Closing costs are the one-time bills you pay to finish buying a home, on top of your down payment. The Financial Consumer Agency of Canada says to plan for 1.5% to 4% of the purchase price. On an $800,000 home, that's $12,000 to $32,000. In Toronto, land transfer tax alone can take most of that range.
This checklist goes line by line: what each cost is, who sets it, and where to check it. It's part of our first-time buyer guide.
The closing cost checklist
| Cost | Who sets it | Typical size | Paid in cash? |
|---|---|---|---|
| Ontario land transfer tax | Province (rates) | $10,475 on a $700K home before any refund | Yes |
| Toronto municipal land transfer tax | City of Toronto (rates) | Same as Ontario's up to $3M | Yes |
| Toronto MLTT administration fee | City of Toronto | $102.56 plus HST | Yes |
| PST on mortgage default insurance | Province | 8% of the premium | Yes, can't be added to the loan |
| Legal fees and disbursements | Your lawyer | Get a written quote | Yes |
| Title insurance | Insurer, through your lawyer | Get a quote | Yes |
| Home inspection | Inspector | Get a written price | Yes, usually before closing |
| Condo status certificate | Condo corporation | Up to $100 | Yes |
| Adjustments (property tax, condo fees, utilities) | Statement of adjustments | Depends on the closing date | Yes |
| Moving and setup | You | Get quotes | Yes |
Last checked: October 2026.
We left dollar ranges out for legal fees, title insurance and inspections. We couldn't find an official source for them, and quotes vary by firm and property. Ask for written quotes early so the numbers in your budget are real ones.
Land transfer tax is the biggest line
You pay Ontario land transfer tax on every purchase. In the City of Toronto you also pay the municipal tax, which uses the same brackets up to $3 million. First-time buyers can get up to $4,000 back from Ontario and $4,475 from Toronto.
| Price | Toronto, no rebate | Toronto, first-time buyer | Outside Toronto, no rebate | Outside Toronto, first-time buyer |
|---|---|---|---|---|
| $700K | $20,950 | $12,475 | $10,475 | $6,475 |
| $1M | $32,950 | $24,475 | $16,475 | $12,475 |
Last checked: October 2026.
The full bracket math is in our land transfer tax guide.
PST on mortgage default insurance
If your down payment is under 20%, you'll need mortgage default insurance. The premium is a percentage of your loan, from 0.60% to 4.00% at CMHC, and it's usually added to the mortgage.
In Ontario, premiums are subject to provincial sales tax, and that tax can't be added to the loan. Ontario's rate on taxable insurance is 8%. Your lawyer collects it at closing.
Example: on an $800,000 purchase with 5% of the first $500,000 and 10% of the rest down ($55,000), the loan is $745,000. That's about 93% of the price, so the premium is 4.00%:
- Premium: $745,000 × 4.00% = $29,800 (added to the mortgage)
- PST: $29,800 × 8% = $2,384 (cash at closing)
Buyers often miss this line because the premium itself never touches their bank account.
Legal fees and title insurance
In Ontario, a lawyer handles the transfer and registers your ownership. Your lawyer's bill has two parts: the fee for their work, and disbursements (searches, registration and other costs paid to third parties). Ask for an all-in written quote that lists both.
Title insurance protects you against problems with ownership. The Financial Services Regulatory Authority of Ontario lists examples such as a previous owner's unpaid debts registered against the property, survey errors and title fraud. It's a one-time premium, usually bought through your lawyer when you close. Ask your lawyer and lender whether your mortgage requires it.
Home inspection
An inspection is not legally required, but it can save you from expensive surprises. The federal Office of Consumer Affairs suggests getting a written contract that states the total cost before the inspector starts.
You might pay for it before you make an offer, or during a conditional period after. Either way, it comes out of your savings before closing day.
Condo status certificate
Buying a resale condo? The status certificate shows the corporation's finances, the reserve fund and any lawsuits or special assessments. According to the Condominium Authority of Ontario, a corporation can charge up to $100, taxes included, and must deliver within 10 days at that price. Some charge rush fees for faster delivery. Have your lawyer review it before your conditions expire.
Adjustments on the statement
Your lawyer prepares a statement of adjustments that settles costs between you and the seller as of the closing date. The FCAC lists property tax adjustments among the standard closing costs. Common items:
- Property tax. If the seller prepaid the year, you pay back your share from the closing date onward.
- Condo fees. If the seller paid the month in full, you repay the days after closing.
- Utilities and fuel. Items such as a full oil or propane tank can show up here.
Ask your lawyer for a draft statement a few days before closing so the final cheque isn't a surprise.
New-build closings have extra lines
A new home or pre-construction condo comes with a builder's agreement, and its closing adjustments can differ from a resale purchase. If you're a first-time buyer of a new home, GST/HST rebates can also change the numbers a lot. Several programs can apply: the federal First-Time Home Buyers' GST/HST rebate and, for agreements signed April 1, 2026 to March 31, 2027, Ontario's Enhanced New Housing Rebate and New Home Affordability Payment. Have a lawyer review the agreement before you sign. Our first-time buyer incentives guide covers each one.
Your "cash on closing day" worksheet
Using the $800,000 Toronto condo bought by two first-time buyers with the minimum down payment:
| Item | Amount |
|---|---|
| Down payment | $55,000 |
| Ontario LTT after $4,000 refund ($12,475 − $4,000) | $8,475 |
| Toronto MLTT after $4,475 rebate ($12,475 − $4,475) | $8,000 |
| PST on default insurance premium | $2,384 |
| Toronto MLTT administration fee | $102.56 plus HST |
| Status certificate | Up to $100 |
| Legal fees and disbursements | Your quote |
| Title insurance | Your quote |
| Inspection | Your quote |
| Adjustments | From your lawyer's draft |
| Moving | Your quote |
Last checked: October 2026. Figures are for this example only.
Leaving out the down payment, the known lines come to as much as $19,061.56, plus HST on the admin fee. Legal fees, title insurance, the inspection, adjustments and moving all come on top. Add a cushion for the first months in the home.
Get your own closing numbers
Closing costs are where tight budgets break, usually because of a line nobody mentioned. In a Gameplan Session we fill in this worksheet with your price range, your area and your down payment, in English, Hindi or Punjabi. Book a free Gameplan Session.
This is general information, not financial, tax or legal advice. Confirm your situation with your lender, lawyer and accountant.
Sources
- FCAC, Buying a home (checked October 2026)
- Ontario, Land transfer tax, Calculating land transfer tax and Refunds for first-time homebuyers (checked October 2026)
- City of Toronto, MLTT rates and fees and MLTT rebate opportunities (checked October 2026)
- CMHC, Mortgage loan insurance cost (checked October 2026)
- Ontario, Retail sales tax: insurance and benefits plans (checked October 2026)
- FSRA, Understanding title insurance (checked October 2026)
- Office of Consumer Affairs (ISED), Home inspections (checked October 2026)
- Condominium Authority of Ontario, What is a status certificate? (checked October 2026)
- CRA, First-time home buyers' GST/HST rebate and Notice 346: Ontario Enhanced New Housing Rebate (checked October 2026)
