Property transfer context
Plan closing funds with current provincial information.
Ontario charges land transfer tax when land or an interest in land is acquired. Eligible first-time homebuyers may qualify for a refund under provincial rules. Municipal land transfer tax may also matter in places that impose it, so obtain a location-specific closing estimate.
Buyer considerations
Questions specific to the purchase.
- Ask a lawyer for an estimate that reflects both provincial and any applicable municipal land transfer tax.
- For a condominium, assess fees, status information and possible special assessments with qualified advisers.
- Compare commute, maintenance and insurance effects—not only the purchase price.
- Verify first-time buyer status before counting a refund as available cash.
Frequently asked questions
Is the Ontario first-time homebuyer refund automatic?
Eligibility rules apply and a claim is required. Verify the current provincial process and your circumstances before including a refund in the budget.
Is provincial land transfer tax the only transfer tax to consider?
Not always. A municipal land transfer tax may apply depending on location. Your lawyer can provide a property-specific estimate.
Official resources