08/24/2026
◦ The down payment gets plenty of attention, but it’s not the only cash needed to close on a home.
◦ From land transfer tax and legal disbursements to title insurance, adjustments, and potential HST on new construction, closing costs can add thousands to the amount needed to complete a purchase.
◦ For properties within the City of Toronto, buyers may be responsible for both provincial and municipal land transfer taxes. Eligible first-time buyers may qualify for available rebates, but eligibility should be confirmed before closing.
◦ Understanding the full financial picture early makes it easier to plan with confidence and avoid surprises on closing day.
◦ This post is for general information only. Buyers should obtain a written estimate from their real estate lawyer and confirm financing costs, HST treatment, and available rebates for their specific purchase.
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