Closing Cost Summary by Province
| Province | Land Transfer Tax | Legal Fees | Title Insurance | Home Inspection | Other Fees | Total on $500K |
|---|
| Ontario | $6,475 | $1,500–$2,500 | $300–$500 | $400–$600 | $500–$1,000 | $9,175–$11,075 |
| Ontario (Toronto) | $12,950 | $1,500–$2,500 | $300–$500 | $400–$600 | $500–$1,000 | $15,650–$17,550 |
| British Columbia | $8,000 | $1,200–$2,000 | $300–$500 | $400–$600 | $200–$500 | $10,100–$11,600 |
| Alberta | $0 | $1,000–$1,800 | $300–$500 | $400–$600 | $300–$600 | $2,000–$3,500 |
| Quebec | $5,000 | $1,500–$2,500 | Not common | $400–$600 | $500–$700 | $7,400–$8,800 |
| Manitoba | $5,150 | $1,000–$1,800 | $300–$500 | $400–$600 | $200–$400 | $7,050–$8,450 |
| Saskatchewan | $0 | $1,000–$1,800 | $300–$500 | $400–$600 | $200–$400 | $1,900–$3,300 |
| Nova Scotia | $7,500 | $1,200–$2,000 | $300–$500 | $400–$600 | $200–$400 | $9,600–$11,000 |
| New Brunswick | $5,000 | $1,000–$1,800 | $300–$500 | $400–$600 | $200–$400 | $6,900–$8,300 |
| PEI | $5,000 | $1,000–$1,800 | $300–$500 | $400–$600 | $200–$400 | $6,900–$8,300 |
Land Transfer Tax by Province
Ontario Land Transfer Tax
| Property Value Portion | Tax Rate | Cumulative on $500K |
|---|
| First $55,000 | 0.5% | $275 |
| $55,001–$250,000 | 1.0% | $2,225 |
| $250,001–$400,000 | 1.5% | $4,475 |
| $400,001–$2,000,000 | 2.0% | $6,475 |
| Over $2,000,000 | 2.5% | — |
Toronto Municipal Land Transfer Tax (additional):
| Property Value Portion | Tax Rate | Cumulative on $500K |
|---|
| First $55,000 | 0.5% | $275 |
| $55,001–$250,000 | 1.0% | $2,225 |
| $250,001–$400,000 | 1.5% | $4,475 |
| $400,001–$2,000,000 | 2.0% | $6,475 |
| Over $2,000,000 | 2.5% | — |
Total land transfer tax on $500K in Toronto: $12,950
Ontario First-Time Home Buyer Rebate
| Program | Amount | Eligibility |
|---|
| Provincial LTT rebate | Up to $4,000 | First-time buyer, must live in home |
| Toronto municipal LTT rebate | Up to $4,475 | First-time buyer, buying in Toronto |
| Maximum combined rebate | Up to $8,475 | — |
British Columbia Property Transfer Tax
| Property Value Portion | Tax Rate | Cumulative on $500K |
|---|
| First $200,000 | 1.0% | $2,000 |
| $200,001–$2,000,000 | 2.0% | $8,000 |
| $2,000,001–$3,000,000 | 3.0% | — |
| Over $3,000,000 | 5.0% | — |
BC First-Time Buyer Exemption: Full exemption on homes up to $500,000. Partial exemption on $500,001–$525,000.
Quebec Welcome Tax (Droits de Mutation)
| Property Value Portion | Tax Rate | Cumulative on $500K |
|---|
| First $58,900 | 0.5% | $295 |
| $58,901–$294,600 | 1.0% | $2,652 |
| $294,601–$500,000 | 1.5% | $5,733 |
| Over $500,000 | 2.0% | — |
Montreal adds 0.5% for properties over $750,000, and 1.0% over $1M.
Alberta — No Land Transfer Tax
Alberta does not charge land transfer tax. The only transfer cost is the land title registration fee ($50 + $2 per $5,000 of property value) — approximately $250 on a $500K property.
