Bank Fees

Any prepaid costs paid ahead by the seller that need to be reimbursed when the buyer takes possession.  This could include things like property tax or hydro bills.

Home Inspection

Budget for approximately $500.00.  This cost will be higher if a septic or well inspection is required. 

Legal Fees

Adjustment Costs

Land Transfer Tax

Bank fees vary consult with your local mortgage broker

Legal fees can vary but budget for approximately $1,500


The Province of Ontario requires all home buyers to pay Land Transfer Tax which is a calculated based on the purchase price as follows:

First $55,000  0.5%

from $55,000 to $250,000 1%

from $250,000 to $400,000 1.5%

over $400,000 2%

The City of Toronto requires an additional tax

First time home buyers are eligible for a partial exemption.