Closing and related costs


Closing costs are the legal, administrative and disbursement fees associated with buying a home. Understanding these fees will help you budget more accurately. Remember these are additional costs over and above the price of the home.

How Much Land Transfer Tax Will You Have To Pay?

The land transfer tax is a one-time tax levied by your province when you purchase a property. The tax is based on a percentage of the purchase price of the property and varies from province to province. Some municipalities also charge a land transfer tax (for example, Toronto). Calculate land transfer tax here.

Have You Budgeted For The Associated Legal Costs?

Legal costs cover your lawyer’s fees or, in Quebec, your notary’s fees. These may include:

Do You Need A Home Inspection?

A home inspector assesses a property’s condition and can tell you if something is not working properly, needs to be changed, or is unsafe. They may be able to identify where there have been problems in the past, such as a leaking basement or termite damage.

What Other Costs Can You Expect?


Information Courtesy of The Canadian Real Estate Association (CREA)


Connect With Us
Loading...