CostBuying in Ontario means budgeting for your down payment, provincial land transfer tax (doubled in Toronto specifically), legal fees, title insurance, and CMHC insurance if you're under 20% down — typically 5-8% of the purchase price in total costs outside the down payment itself.
Down payment
Ontario follows Canada's national tiered minimum: 5% on the first $500,000 of the price, 10% on the portion up to $1.5 million, and 20% above that — see our minimum down payment guide for the full mechanics and examples.
Land transfer tax
Ontario's provincial land transfer tax uses marginal brackets topping out at 2.5% on amounts over $2 million — see our Ontario land transfer tax guide for the full bracket breakdown. If you're buying specifically within Toronto, a second, nearly identical municipal tax applies on top, covered in our Toronto guide. First-time buyers should check the available rebates before assuming the full tax applies.
Legal and other closing costs
Budget separately for legal fees (typically $800-$2,000 all-in, see our legal fees guide), title insurance (a few hundred dollars, see our title insurance guide), and CMHC insurance if your down payment is under 20% — Ontario is one of the provinces where PST on that premium is due in cash at closing rather than financed, see our CMHC insurance guide.
Putting it all together
$700,000 home, Ottawa, 10% down, first-time buyer
| Down payment | $70,000 |
| Land transfer tax (after rebate) | ~$6,725 |
| Legal fees + title insurance | ~$1,800 |
| CMHC premium PST (cash at closing) | ~$1,764 |
| Total cash needed to close (excl. down payment) | ~$10,300 |
Get your exact number for your specific city and price on the closing cost calculator.