Closing Costs and Down Payment

Direct: 905-320-0773

When buying a home, there are additional costs beyond the purchase price which become due on or before the closing date.

Home Purchase Cost Estimate

Deposit

Amount paid when submitting an offer.
(approx. 5% of asking price)
Deposit will be held in trust, and is considered part of the down payment. The deposit amount will be deducted from the total purchase price.

Mortgage

Mortgage Insurance (CMHC, Genworth):
Required for high ratio mortgages.
(when down payment is less than 20%)

Appraisal Fee (if required):
Often required for conventional mortgages.
$100-$350+HST

Mortgage Life Insurance or Life Insurance

Status Certificate (condominium units only):
$125-$150

Legal

Legal Fees & Disbursements:
$1,200-$1,800

Closing Adjustments:
Expenses seller may have prepaid which need to be reimbursed by the buyer. Includes property tax, fuel, condo fees, rental items, utilities.

Title Insurance (or survey fees if required):
Can protect against fraud, forgery, title defects and survey problems — Strongly Recommended!
$200-$500

Home Inspection Fee

General:
Strongly Recommended!
$350-$500 + HST

Well Water Quality/Septic Inspection:
(if applicable)

Property Insurance

Required for closing date.
$500 and up

Taxes

Land Transfer Tax:
Sliding scale between 0.5%-2.0%
(A portion is refundable to first-time home buyers.)

H.S.T. On the Purchase Price (new homes only*):
* May be included in the purchase price.
* May apply if home is extensively renovated.

Moving

Movers/Storage Costs:
$1000 and up

Connection Fees:
Cable, satellite, Internet and alarms systems installation. Note: Some service & utility companies require a sizable account deposit, if no history.

Miscellaneous:
Appliances, gardening equipment, snow clearing equipment, window treatments, tools, paint.

For illustration purposes only — actual charges and amounts will vary depending on the specific situation.

BUYERS

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Rating

5 14 reviews

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Élaine Thomas
June 20, 2025

(Translated by Google) Excellent service from the beginning to the end. (Original) Excellent service du début à la la fin - Excellent service from the biginning until the end.

Sarah Moote
February 27, 2025

We had the absolute pleasure of working with Laurence as part of our real estate dream team with both the sale of our house and purchase of our new home. Laurence was absolutely incredible every step of the way—she helped stage our house, designed beautiful marketing materials, hosted open houses every weekend, attended home inspections, collected water samples, and was a master in negotiation… the list goes on of all the wonderful things she did for our family. She gave great advice, was there for us every step of the way, and was always available. Laurence is truly one of the most lovely, hard working and genuine people we have had the pleasure of knowing. She was positive when there were bumps in the road, supportive, and had our best interest at heart. Our 3 year old still asks when she will get to see Laurence next. She truly became part of our family, and we are so grateful to have met and worked with her.

Wendy Burtch
February 10, 2025

Laurence’s experience of the real-estate market made our purchase of our beautiful new home a wonderful and smooth transaction. She took the time to explain the entire process and gave professional advice. We highly recommend Laurence to help you find your dream home.

Leslie Quinsay
July 12, 2024

Laurence is wonderful to work with and always goes above and beyond! She has helped us in both the buying and selling processes multiple times. Highly recommend.

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