Closing costs
One-time costs payable on or before completion: land transfer tax, legal fees, title insurance, property insurance, adjustments (e.g. prepaid property taxes), and home inspection. Typical range: 1.5–4% of the purchase price.
The biggest line is almost always land transfer tax — and in Toronto you pay it twice (provincial plus municipal). Legal fees and disbursements typically run $1,500–$2,500, title insurance $250–$500, and lenders may require a property appraisal.
Closing costs are separate from your down payment and must be proven as available — lenders generally want to see about 1.5% of the purchase price in reserves on top of the down payment. First-time buyers may recover part of the land transfer tax through provincial and municipal rebates.
Budget toward the higher end (3–4%) on resale homes and the lower end on new builds where some costs are bundled. Our closing-costs and land-transfer-tax calculators give you a line-by-line estimate for your price and city.
Ask Maya about Closing costs
Instant answers · 50+ languages · no credit pull