Manitoba Land Transfer Tax
| Property Value Portion | Tax Rate | Cumulative on $500K |
|---|
| First $30,000 | 0% | $0 |
| $30,001–$90,000 | 0.5% | $300 |
| $90,001–$150,000 | 1.0% | $900 |
| $150,001–$200,000 | 1.5% | $1,650 |
| Over $200,000 | 2.0% | $7,650 |
Nova Scotia Deed Transfer Tax
| Rate | Details |
|---|
| 1.5% of purchase price | Flat rate across the province |
| On $500,000 | $7,500 |
| No first-time buyer exemption | Full amount applies |
Complete Closing Cost Breakdown
Common Closing Costs (All Provinces)
| Cost | Amount | Required? |
|---|
| Legal fees | $1,000–$2,500 | ✅ Yes |
| Title insurance | $300–$500 | Recommended (required by most lenders) |
| Home inspection | $400–$600 | Highly recommended |
| Appraisal fee | $300–$500 | Usually paid by lender |
| Land survey/title search | $200–$500 | Sometimes needed |
| Property tax adjustment | Varies | Prorated from seller at closing |
| Utility adjustments | $100–$300 | Prorated at closing |
| Mortgage default insurance (CMHC) | 2.8–4.0% of mortgage | If less than 20% down (added to mortgage) |
| Moving costs | $500–$2,000 | Not a closing cost, but budget for it |
Optional/Situational Costs
| Cost | Amount | When Required |
|---|
| PST on CMHC insurance (Ontario) | 8% of premium | Ontario only, on CMHC premium |
| Estoppel certificate/status cert | $100–$300 | Condo purchases |
| Interest adjustment | Varies | Between closing and first payment |
| Property tax holdback | 1–3 months | New construction sometimes |
| Builder tarion warranty (ON) | $600–$1,000 | New construction in Ontario |
| GST/HST on new home | 5–13% | New construction only |
| New home rebate | Up to $24,000 | New construction (GST/HST rebate) |
Total Closing Costs by Purchase Price
Ontario (Outside Toronto)
| Purchase Price | Land Transfer Tax | Legal + Title | Other Costs | Total | % of Price |
|---|
| $300,000 | $2,975 | $2,000 | $1,000 | $5,975 | 2.0% |
| $500,000 | $6,475 | $2,000 | $1,000 | $9,475 | 1.9% |
| $700,000 | $10,475 | $2,000 | $1,000 | $13,475 | 1.9% |
| $1,000,000 | $16,475 | $2,500 | $1,000 | $19,975 | 2.0% |
Toronto (Double Land Transfer Tax)
| Purchase Price | Provincial + Municipal LTT | Legal + Title | Other Costs | Total | % of Price |
|---|
| $500,000 | $12,950 | $2,000 | $1,000 | $15,950 | 3.2% |
| $700,000 | $18,475 | $2,000 | $1,000 | $21,475 | 3.1% |
| $1,000,000 | $28,975 | $2,500 | $1,000 | $32,475 | 3.2% |
Alberta
| Purchase Price | Land Transfer Tax | Legal + Title | Other Costs | Total | % of Price |
|---|
| $300,000 | $0 | $1,500 | $1,000 | $2,500 | 0.8% |
| $500,000 | $0 | $1,500 | $1,000 | $2,500 | 0.5% |
| $700,000 | $0 | $1,800 | $1,000 | $2,800 | 0.4% |
| $1,000,000 | $0 | $2,000 | $1,000 | $3,000 | 0.3% |
British Columbia
| Purchase Price | Property Transfer Tax | Legal + Title | Other Costs | Total | % of Price |
|---|
| $500,000 | $8,000 | $1,500 | $1,000 | $10,500 | 2.1% |
| $700,000 | $12,000 | $1,800 | $1,000 | $14,800 | 2.1% |
| $1,000,000 | $18,000 | $2,000 | $1,000 | $21,000 | 2.1% |
First-Time Home Buyer Savings
| Province | LTT Rebate/Exemption | Maximum Savings |
|---|
| Ontario (provincial) | Rebate up to $4,000 | $4,000 |
| Toronto (municipal) | Rebate up to $4,475 | $4,475 |
| British Columbia | Full exemption up to $500K | $8,000 |
| PEI | Full exemption up to $200K | $2,000 |
| Manitoba | None | $0 |
| Quebec | None | $0 |
| Alberta | No LTT exists | N/A |
| Saskatchewan | No LTT exists | N/A |
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