The purchase price or sale proceeds are only part of an Ontario real-estate transaction. Buyers and sellers should prepare for professional fees, taxes, adjustments, moving and property-related costs.
Common buyer costs
- Deposit submitted according to the agreement
- Legal fees and disbursements
- Ontario land transfer tax and registration costs
- Inspection, appraisal or specialist reviews where appropriate
- Insurance, moving and immediate repairs
- Property-tax, utility or condominium adjustments on closing
Mortgage default insurance, lender fees or other financing costs may apply depending on the loan and down payment. First-time buyer rebates or programs have eligibility rules and can change.
Common seller costs
- Real-estate service and marketing arrangements stated in the listing agreement
- Legal fees and mortgage discharge costs
- Cleaning, repairs, staging, storage or moving
- Adjustments and outstanding property obligations
- Possible tax or accounting considerations for some properties
Ask for estimates early
Exact costs depend on the property, financing, contract and personal circumstances. Request written estimates from the lawyer, lender, insurer, accountant and other professionals involved. This article is general information and is not legal, tax, mortgage or financial advice.
Review the buyer guide or seller guide, then discuss your real-estate plan with Tahani.
Build the worksheet at the offer price
Estimate costs for the specific property and proposed closing date, not a generic percentage. Ask the lawyer, lender, insurer and relevant specialists for written estimates, and include a contingency amount rather than using every available dollar for the purchase.
Buyer costs before and at closing
- Deposit required under the agreement
- Down payment and any mortgage-insurance premium or lender fees
- Inspection, appraisal, survey or specialist reviews where appropriate
- Legal fees, disbursements, title insurance and registration costs
- Ontario land transfer tax, after any refund for which the buyer qualifies
- Property-tax, utility, fuel or condominium adjustments
- Home insurance, utility setup, movers and immediate repairs
Ontario publishes the current land-transfer-tax rules and a separate first-time-buyer refund guide. Eligibility definitions vary among programs, so confirm the transaction with the lawyer.
New or substantially renovated homes need separate tax review
HST treatment and rebate eligibility can depend on the property, agreement, occupancy, timing and buyer. The Canada Revenue Agency’s GST/HST new-housing rebate guide explains the current federal and Ontario programs. Obtain tax and legal advice for the actual agreement rather than relying on an advertised “rebate included” statement.
Condominium buyers should budget beyond the monthly fee
Review what the common expenses include, the status certificate, reserve-fund information, disclosed fee changes and special assessments, unit insurance and move-in charges. A lower purchase price can be offset by higher monthly or near-term building costs.
Seller costs and net proceeds
A seller’s estimate may include the mortgage payout and discharge, legal fees, agreed real-estate service costs, repairs, staging, moving, storage, adjustments and tax or accounting advice where relevant. Calculate net proceeds under more than one sale-price scenario.
Plan for the first year of ownership
Keep funds for maintenance, seasonal work, furnishings and unexpected repairs after possession. The CMHC homebuying guide includes budgeting and closing checklists that can support the worksheet.
Use the first-time-buyer budget guide or the Guelph seller guide for the relevant process.
Discuss your real-estate goals
Last updated: October 28, 2026