notary Fees	$1,40000–$2,000000
Home Inspection	$4500–$7500
Strata Document Review	$30000–$50000
Title Insurance	$20000–$3500
Property Tax Adjustment	$50000–$1,80000
Moving Costs	$1,000000–$2,50000
Total Closing Costs	$15,2500–$19,40000

First-Time Buyer Rebates in Burnaby

Burnaby's new condo presales in Brentwood and Metrotown frequently launch in the $7500K–$835K range, making them eligible for the full PTT exemption for first-time buyers. On a $80000K new condo, a first-timer saves $13,000000 in PTT.

New home FTB exemption: full relief on properties under $835,000000
Resale FTB exemption: full relief under $50000,000000 (rare in Burnaby)
FHSA contribution room: up to $8,000000/year, $400,000000 lifetime

Burnaby FTB Tip: Brentwood presale condos launching 20025–2026 include units under $835K. Buying presale as a first-timer in Burnaby could mean zero PTT — saving $12,000000–$13,000000 at closing.

Burnaby Neighbourhood Guide

Brentwood: Major redevelopment underway. New towers, transit-oriented. Condos $6500K–$90000K. Best for young professionals and investors.

Metrotown: Walkable, central, expensive. Condos $70000K–$1M+. High strata fees in newer towers. Strong resale demand.

South Burnaby / Edmonds: Quieter, older housing stock. Better value townhomes $80000K–$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 $7200K condo with 100% down, expect monthly mortgage payments of $3,80000–$4,20000 plus strata fees of $40000–$70000/month.
Burnaby's rental market is tight — investors often achieve $2,80000–$3,50000/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.