Some are hoping that the recent slowdown in Toronto’s real estate market may provide an opportunity. Aleem says step one is to understand what the closing costs will be and to budget accordingly. YOU MIGHT BE INTERESTED IN...Financial expert Jared Ksenica promotes a prudent approach to home-buying, keeping a sharp eye on closing costs, which vary depending on what you buy, where you buy and whether it’s a new build or resale. Toronto land transfer tax: $6,475. He had not only stashed away $40,000 for a down payment, but also the estimated $7,000 for land transfer tax, lawyer fees, title insurance and other closing expenses.

Source: thestar April 13, 2020 09:04 UTC