Closing costs

This post was originally published on July 13, 2020, and was updated on June 16, 2023 A million dollars used to be enough money to set you up …

The home buying process is expensive. There’s the down payment—which must be at least 5% of the home’s purchase price—as well as closing costs. If you’re buying a home in Toronto or Vancouver, you can expect … Read More

Buying a home is expensive. First, there’s the down payment, which can amount to tens of thousands of dollars. Then there are the closing costs, which are the administrative and legal costs you need to pay … Read More

Sponsored by: Before buying their first home, Rosemary and Andrew lived in a condo they rented in downtown Toronto.

I thought I’d start out this month’s update with a credit crunch joke, since we’ll be reviewing some policies born out of it: I went to the ATM this morning and it said “insufficient funds”. I’m … Read More

In Canada, one of the largest closing costs any homebuyer will face is land transfer tax (LTT). Every province charges a LTT to buyers, except Alberta and Saskatchewan who instead levy a much smaller fee. The … Read More