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Apr 25, 2023 · Find out your closing costs using our interactive closing cost calculator. Get a full breakdown of what you’ll need to pay in Canada, from land transfer taxes to title insurance.
Our RATESDOTCA Closing Cost Calculator can do the math for you. All you need to do is input the required information like the down payment, asking price, land transfer tax, first-time homebuyer rebate, legal fee, to make sure the estimate is as accurate as possible.
A guideline on Average Closing Costs in Ontario ranges between 1.5% to 4% of the Purchase Price, for instance, the closing cost for a property purchase price at $500,000/- would vary between $7,500/- to $20,000/-.
- info@slclawyer.ca
The closing costs you’re required to pay depend on several factors, including the type and price of the property you buy, your down payment amount and where your home is located.
- CAN-legal@nerdwallet.com
On a $500,000 home, expect $7,500 to $20,000 in fees. Major closing costs include land transfer taxes, legal fees, and title insurance. Costs vary by province and property type. For example, Ontario’s land transfer taxes are higher than Alberta’s, and houses generally cost more than condos.
Closing costs in Ontario usually range from 2% to 4% of the property value. This final amount includes land transfer costs, title insurance, lawyer fees, home insurance, and potentially home inspection or appraisal costs.
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Aug 29, 2024 · Because closing costs in Ontario vary so much, it is best to take an example to understand how much you will pay. So, let’s say you buy a house in Ontario for $500,000. We recommend you set aside between $7,500 and $20,000 to cover your closing costs in Ontario.
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