Buying / Money · 2026-09-19
What are the closing costs for a home in Ontario?
A plain-English breakdown of the cash a buyer should plan for beyond the down payment.
What costs should I expect on closing?
Closing costs are the extra amounts you need beyond the purchase price and down payment. Some are handled through your lawyer. Some happen before or after closing but still affect the cash you need to move comfortably.
- Land transfer tax
- A provincial tax calculated on the transaction. Your lawyer confirms the amount and any eligible refund. Toronto purchases also need a separate municipal-tax calculation.
- Legal fees and disbursements
- Your lawyer's fee plus closing expenses. Ask for a written estimate that identifies what is included.
- Title insurance
- Confirm the policy cost and coverage with your lawyer; check whether it is included in the legal estimate.
- Closing adjustments
- Amounts allocated between buyer and seller, including prepaid property taxes. Your lawyer calculates them for your closing date.
- Mortgage-related charges
- Ask your lender which appraisal, financing or insurance-related amounts are payable separately at closing.
- Property-specific charges
- Condo and new-build purchases may have additional costs. Have your lawyer identify these in the documents before you commit.
What else should I budget for?
Keep inspection, moving, utility setup and an initial repair reserve separate from the lawyer's closing statement. These affect your moving budget even when they are paid at another time. Your deposit is credited toward the purchase, not an extra fee.
Which cost is usually the largest?
For many Ontario buyers, land transfer tax is the largest closing cost. First-time buyer refunds can reduce it, but eligibility needs to be confirmed instead of assumed. Prior ownership, spouse ownership history and how title is held can affect the answer.
What changes when the property is a condo, new build or rural home?
Condos can add status certificate review, prepaid common expense adjustments, move-in fees or building-specific items. New construction can involve HST treatment, rebates, development charges, adjustments and builder-agreement costs. Rural or unusual properties can involve different searches, inspections or financing requirements.
When should I use the calculator?
Use the closing cost calculator after you understand the line items. Enter the purchase price, down payment, first-time buyer refund assumption, legal estimate, inspection estimate, title insurance estimate and other costs you want to plan for. Then reconcile the planning number with your lawyer and lender before relying on it.
