Closing Costs Calculator

Calculate Buyer Closing Costs

Closing costs are one-time fees that the real estate buyers must pay when they decide to purchase a property in Canada. These costs include, but are not limited to: land or property transfer taxes, lawyer fees and inspection fees. In most cases, they have to be paid upfront and cannot be rolled into your mortgage. Generally, it is a good idea to budget between 3% and 4% of the purchase price of a resale home to cover the closing costs. Find out your closing costs using our calculator below.

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Check all of the following that aply to you or your spouse/common-law partner.

As announced with the 2022 Federal budget, foreign buyers are prohibited from buying residential property in Canada for two years. However, while the bill passes, and after its termination, foreign buyers will need to pay a Non-Resident Speculation Tax (NRST) of 20%.

Total Closing Costs

Excludes your down payment of $100,000

$117,000

Total Closing Costs if home purchased with Sterling Homes

$117,000

Total Closing Costs with Sterling Homes
If you’re buying a home for the first time, claiming the first-time homebuyer credit can land you a total tax rebate of $1,500.
Closing cost breakdown: