The closing cost comparison is the number that most surprises anyone moving from Vancouver to Calgary. BC charges a Property Transfer Tax on every purchase: 1% on the first $200,000, 2% up to $2 million, and 3% above that.
On a $1,000,000 Calgary-comparable purchase, BC's Property Transfer Tax totals approximately $18,000. On a $1,840,000 purchase — closer to Vancouver's average detailed price, it exceeds $34,000. Alberta charges no land or property transfer tax.
The Alberta Advantage: The title transfer fee on a $650,000 Calgary purchase is approximately $310 in total. For anyone moving to Calgary from Vancouver, this difference goes directly into the down payment, renovation budget or first year of savings.