Your down payment gets the attention, but closing costs can catch buyers off guard. Lenders will also want proof you can cover them.
The checklist
- Land transfer tax: provincial, plus municipal in Toronto (first-time buyer rebates available)
- Legal fees & disbursements: $1,500–$2,500
- Title insurance: $250–$500
- Home inspection: $400–$700
- Appraisal: $300–$500 (often lender-paid)
- PST on mortgage default insurance: 8% of the premium, if under 20% down
- Property tax & utility adjustments: reimbursing the seller for prepaid amounts
- Home insurance: required before closing
- Moving & setup: movers, utility connections, immediate repairs
- New builds: HST, Tarion enrolment, development charges, meter installation
Get a personalized estimate with our True Cost of Buying calculator.