Typical Costs Related to Purchasing a Home
Resale Home
| Item | Freehold | Regular Condominium |
Land Condominium |
Estimated Costs |
|---|---|---|---|---|
| Down Payment |  |
|
|
Minimum 5.00 % of the purchase price |
| Home Inspection | |
|
|
$300.00 |
| Land Transfer Tax N.B. First-time Home Buyers are eligible to receive a rebate to $2,000.00 |
|
|
|
Click here for the on-line calculator |
| Lawyer’s Fee | |
|
|
$500.00 to $800.00 |
| Legal Disbursements | |
|
|
$200.00 |
| Title Insurance | |
|
|
$300.00 |
| Status Certificate |  |
|
|
$150.00 |
| Adjustments For Prepaid Costs | |
|
|
$200.00 |
| Deposits And Connection Fees For Utilities (Telephone, Cable TV, Internet, Electricity, Gas, Common Expenses) | |
|
|
$250.00 to $1,000.00 |
| Property Insurance | |
|
|
$600.00 |
Newly-constructed Home – Add The Following:
| Item | Freehold | Regular Condominium |
Land Condominium |
Estimated Costs |
|---|---|---|---|---|
| New Home Warranty Fee | |
|
|
Between $373.75 and $862.50 |
| Electricity Connection | |
|
|
$500.00 |
| Water Meter | |
|
|
$300.00 |
| Tree Planting | |
|
|
$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 |
|
|
|
Click here for the on-line calculator |