Purchasing Costs

Minimum Requirements: 20% for homes over $1,000,000.

Minimum Requirements: Mandatory Additional Tarion Warranty Enrolment Fee on all homes (subject to change)*

Pre HST Sale Price of $1,000,000.01 – $1,250,000.00: $2,190.00 x13% ($284.70) = $2,474.70 enrolment fee taxes in.

• Appraisal Fee: Typically ranges from $300-$500.
• Interest Rates: Vary based on market conditions and lender terms.

Ontario LTT Rates:

• 0.5% on the first $55,000.
• 1.0% on the portion from $55,000 to $250,000.
• 1.5% on the portion from $250,000 to $400,000.
• 2.0% on the portion from $400,000 to $2,000,000.
• 2.5% on amounts exceeding $2,000,000.

First-Time Home Buyer Rebate: Eligible for a rebate up to $4,000, covering the full LTT for homes priced up to $368,000.

• Services Include: Title search, document preparation, and registration.
• Estimated Cost: $1,500-$3,000.

• Purpose: Protects against title defects and fraud.
• Cost Range: $200-$400.

• Applicability: Applies to newly constructed homes.
• Rebates: Available under certain conditions, especially for homes priced below specific thresholds.

• Options: Hiring professional movers or renting a moving vehicle.
• Cost Range: $500-$2,000, depending on distance and volume.

Includes: Reimbursement to the seller for prepaid expenses like property taxes or utilities.

• Furniture and Appliances: If not included with the home.
• Landscaping: For unfinished outdoor spaces.
• Renovations or Upgrades: Personal customization or improvements.

It’s advisable to budget an additional 3% to 4% of the home’s purchase price to cover these closing costs. Being aware of these expenses will help you plan effectively and ensure a smoother home-buying experience.