Closing Costs

The one-time costs beyond the down payment to complete a purchase.

Closing costs are the one-time costs, beyond the down payment, needed to complete a home purchase, commonly around 1.5% to 4% of the price. They include land transfer tax (often the largest), legal fees, title insurance, a home inspection, an appraisal, and adjustments. Buyers who budget only for the down payment get caught short, so estimate these early. First-time buyers may reduce the biggest line through land-transfer-tax rebates.

General information only, not legal, tax, or financial advice. Rules change and vary by province; confirm the current details with the relevant authority before you rely on them.