What are closing costs?

On the day one actually purchases their new home they are required to pay certain costs associated with this endeavour. In addition to one's down payment, the prepaid property tax and homeowner's insurance premiums there will be other fees to consider:

• • Survey charges
• • Land transfer taxes
• • Attorney fees and Disbursements
• • Garbage disposal fees
• • Title insurance
• • Fire insurance
• • New construction will most likely be subject to the HST Tax.