Pre-Construction Condo Closing Costs Calculator
When it comes to closing costs on pre-construction condos, there is a lot of misinformation out there.
Click here to learn about 5 things you should know about closing costs when investing in a pre-construction condo.
You may have heard some horror stories of buyers being hit with closing costs of $50,000 in extra costs on final closing, and you start to wonder why are thousands of people buying pre-construction condos every year in Toronto if this were true?
The reality is that if you are educated and prepared when buying a new condo, closing costs are nothing to be worried about.
Use our exclusive Pre-Construction Condo Closing Costs Calculator below to get an idea of your upcoming closing costs.
Purchase Price
ESTIMATE Monthly INTERIM/OCCUPANCY Fees.
1st month Common Expenses/Maintenance Fees/Condo Fees
Reserve Fund contributions
Prepaid Property Taxes
Development Charges
Education Levies
Parks Levies
Section 37 Levies
Utility Hook-up charges
Tarion new home WarrantyCheck table here to calculate
Status Certificate (around $100)
Builder's lawyer fee for preparing/registering Title/Deed/Transfer on Closing
Builder's banking fees - wire fees etc.
Electronic Registration Fee
Deposit Administration / Cheque handling fee
Mortgage discharge fees
OTHER
Legal Fees - your lawyer fees
Ontario Land Transfer Tax (for all properties in Ontario)
TOTAL Due on FINAL closing for principle residence user IN ADDITION to BALANCE DUE ON FINAL CLOSING
HST due - if this is an investment/rental property:
More on FINAL CLOSING if you do NOT live there (HST Residential Rebate)
More on FINAL CLOSING if you do NOT live there (HST Residential Rebate)
Due on FINAL closing for Investors IN ADDITION TO BALANCE DUE ON FINAL CLOSING
Get back in 4 months with 1 year lease with Tenant (HST Rental Housing Rebate)*