Nothing costs Etobicoke buyers more than surprise closing costs. I’m Jatin Dua, RE/MAX Quantum Realty — here’s every dollar you’ll need beyond the down payment, with real 2026 numbers.
Land transfer tax — the big one
Buying in Etobicoke means you’re in Toronto, so you pay both Ontario’s land transfer tax and Toronto’s municipal LTT. On an $800,000 condo that’s roughly $12,475 provincially plus about the same municipally — near $25,000 combined. First-time buyers get rebates of up to $4,000 (Ontario) and $4,475 (Toronto). Run your exact figure in my land transfer tax calculator.
Legal fees and disbursements
Budget $1,800–$2,800 for a real estate lawyer including title search, registration and disbursements. Title insurance typically runs $250–$500 for a condo.
Status certificate and condo-specific costs
The status certificate is capped at $100. On closing you’ll also reimburse the seller for prepaid maintenance fees and property taxes, and most corporations charge a move-in fee or deposit ($200–$500).
Mortgage-related costs
Appraisal ($300–$500 if your lender requires one), mortgage default insurance if you’re under 20% down (added to your mortgage, but Ontario charges 8% PST on the premium at closing — that’s $2,000–$5,000 in cash you must have), and possible interest adjustment.
Pre-construction extras
Buying new? Add development charges (cap these in your agreement), Tarion enrolment, utility hookups, and occupancy fees during interim occupancy. My Pre-Construction Hub covers the full picture — and the GST rebate that can return up to $50,000.
The realistic total
For an $800,000 Etobicoke resale condo, plan on 1.5%–4% of purchase price in closing costs — roughly $12,000–$32,000 depending on first-time buyer status and your down payment. I give every client a line-by-line projection before they make an offer.
FAQ — Closing Costs in Etobicoke
How much are closing costs on a condo in Toronto?
Typically 1.5%–4% of the purchase price. Toronto’s double land transfer tax is the largest single item; first-time buyers reduce it significantly through rebates.
Do I pay HST when buying a resale condo?
No HST on the purchase price of a resale home. You do pay HST on services like legal fees, and new builds have HST built into the price (with rebates available).
What’s the biggest surprise cost for first-time buyers?
The PST on mortgage default insurance — it’s payable in cash at closing and catches most people off guard. Second is prepaid property tax reimbursement to the seller.
Can closing costs be added to my mortgage?
Generally no — lenders require closing costs in cash, and most want proof of 1.5% of the purchase price available. Plan for it early. Ask me for a full projection.
About Jatin Dua — Your Etobicoke Real Estate Agent
Jatin Dua is a Realtor with RE/MAX Quantum Realty who focuses on Etobicoke — The Queensway, Humber Bay Shores, Mimico, Islington–City Centre and the Kingsway. If you’re searching for a top agent in Etobicoke who knows these streets building by building, book a free consultation, explore the Etobicoke community guide, or see every new project on my Pre-Construction Hub.