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Between $7,500 and $20,000
- We recommend you set aside between $7,500 and $20,000 to cover your closing costs in Ontario.
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Closing costs in Ontario are the essential yet often underestimated expenses involved in purchasing a home. These costs encompass various fees beyond the property’s purchase price, playing a pivotal role in the home-buying journey.
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/-.
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Oct 15, 2024 · Closing costs apply to both home buyers and sellers in Ontario. Typical closing fees range from 1.5% to 4% for buyers and 1% to 3% for sellers. Major buyer costs include land transfer taxes, legal fees, and lender disbursements.
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.
Sep 28, 2023 · Closing costs can vary widely, making it challenging to pinpoint an exact amount for each homeowner. However, financial experts generally recommend budgeting between 1.5% and 4% of the home’s purchase price. For instance, if you’re buying a home for $500,000, you should set aside a minimum of $7,500 and a maximum of $20,000 for closing costs.
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Aug 2, 2023 · All buyers must pay some closing costs regardless of where they live in Ontario or the type of home they buy, and there are buyer-specific closing costs. In Ontario, real estate agents usually recommend budgeting between 1.5% and 4% of the home’s purchase price.
