Expenses to Expect

It’s very important to have a full understanding of the closing expenses when buying a home. We have made a breakdown of the standard upfront expenses you’ll need to know and understand when purchasing a home in Toronto.




There are a couple of variables that are involved with Land Transfer Taxes. Everyone in the Province of Ontario is required to pay the Provincial Land Transfer. If you are a first time buyer you will get a rebate up to a maximum of $2,000 depending on your purchase price.

If you purchase in the City of Toronto you will be required to pay the Toronto Municipal Land Transfer Tax as well as the Provincial Land Transfer Tax. If you are a first time buyer you will get the provincial rebate stated above as well the Toronto rebate up to a Maximum of $3,725.00.We have provided a land transfer tax calculator on our site for easy calculation.


On average budget for $1,000 to $1,500 for legal fees when buying. These fees cover essential legal procedures for homeowners like a title search and title insurance.


This cost that ranges for anyone from either a few cases of beer and pizza for your friends or $1,000 to $2,000 for a moving company. We recommend calling two or three moving companies to get a few quotes. Insured moving companies are more expensive but your belongings are protected against loss, damage, or theft.


All new homes and condos are required to pay HST on the purchase price of their home. Builders will usually offer rebates on these fees. It is also important for new homes and condo buyers to be aware of all the extra Levy Fees that are included in the builder’s agreement of purchase and sale. These fees can range for a $1000-$10,000 and tend to be the biggest surprise for most unrepresented buyers.


While not mandatory, many home owners choose to get a home inspection for peace of mind. Home inspections typically cost $400 to $600. Home inspections give the structural condition and state of the home.


You will need to have house insurance in place before your closing date. Typical insurance for the average Toronto house is around $60-$80 dollars a month.

About Us

Stevens Team is a Real Estate group that specializes in residential properties throughout Toronto and the GTA. Our mission is to help our Clients find the best homes or investment properties that meet their requirements. Whether buying, selling or renting we believe that it is vital to inform our clients on the current and future market trends, giving them the best possible opportunities in all matters related to real estate. We see property as a home, a place to live, and as a foundation for future financial equity and security.