The Closing Costs Nobody Warns You About

Land transfer tax is usually the single largest closing cost, and it varies significantly by province and, in Toronto's case, by an additional municipal tax on top of the provincial one.

Legal fees and disbursements (title search, registration) typically run $1,000–$2,000. Title insurance, home inspection, and appraisal fees each add a few hundred dollars more.

Don't forget adjustments — reimbursing the seller for prepaid property tax or utilities — and the practical costs of actually moving. A simple rule of thumb: budget 1.5% to 4% of the purchase price, on top of your down payment, for closing.