The Costs

Please note all figures quoted below are subject to change without notice

In most cases REALTORS® that help you purchase a home are paid by the Sellers via the Seller's Brokerage. Only in rare situations where this were not the case then the REALTOR Fee is paid by the Buyer.


5% GST: applies in many cases to newly built homes, or existing homes that have recently undergone extensive renovations, if there is commercial component. Speak to a qualified professional to find out if GST is applicable. First time buyers may be eligible for the GST housing rebate. (GST/HST Calculator)

Property Transfer Tax:

1% on the first $200,000 of the sale price and

2% of the fair market value greater than $200,000 up to and including $2,000,000,

3% on the portion of the fair market value greater than $2,000,000

If the property is residential, a further 2% on the portion of the fair market value greater than $3,000,000

If you are a foreign national, foreign corporation or taxable trustee in certain areas there is an additional 20% of the fair market value of your proportionate share.

Speak to a qualified professional to find out if any additional PTT applies.

First-time buyers may be exempt from paying this tax. (Property Transfer Tax)

Prepaid property taxes or utility bills:

You will have to reimburse the sellers for any prepaid property taxes or utilities. Generally property taxes for the calendar year are paid at the beginning of July. If you purchase a property before July 1st, the seller will be paying you for the days they owned the home after January 1st. If you purchase a property after July 1st, you will pay the seller for the days you own the property before December 31st.

Mortgage loan insurance:

If you get a high-ratio mortgage (a mortgage where you pay less than a 20% down payment) you will have to buy mortgage loan insurance from CMHC or a private company. The insurance premium usually gets added to your mortgage.

Mortgage application fee:

You will also have to pay an application fee.

Property Appraisal:

Before your lender approves your mortgage, you may be required to have an appraisal done. Sometimes your lender covers this cost otherwise you are responsible for covering this cost. The fee ranges from $150 to $400.

Survey certificate:

Your lender may require an up-to date survey of the property. If the seller did not provide you with one, you will have to pay to have one done. the fees range from about $150 to $350. Surveys are not necessary if the purchaser is buying strata property.

Home Inspection Fee:

It is recommended that you get a home inspection by a certified home inspector. (CAPHI) The fees range from $400 to about $700.

Legal Fees:

Lawyers/Notaries, fees vary depending on complexity, expect approximately $1000 for a purchase and $800 for a sale.

Disbursements to Land Title Office.

These fees are about $350. Your lawyer or notary will arrange this payment.

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