Closing costs when buying a home: land transfer tax, notary and adjustments
The sticker price isn't the real price.
Welcome tax, notary, inspection, adjustments: Hom24 adds up every forgotten fee and shows the real cash you need on day one.
See it before you sign up
Six screens from the Hidden Costs tab, captured as-is on a Montreal home at $525,000 with 20% down. The verdict: $123,536 to hand over on closing day, $18,536 of which is not the down payment.
The real day-one number
One figure: what has to be in the bank the morning you sign. Below it, what will be left afterwards and the four pockets it comes from. The light turns amber when the margin gets thin.
Every outlay, line by line
Down payment, welcome tax, notary, inspection, moving, tax adjustments and renovation budget. Nothing rounded, nothing bundled: this is the list you will read again on closing day.
What actually weighs
Each line ranked from heaviest to lightest, with its share of the total. Bar length is read against the heaviest line, otherwise the inspection and the adjustments would be invisible slivers.
What is left afterwards
The post-purchase cushion, expressed in MONTHS of expenses rather than dollars. Here 4.1 months against the 3 recommended, computed on $3,252 a month of carrying cost. That is the measure that says whether a surprise is survivable.
The transfer tax, at the right schedule
Province, city, and the land transfer tax computed on the schedule that actually applies. Here $5,986 in Montreal, including the higher brackets the city adopted. A note explains the calculation, province by province.
New is not resale
A resale between individuals is not taxable; a new home is. Hom24 prices the GST, the provincial portion and the rebates the price qualifies for. On this file, $78,619 of tax, and no rebate applies above $450,000.
No surprises at closing
Hom24 prices every day-one outlay so you know exactly how much to set aside.
All closing costs
Welcome tax, notary, inspection, moving and tax adjustments: every line estimated and itemized.
Transfer tax by province
Progressive schedules for Quebec, Ontario, Montreal and more: the transfer tax computed for your region.
Day 1 total
Down payment plus every fee: the exact cash you need in the bank at closing.
Post-purchase reserve
Hom24 checks that a safety cushion is left and recommends 3 months of expenses after the purchase.
Six fields, and orders of magnitude
You never start from a blank page: every field arrives pre-filled with an estimate, and the market range sits under the box. The four sources of cash are entered in the same place.
The transfer tax follows your address
Quebec, Ontario and British Columbia share neither the same schedule, nor the same rebates, nor the same municipal taxes. Hom24 applies the one for your city, not a Canadian average.
What is left matters just as much
A purchase that empties the account is not a successful purchase. Hom24 subtracts your day-one costs from your available cash and says, in plain words, when the margin gets too thin.
The app dresses the way you want
The screenshots on this page are in Desert. The app offers four styles, picked at sign-up and changed whenever you like. Here is the same total in each one.
Your real cash needs in 3 steps
Enter the price, Hom24 applies your province's schedules and prices everything.
Enter the property
Purchase price, down payment, province and municipal assessment.
Hom24 prices it
Welcome tax, CMHC premium, notary and adjustments are estimated using the schedules in force.
Set aside the right amount
Discover your Day 1 total and the reserve you will have left after the purchase.
Know exactly how much to set aside
Estimate your hidden costs for free. No credit card required.