Closing costs when you buy a home in Canada
Budget 1.5 to 4% of the price for closing costs, on top of your down payment. Lenders want to see you have it.
Figures checked September 24, 2026Land transfer tax
Most provinces charge a tax on the price when the title changes hands: $6,475 on a $500,000 home in Ontario, and twice that in Toronto. Alberta, Saskatchewan and Newfoundland charge registration fees instead. First-time buyers can get some or all of it back in several provinces.
Professional fees
A lawyer or notary handles the transfer and the mortgage: about $1,100 to $2,000 or more. Title insurance adds about $250 to $400, a home inspection $400 to $600, and an appraisal $300 to $500, often paid by the lender on insured mortgages.
Adjustments and taxes
You'll repay the seller for property tax, condo fees or utilities they prepaid past the closing date. In Ontario, Quebec and Saskatchewan the sales tax on the default insurance premium is due at closing. New homes may carry GST or HST, less any rebates.
An example
A $500,000 resale home in Ontario, outside Toronto, typically comes to around $9,700 to $10,700 in closing costs, most of it land transfer tax.
More guides
General information about Canadian mortgages, not financial, legal or tax advice. Lenders and insurers apply their own criteria, and rules change; confirm the details with a licensed mortgage professional before you act.