Agent In Ottawa - Real Estate Services
  • Home
  • MLS® & Map Search
  • Houses
  • Condos
  • Income Property
  • Stats
  • About
  • Blog
Login
613-786-2632

Sign in to your account

Need to reset your phone number?

Don't have an account with us?

Click here to sign up.

Closing Costs for buying a home

When purchasing a home, the closing costs can be considerable. See below for typical charges to expect when you buy a home. It is important to plan for and have the ability to pay them.

For the most part, they are due on “closing”, this is the date you take possession of your home.

A general rule of thumb is to budget approximately 1 ½ to 2% of the value of the home as your closing costs.

For example a $400,000 home would expect to have closing costs of about $6,000 to $8,000.

Budget more for buying a new home from a builder.

No, the builder is not trying to squeeze more money out of you, but HST is payable on new home purchases. Fortunately you will likely not have to pay the full amount. Your lawyer and/or the builder will discuss the federal government partial rebate on new homes.

Additionally the provincial government runs programs from time to time to give first time home buyers a partial rebate on Land Transfer Taxes.

Below are typical costs on purchasing a resale property.

Land Transfer Tax and calculations:

Price of Property                              Taxable Amount (Calculate Amount Payable)

 Under $55,000                                Multiply by .005

 $55,000 - $250,000                       Multiply by .010 then deduct $275

 $250,000 - $400,000                     Multiply by .015 then deduct $1,525

 Over $400,000                                Multiply by .020 then deduct $3,525

(Example for a $400,000 property:
$400,000 X .020 = $8,000 - $3,525 = $4,475)

Legal Fees:

Purchase costs (approximate)                 $900 to $1,000 plus HST and

Disbursements                                       $700 to $1,000

Building Inspector cost:

Approximate                                          $400 to $500 plus HST

This cost is for a single family residential property. Multifamily buildings will cost more and prices will vary depending on the number of units in the building.

Other Costs (Disbursements incurred by your lawyer):

Title Insurance                                       $270 to $378
(purchase price up to $500,000)

Title Insurance                                       $162 to 193
(condominium)

Registration of Deed                              $71
Tax Certificate                                       $45 to 72
Water Certificate                                    $72
Gas Certificate                                       $17
Hydro Certificate                                    $11 to $17
Title Search                                            $200
Zoning/Compliance                               $226
Copy/Postage/Courier/etc.                    $100
Status Certificate (condo only)               $113
Survey (if needed)                                  $1,200
Adjustments i.e. taxes, condo fee          as required

Adjustments:

As in the case of a purchase, items such as oil, property taxes and condominium fees are adjusted for up to the day of closing.

If the Seller, for example, has paid the property taxes or condominium fees which, when calculated on a daily basis, covers a period beyond the closing date, the Seller is reimbursed by the Buyer on closing.

If the Seller has underpaid, the Buyer receives a credit on closing. If the house is heated by oil, the Seller fills the tank for closing and is reimbursed by the Buyer for a full tank.

NOTE: above costs are approximate but will provide a good basis for budgeting purposes.  Not all of the above items are required. Additionally, with the purchase of “Title Insurance” (your lawyer will discuss with you) the purchases of many of the above items are no longer needed. Title Insurance can therefore pay for itself.


As well as closing costs, you might be interested how we, as REALTORS get paid.

You never pay us any commission when you work with us as we never charge our buyers for our service When you buy a home and you have an agent representing your best interests it's good to know how your agent gets paid.

There are circumstanses where you'll be liable to pay your buyer agent some commission costs.

When you hire us to represent you in your purchase, you will never have to pay us a cent !

Buyer Guarantee, in writing at the start.

We work for our buyer clients and protect their interests fully and never ask them to pay us anything.

You can buy a resale home, a new construction home or condo, an income property, a rural property or farm, a commercial property, vacant land and even a For Sale By Owner and we'll still be able to navigate you through all of the obstacles and paperwork and it won't cost you anything because we will ensure that the seller will pay us.

Don't get to the point of making an offer on your new home, only to discover that you're going to have to pay your agent thousands of dollars more on top of the purchase price of the home because of the legalities of your buyer agency agreement.

