Property Details

Province / Territory

Purchase Price ($)

Slide to Adjust Price

$100K$3,000,000

$750,000

Down Payment ($)

20.0% down

Closing Date (Month)

Used to estimate property tax adjustment.

Your Situation

First-Time Home Buyer Applies provincial LTT rebates where available (Ontario up to $4,000 + Toronto up to $4,475; BC full exemption under $500K; PEI full exemption). Also notes the federal First-Time Home Buyers' Tax Credit.

Property is Inside the City of Toronto Toronto is the only Canadian city with a municipal land transfer tax that mirrors the provincial brackets. First-time buyers get an additional Toronto FTHB rebate up to $4,475.

Condominium / Strata Unit Adds a Status Certificate (Ontario) or Estoppel Certificate review fee. Your lawyer must review the condo corporation's financials, reserve fund, and bylaws before you close.

New Construction / Brand New Home New homes are subject to GST (5%) or HST depending on province. Federal new housing rebates apply for homes under $450,000. Note shown in results — confirm exact amount with your builder and lawyer.

Professional Fees — adjust to match your actual quotes

Legal / Lawyer Fees ($)

Typical: $800–$2,500. Includes title search & registration.

Title Insurance ($)

Typical: $150–$500. Usually arranged through your lawyer.

Home Inspection ($)

Typical: $300–$600. Set to $0 if waived or done.

Appraisal Fee ($)

Typical: $300–$500. Many lenders cover or waive this.

Adjustments & Other Costs

Property Tax Adjustment ($)

Prorated amount owed to seller for taxes they prepaid.

Moving Costs ($)

Varies widely. Set to $0 to exclude from total.

Home Insurance — 1st Year ($)

Lender requires proof of insurance on closing day.

Utility / Other Adjustments ($)

Fuel oil, condo fee adjustments, etc.

Your Closing Cost Summary

Calculated

Total Cash at Closing

—

excluding down payment

Total LTT + Tax

—

net after rebates

% of Purchase Price

—

closing costs only

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Full Itemized Breakdown

TAXES & GOVERNMENT FEES
Provincial Land Transfer Tax	—
Toronto Municipal Land Transfer Tax	—
Provincial FTHB Rebate	—
Toronto FTHB Rebate	—
Title / Land Registration Fee	—
PST on CMHC Insurance Premium	—
PROFESSIONAL FEES
Legal / Lawyer Fees	—
Title Insurance	—
Home Inspection	—
Appraisal Fee	—
Status / Estoppel Certificate Review	—
ADJUSTMENTS & OTHER
Property Tax Adjustment	—
Moving Costs	—
Home Insurance (1st Year)	—
Utility / Other Adjustments	—
Total Estimated Closing Costs	—

Estimates only. Actual amounts vary by property, lender, and lawyer. Real estate commissions are paid by the seller and are not included here. Confirm all costs with your real estate lawyer before closing day.

What Every Canadian Buyer Needs to Know About Closing Costs

Closing costs are separate from your down payment and must be paid in cash through your real estate lawyer on closing day. They cannot be financed into your mortgage. Budget between 1.5% and 4% of the purchase price — with higher-priced markets like Ontario and BC landing closer to 3–4% due to land transfer taxes.

The CMHC insurance premium itself is NOT a closing cost — it rolls into your mortgage balance. However, if you live in Ontario, Quebec, or Saskatchewan, the provincial sales tax (PST/QST) on that premium must be paid in cash at closing and cannot be added to your mortgage. This surprises many buyers and can be hundreds or even thousands of dollars.

Real estate agent commissions are paid by the seller, not the buyer, in Canada. They are deducted from the sale proceeds and are not part of your closing costs.

Hire a Real Estate Lawyer Early

In Ontario and most provinces, a real estate lawyer is mandatory for property transfers. Shop around — fees range from $800 to $2,500. Engage your lawyer as soon as you have an accepted offer.

Title Insurance is Essential

Title insurance protects you from hidden liens, fraud, boundary disputes, and zoning issues. Most lenders require lender-side title insurance; owner title insurance adds protection for you personally.

Property Tax Adjustments

If the seller has prepaid property taxes for the full year, you'll reimburse them for your share. Your lawyer calculates this exactly at closing — typically $500–$3,000 depending on municipality and timing.

Down Payment Timing

Your down payment plus all closing costs must be in your lawyer's trust account before closing. Wire transfers can take 1–3 business days. Have everything ready at least 5 business days ahead.

Estimates are a start — your actual costs depend on your property, municipality, and lawyer. We'll walk through every line item with you and connect you with a trusted real estate lawyer. No obligation.

(905) 334-3560

Closing Costs When Buying — FAQs

Closing costs are additional expenses buyers must pay on closing day, typically 1.5%–4% of the purchase price. Common costs include land transfer tax, legal fees, title insurance, mortgage registration, property tax adjustments, and home inspections. These must be paid in cash separately from your down payment.

Real estate lawyer fees in Canada usually range between $1,200 and $2,500 depending on the complexity of the transaction and the province. Your lawyer handles the legal transfer of title, mortgage registration, reviewing the agreement of purchase and sale, and ensuring funds are properly transferred.

Newly built homes in Canada often include GST or HST as part of the purchase price. However, many buyers qualify for the New Housing Rebate, which allows them to recover a portion of the tax. Builders often apply this rebate directly if the home will be a primary residence. Investors may need to apply separately after closing.

Commonly overlooked costs include home inspections, property tax adjustments, appraisal fees required by lenders, title insurance, moving expenses, and utility setup charges. Buyers of condominiums may also face adjustments for prepaid maintenance fees or reserve fund contributions.

Pre-construction purchases can include development levies, Tarion warranty enrollment fees, utility meter installation, builder legal adjustments, and educational levies. Buyers should carefully review their purchase agreement because these adjustments can significantly affect the final closing amount.

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