Typical Costs Related to Purchasing a Home

Resale Home

Item Freehold Regular
Condominium
Land
Condominium
Estimated
Costs
Down Payment Yes Yes Yes Minimum 5.00 % of the purchase price
Home Inspection Yes Yes Yes $300.00
Land Transfer Tax
N.B. First-time Home Buyers are eligible to receive a rebate to $2,000.00
Yes Yes Yes Click here for the on-line calculator
Lawyer’s Fee Yes Yes Yes $500.00 to $800.00
Legal Disbursements Yes Yes Yes $200.00
Title Insurance Yes Yes Yes $300.00
Status Certificate No Yes Yes $150.00
Adjustments For Prepaid Costs Yes Yes Yes $200.00
Deposits And Connection Fees For Utilities (Telephone, Cable TV, Internet, Electricity, Gas, Common Expenses) Yes Yes Yes $250.00 to $1,000.00
Property Insurance Yes No Yes $600.00

Newly-constructed Home – Add The Following:

Item Freehold Regular
Condominium
Land
Condominium
Estimated
Costs
New Home Warranty Fee Yes Yes Yes Between $373.75 and $862.50
Electricity Connection Yes No Yes $500.00
Water Meter Yes No Yes $300.00
Tree Planting Yes No Yes $500.00

Homes Within The City Of Toronto – Add The Following:

Item Freehold Regular
Condominium
Land
Condominium
Estimated
Costs

Toronto Municipal Land Transfer Tax
N.B. First-time Home Buyers are eligible to receive a rebate to $3,725.00

Yes Yes Yes Click here for the on-line calculator