08/07/2026
Congratulations! You survived the house hunt, your offer was accepted, and you’re ready to pop the champagne. 🍾✨
But wait... there’s a final boss you have to defeat first. Meet Closing Costs.
Closing costs are like going out for a nice dinner, seeing the total, and then remembering tax, tip, and the fact that they charged you $4 for extra mayo. Except in real estate, that "extra mayo" is usually between 1.5% and 4% of the home's purchase price.
On closing day, you don't just hand over the down payment. You also have to cover:
⚖️ Legal fees (because lawyers don't work for good vibes).
📜 Land transfer taxes (Ontario’s favourite greeting card).
🛠️ Adjustments (like reimbursing the seller because they already filled up the oil tank or prepaid the property tax for the month).
Pro Tip: If you're buying a $700,000 home in Durham, you’ll want to have roughly $10,500 to $28,000 tucked away in cash just for these final-inning fees. Do not spend your couch budget yet!
Have questions about how much cash you actually need to buy a house without crying into your Tim Hortons? Drop a comment or slide into my DMs. Let’s get you prepared! ☕👇
Dan Parker REALTOR®
📞 (905) 439-5108
✉️ [email protected]