Closing Costs

Buying a home is exciting but there are hidden costs that can get expensive. Know in advance how much you’ll need for closing costs.

Home inspection (around $500)
Property appraisal (around $500, could be covered by your bank)
Legal fees (varies depending on price of home)
Title insurance (sometimes included in legal fees)
Mortgage broker commission (usually paid by your bank)
Survey (around $2000, often already available from the seller)
Land transfer taxes (both Ontario and Toronto, varies depending on price of home)
Property tax adjustment (varies, given to seller)
HST (usually only new homes)
Tarrion Warranty (only new homes)
PST (only on chattels sold by vendors)
Utility adjustments (varies, given to seller)
Condo Fee adjustments (only on condos, obviously, varies, given to seller)
CMHC insurance (charged if you have less than 20% down on a home valued under $1,000,000)
Moving expenses (varies)
Utility connections (varies)
Decorating (varies)
Renovating (varies)

I can give you a better idea of these costs based on your particular situation, text me to chat!