Closing costs when buying a home in Ontario typically range from 1.5% to 4% of the purchase price, and every buyer should budget for them on top of their down payment. Flowers Team Real Estate, having helped over 3,000 families close on homes since 2001, makes sure every client is financially prepared well before closing day — surprises at the closing table are not something we allow to happen.

Here is a breakdown of the most common closing costs:

• Ontario Land Transfer Tax — calculated on a sliding scale. On an $800,000 home, approximately $12,475. First-time buyers receive a rebate of up to $4,000. See Ontario Land Transfer Tax — ontario.ca.
• Toronto Land Transfer Tax — applies only within the City of Toronto. Does not apply to Milton or most of Halton Region.
• Legal fees and disbursements — typically $1,500 to $2,500 for a real estate lawyer to handle title transfer, mortgage registration, and closing.
• Title insurance — approximately $200 to $400, protecting against title defects and fraud.
• Home inspection — $400 to $600, strongly recommended on all resale purchases.
• Property tax adjustment — if the seller has prepaid property taxes, you reimburse the portion covering your ownership period.
• CMHC mortgage insurance premium — if your down payment is less than 20%, this is added to your mortgage (2.8% to 4% of the mortgage amount). Use the CMHC Premium Calculator to estimate your cost.
• Moving costs, utility hookups, and immediate repairs — vary widely, but budget accordingly.

On a typical $800,000 home in Milton with a 10% down payment, budget approximately $15,000 to $25,000 in closing costs on top of your down payment. Flowers Team Real Estate walks every client through a full closing cost estimate early in the process. Connect with us to get a personalized estimate.