Closing Costs in Canada
7 min read
First-time buyers frequently underestimate closing costs. Budget 1.5–4% of the purchase price on top of your down payment for these expenses.
Land Transfer Tax
Most provinces charge a land transfer tax on the purchase price. Ontario and BC have the highest rates. Toronto also charges a municipal land transfer tax on top of Ontario's provincial tax. First-time buyers may qualify for rebates — up to $4,000 in Ontario and $8,000 in Toronto.
Legal Fees and Disbursements
Expect $1,500–$2,500 for a real estate lawyer (or Quebec notary). Disbursements include title searches, land registry fees, and courier/admin costs.
Title Insurance
A one-time premium of $200–$400 that protects against title defects, survey errors, and fraud. Recommended for nearly all purchases — most lenders require it.
Other Costs
CMHC mortgage insurance (if under 20% down), home insurance, HST on new builds, moving costs, utility hookups, and immediate repairs after possession.