Your down payment isn't the only cash you need. Here's what closing costs a Milton buyer should budget for, with a land transfer tax calculator.
A common rule of thumb is to set aside 1.5% to 4% of the purchase price for closing costs, on top of your down payment. The biggest line, by far, is land transfer tax.
Ontario land transfer tax
Milton buyers pay Ontario's land transfer tax only. The extra municipal land transfer tax applies in the City of Toronto, not in Milton.
| Portion of price | Rate |
|---|---|
| First $55,000 | 0.5% |
| $55,000 to $250,000 | 1.0% |
| $250,000 to $400,000 | 1.5% |
| $400,000 to $2,000,000 | 2.0% |
| Over $2,000,000 (homes with one or two single-family residences) | 2.5% |
Eligible first-time buyers can get a refund of up to $4,000.
Estimate only, for homes with one or two single-family residences. Your lawyer will confirm the exact amount and your eligibility for the refund.
Other closing costs
| Cost | What to know |
|---|---|
| Legal fees and disbursements | Your real estate lawyer handles title, the mortgage and the transfer. Get a quote that includes disbursements and HST. |
| Title insurance | A one-time premium that protects against title problems and fraud. Usually arranged by your lawyer. |
| Home inspection | Paid when the inspection is done. See our inspection guide. |
| Property tax and utility adjustments | If the seller prepaid this year's taxes, you reimburse them for the days after closing. |
| PST on mortgage insurance | With less than 20% down, Ontario's 8% sales tax on the insurance premium is due in cash at closing. |
| Appraisal | Sometimes covered by the lender, sometimes not. |
| HST on new builds | Usually included in a new home's price, but check what's in your builder's agreement, including development charges and other adjustments. |
| Moving and setup | Movers, utility connections, home insurance (required by your lender before closing). |
Buying a resale condo or townhouse?
Ask for the status certificate and have your lawyer review it before you go firm. It shows the condo corporation's finances, the reserve fund, and any special assessments coming.
Want a full closing-cost estimate for a specific home? Ask Steve, or see how much you can borrow with a mortgage pre-approval.
Rates current as of October 2026. This is general information, not legal or tax advice.
Ready to Get Pre-Approved?
Start an application on your own time, or talk it through with Steve first.