Checklist: the costs and taxes of buying a home in Canada

Updated October 1, 2026 · Checked by the Tax-Services.ca editorial team · How we check

The price on the listing is only part of what you’ll pay. This list covers the costs that surprise people at closing, and the accounts that can help. Print it, and bring it to your first meeting with your lender. Wondering how much to set aside? A common rule of thumb is a few percent of the price, but your own numbers will differ, so run them below.

Print or save as PDF

Before you make an offer

• Your savings plan: a first home savings account, your RRSP and the Home Buyers’ Plan, if they apply to you.
• A budget that includes closing costs on top of the down payment.
• A mortgage pre-approval, so you know your range. It isn’t a promise, though.

Costs on top of the price

Some of these depend on where you live and what you buy, so check each one.

• Land transfer tax or the equivalent in your province, and any extra city tax.
• Legal fees and the cost of title insurance.
• A home inspection and, if your lender asks for it, an appraisal.
• Mortgage default insurance, if your down payment is under 20%.
• GST or HST, if the home is new or heavily renovated.
• Adjustments for property tax and utilities, which your lawyer calculates at closing.

After you move in

• Report the move to the CRA and update your address everywhere.
• Keep the purchase papers for as long as you own the home, since you’ll need them when you sell, and you won’t want to hunt for them then.

Run the numbers

Don’t guess at the big items. It doesn’t take long. The land transfer tax calculator and the closing costs calculator give you a figure for your price, and the mortgage affordability calculator shows what you can borrow.

Read the home buying and selling guide for how the taxes work, and the property and tax guide for the rest. Have you picked a province yet? The province index lists them all.

You’ll feel better with a number in hand, even a rough one, because a surprise at the lawyer’s office is much harder to fix than a line in your budget today.

Frequently asked questions

Is land transfer tax the same everywhere?

No. Some provinces and cities charge it, others use a different tax, and the rates differ. Use the calculator for your own place and price.

Do I pay GST or HST on a home?

On a new home or a big renovation, usually yes. On most resales of a used home, no.

What is the FHSA?

A first home savings account. You deduct what you put in, and you can take the money out tax-free to buy a first home.

Information only. This page is general information, not tax, legal or accounting advice. Tax-Services.ca is an independent publisher: we don't prepare or file tax returns or offer tax services, and we have no connection with the CRA, Revenu Québec, any government or any company named on this page. Check the figures that matter with an official source or a qualified professional.