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.
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Purchase Price ℹ
ESTIMATE Monthly INTERIM/OCCUPANCY Fees. ℹ
1st month Common Expenses/Maintenance Fees/Condo Feesℹ
Reserve Fund contributions ℹ
Prepaid Property Taxesℹ
Development Charges
Education Leviesℹ
Parks Levies ℹ
Section 37 Leviesℹ
Utility Hook-up chargesℹ
Tarion new home WarrantyCheck table here to calculate
Status Certificate (around $100)ℹ
Builder's lawyer fee for preparing/registering Title/Deed/Transfer on Closing ℹ
Builder's banking fees - wire fees etc.ℹ
Electronic Registration Feeℹ
Deposit Administration / Cheque handling fee ℹ
Mortgage discharge feesℹ
OTHERℹ
Legal Fees - your lawyer fees ℹ
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Toronto Land Transfer Tax (if property is in City of Toronto)ℹ
Ontario Land Transfer Tax (for all properties in Ontario)ℹ
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)*