Like or Share
Loading likes...

Address Search

Want to Sell Your Home?

Get Your Home Evaluation

Buying a Home - Articles

  • No Commission Fees for Buying
  • Legal Fees when Buying
  • Closing Costs when Buying
  • Amendments to an Offer
  • First Time Buyers
  • Buying a Brand New Home
  • Vacant Possession at Closing
  • Buying in Ottawa from Overseas
  • Crime Rates in Ottawa
  • Mortgage Pre-Approval
  • Home Buyers Plan
  • School and Bus Information
  • Tarion Warranty Update
  • Home Insurance Issues
  • Grow Houses
  • Home Inspectors
  • Home Buyer Seminar
  • Financing Your Purchase

Start a New MLS® Search

  • Search all Listings
  • Search Condos only

Houses and Townhomes for Sale

  • All Houses in Ottawa
  • Houses in Kanata
  • Houses in Barrhaven
  • Houses in Orleans
  • Downtown Houses
  • Newer Houses
  • Houses Under $500K

Condos & Apartments for Sale

  • All Condos in Ottawa
  • Condos in Kanata
  • Condos in Barrhaven
  • Condos in Orleans
  • Downtown Condos
  • Newer Condos
  • Condos Under $300K

Bungalows and High Ranch Homes

  • All Ottawa Bungalows
  • Bungalows in Kanata
  • Barrhaven Bungalows
  • Bungalows in Orleans

Listings by Neighbourhood or Type

  • View all Listings by Neighbourhood
  • View all Listings by Type of Property

Investing in Ottawa Real Estate

  • Intro to Investing
  • Multifamily Listings
  • Building Appraisal
  • Multifamily Market

Real Estate Market - MLS Statistics

  • Ottawa Market
  • Kanata Market
  • Barrhaven Market
  • Orleans Market

Sold Prices & Area Market Reports

  • Compare House Prices by Neighbourhood
  • Neighbourhood Market Reports & Sold Prices

  • Ottawa Guide
  • Sell a Home
  • Buy a Home
  • Relocate/Military
  • Going to Uni.
  • Contact
  • Careers

Agent In Ottawa - REALTORS®
613-788-2590

RE/MAX Hallmark Realty Group, Broker
610 Bronson Avenue, Ottawa ON K1S 4E6
Mon-Fri: 9AM - 9PM
Sat-Sun: 9AM - 6PM

Content © Copyright AgentInOttawa, All Rights Reserved, read our Privacy Policy

Homes for Sale by Community

  • Central Core
  • West End
  • Far West
  • East End
  • South End
  • Riverside S.
  • Stittsville
  • Kanata
  • Manotick
  • Orleans
  • Barrhaven
  • All Outskirts

By using this site you agree to the following: Disclaimer

  • REALTOR®, REALTORS®, and the REALTOR® logo are certification marks that are owned by REALTOR® Canada Inc. and licensed exclusively to The Canadian Real Estate Association (CREA). These certification marks identify real estate professionals who are members of CREA and who must abide by CREA's By-Laws, Rules, and the REALTOR® Code. The MLS® trademark and the MLS® logo are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA.
  • The information contained on this site is based in whole or in part on information that is provided by members of The Canadian Real Estate Association, who are responsible for its accuracy. CREA reproduces and distributes this information as a service for its members and assumes no responsibility for its accuracy.
  • This website is operated by a brokerage or salesperson who is a member of The Canadian Real Estate Association.
  • The listing content on this website is protected by copyright and other laws, and is intended solely for the private, non commercial use by individuals. Any other reproduction, distribution or use of the content, in whole or in part, is specifically forbidden. The prohibited uses include commercial use, "screen scraping", "database scraping", and any other activity intended to collect, store, reorganize or manipulate data on the pages produced by or displayed on this website.

Trusted listings from REALTOR® Agents. The MLS® mark and associated logos identify professional services rendered by REALTOR® members of CREA to effect the purchase, sale and lease of real estate as part of a cooperative selling system.


©2021 The Canadian Real Estate Association. All rights reserved. The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by CREA and identify real estate professionals who are members of CREA.

IDX Real Estate Websites by
• Accessibility • Terms • Privacy