The full cost of buying a home in Canada
A complete, checkable list of the cash you need to close a Canadian purchase — what each line is, when it is due, who sets it, and the official place to confirm the amount for your province and municipality. No national averages are published here, because the two biggest lines depend entirely on price and jurisdiction.
How much does it cost to buy a home in Canada?
Buying a Canadian home costs the purchase price plus a separate pool of cash: the deposit, the balance of the down payment, mortgage default insurance if you are below the 20% threshold, provincial and sometimes municipal land transfer tax, legal fees and disbursements, title insurance, inspection, appraisal, closing adjustments, and moving. Only your lender, lawyer and provincial tax authority can confirm the exact figures.
- Jurisdiction
- Canada — provincial and municipal rules vary
- Page reviewed
- 2026-09-01
These are illustrative estimates based on the values you entered. Actual costs depend on your lender, municipality, insurer, utility provider, and the condition of the property. Confirm every figure before making a decision.
Every cash line in a Canadian purchase
Work down this table and write a sourced figure beside each row. A line you cannot source yet is a line to ask about, not a line to guess. The right-hand column names the single party who can give you a binding number.
| Cost line | When it is due | Who sets it | Where to verify |
|---|---|---|---|
| Deposit | With the accepted offer | Negotiated in the purchase agreement; held in the brokerage trust account | Your purchase agreement and your real estate lawyer |
| Down payment (balance) | At closing | Minimum thresholds are set federally and applied by your lender; the rest is your choice | Your lender's written commitment letter |
| Mortgage default insurance | Added to the mortgage, or paid at closing | Required by law below the 20% down payment threshold; premium set by the insurer | CMHC / Sagen / Canada Guaranty schedule via your lender |
| Land transfer tax | At closing | Province, and separately by some municipalities (Toronto, Montréal and others) | Provincial ministry of finance and your lawyer's statement of adjustments |
| Legal fees and disbursements | At closing | Your lawyer or notary; disbursements are pass-through registry charges | A written quote from the firm, itemised |
| Title insurance | At closing | Title insurer, usually arranged by the lawyer | The policy quote in your lawyer's cost estimate |
| Home inspection | Before waiving conditions | The inspector, by property size and scope | A written quote and a sample report before you book |
| Appraisal | Before closing | Lender-ordered; sometimes waived or absorbed by the lender | Your mortgage commitment letter |
| Statement of adjustments | At closing | Reimbursing the seller for prepaid property tax, utilities, condo fees and fuel in the tank | The lawyer's statement of adjustments, three days before closing |
| Sales tax on a new build | At closing | GST/HST rules and any provincial or federal new-housing rebate you qualify for | The builder's agreement and the Canada Revenue Agency |
| Moving and immediate set-up | Closing week | Movers, utility connection charges, locks, and any immediate safety work | Written quotes; utility account set-up confirmations |
How to build your own number in one sitting
- Fix the price band. Every percentage-based line — land transfer tax, default insurance, some legal disbursements — moves with price, so pick the top of the band you would actually offer at.
- Get the lender's written commitment. It states your down payment requirement, whether default insurance applies, whether an appraisal is charged to you, and any lender fees.
- Run the official land transfer tax calculator for your province, then check whether your municipality levies its own. Apply first-time buyer rebates only after confirming eligibility on the official page.
- Ask the lawyer for an itemised quote covering fees, disbursements, title insurance and registration — not a single lump number.
- Book the inspection with a written scope. Ancillary tests (sewer scope, radon, oil tank, asbestos sampling) are usually separate charges.
- Add the first-year carrying cost. Closing is one day; the mortgage, tax, insurance, utilities and maintenance reserve continue. Model that in the Total Cost Planner.
What to verify, and who to ask
What affects the amount
- Purchase price, which drives land transfer tax and default insurance premium
- Province and municipality — some cities levy a second land transfer tax
- Down payment size relative to the federal insurance threshold
- Property type: new build (sales tax and rebates), condo (status certificate fees), rural (well, septic, private road)
- First-time buyer status and any provincial or municipal rebate you actually qualify for
- Closing date, which determines how large the seller reimbursement adjustments are
What to verify yourself
- The lender's commitment letter, including all lender-charged fees
- The provincial land transfer tax amount from the official calculator
- Whether your municipality charges its own transfer tax
- The lawyer's itemised quote for fees, disbursements and title insurance
- The draft statement of adjustments before closing day
- For new builds: the GST/HST treatment and rebate eligibility in the builder's agreement
- For condos: status certificate cost, reserve fund position and any special assessment
Who to ask
- Your mortgage lender or broker — down payment, insurance premium, lender fees
- Your real estate lawyer or notary — closing costs, registration, adjustments
- The provincial ministry of finance — land transfer tax and rebates
- Your municipality — municipal transfer tax, property tax billing, permits
- Your insurance broker — the binder required before the lender funds
- Your inspector — scope, exclusions and the cost of ancillary tests
Official sources
Source links checked 2026-09-01. Rules and thresholds change; confirm the version on the official page rather than relying on this summary.
- Financial Consumer Agency of Canada — buying a home
Federal plain-language guidance on down payments, closing costs and mortgage terms.
- CMHC — mortgage loan insurance for consumers
Current mortgage default insurance rules, eligibility and premium schedule.
- Canada Revenue Agency — First Home Savings Account
Registered account rules that change how much cash you can assemble tax-free.
- Bank of Canada — interest rates
Reference rates. Your contract rate comes from your lender, not from this page.
- Statistics Canada — housing
Official price and shelter-cost statistics if you need published national data.