Closing costs on a new home in Ontario: the complete list
The price is not the price. Here is everything else that falls due at closing.
Updated
A new-home closing may include contractual adjustments and charges in addition to land transfer tax and legal costs. Identify each amount and who pays it in the agreement, separately from deposits already paid.
What you will be asked to pay
- Ontario land transfer tax, generally calculated on the statutory value of consideration; confirm the tax base with your lawyer
- Possible development, education and other charges where the agreement permits them; confirm amounts and caps
- Utility and meter enrolment or hook-up charges
- Any warranty/enrolment charge payable by the buyer under the agreement
- Legal fees and disbursements, including title insurance and registration
- Adjustments: property tax, occupancy or interim occupancy fees, and any prepaid items
- HST treatment, including rebate assignment where applicable
The cap clause
Development levies are the item most likely to produce an unpleasant surprise, because they can rise between signing and closing. Many agreements cap the buyer's exposure, but the cap has to be negotiated and written in — it is not automatic.
Request a written schedule of adjustments and any levy cap before signing. Confirm which costs remain uncapped.
First-time buyers
Ontario offers a land transfer tax refund for eligible first-time buyers, subject to conditions. Confirm eligibility with your lawyer; the rules on occupancy, spousal status and prior ownership are specific.
Prepare a closing-cost worksheet
Separate price, deposits already paid, remaining down payment, taxes, contractual adjustments and legal costs. Ask for low/high estimates where documents permit a range.
An HST or rebate clause may change the cash required at closing. The Valley Brooke headline does not establish tax inclusion or eligibility.
| Decision check | Evidence to collect |
|---|---|
| Which charges are fixed, capped or open-ended? | Record the answer, document reference and follow-up owner before committing. |
| What tax assumptions are embedded in the quoted price? | Record the answer, document reference and follow-up owner before committing. |
| What cash remains after the down payment and legal adjustments? | Record the answer, document reference and follow-up owner before committing. |
Your next step for Valley Brooke Towns
Use the published home format and size range to decide whether to request more detail. Tenure, model-specific pricing, deposits, floor plan drawings and contractual dates remain unknown. A review request does not reserve a home, and a booked VIP review time does not either.
- Keep a dated document checklist for the subject covered in this guide.
- Ask a qualified professional to review transaction-specific legal, tax or financing questions before signing.
Common questions
Which charges are fixed, capped or open-ended?
Mark each adjustment clause as fixed, capped or variable. Ask the lawyer to explain the amounts that cannot yet be calculated.
What tax assumptions are embedded in the quoted price?
Confirm HST inclusion, rebate assignment and what happens if eligibility fails. The high-$800s headline establishes none of these.
What cash remains after the down payment and legal adjustments?
Prepare a closing statement estimate subtracting deposits already paid and adding the remaining down payment, adjustments, taxes and legal costs; leave an agreed contingency.
Sources and further reading
- Tiffany Park Homes — Valley Brooke Towns
- CRA — GST/HST new housing rebate
- CRA — first-time home buyers GST/HST rebate
- Ontario — calculating land transfer tax
- Ontario — first-time homebuyer land transfer tax refund