On a $910,000 Georgetown purchase, closing costs run somewhere between $13,000 and $18,000 in cash. On top of your down payment. Due on closing day, not a week later.
Every first-time buyer I work with knows closing costs exist. Almost none of them have a real number in their budget until we sit down and add it up. So let's add it up, using actual Georgetown price points instead of the $500,000 example every generic Ontario article uses. Homes here don't cost $500,000, and the biggest closing cost scales with price.
Land Transfer Tax: The Big One
Ontario's land transfer tax is the largest single closing cost for almost every Georgetown buyer. It's marginal, like income tax: 0.5% on the first $55,000, 1% up to $250,000, 1.5% up to $400,000, and 2% on everything from $400,000 to $2 million.
One piece of good news before the numbers. Georgetown is in Halton Hills, not Toronto, so the City of Toronto's second land transfer tax doesn't apply here. Buyers moving out from the city sometimes forget this. It's a genuine saving of five figures on most purchases.
Here's what the provincial tax works out to at real local price points, and what's left after the first-time buyer rebate of up to $4,000:
| Purchase Price | Land Transfer Tax | After FTB Rebate |
|---|---|---|
| $650,000 (condo) | $9,475 | $5,475 |
| $750,000 (townhome) | $11,475 | $7,475 |
| $910,000 (semi or larger town) | $14,675 | $10,675 |
| $1,150,000 (detached) | $19,475 | $15,475 |
Notice something about that rebate. The full $4,000 only wipes out the tax on homes under about $368,000. There hasn't been a $368,000 home in Georgetown in a very long time. So yes, claim the rebate, your lawyer handles it automatically at closing. Just don't let an out-of-date article convince you it makes the tax go away.
The rebate covers the full tax on a $368,000 home. Georgetown hasn't seen one of those in years. Budget for the difference.
The Tax Nobody Warns You About
If you're putting down less than 20%, your mortgage carries default insurance. The premium itself gets added to your mortgage balance, which most buyers know. What catches people is this: Ontario charges 8% PST on that premium, and the PST is due in cash at closing. It can't be rolled into the mortgage.
On a $750,000 townhome with the $50,000 minimum down payment, the insurance premium is about $28,000. The PST on that is $2,240. Cash. On closing day. I've watched that line item genuinely surprise buyers who thought they'd budgeted everything, because it appears on exactly one document before closing: your lawyer's statement of adjustments, which you typically see days before you need the money.
Everything Else, Itemized
- Legal fees and disbursements: $1,500 to $2,200 for a straightforward Georgetown purchase, including title search and registration. Cheaper exists. With the biggest transaction of your life, mid-range is my honest recommendation.
- Title insurance: $450 to $950 depending on price. One-time premium, arranged by your lawyer, and virtually every lender requires it.
- Home inspection: $450 to $650. Not technically a closing cost and not always winnable in a competitive offer, but on Georgetown's older stock, the wartime homes and anything rural on well and septic, skipping it is false economy.
- Appraisal: $350 to $550, though on insured purchases the lender often covers it or the insurer's valuation replaces it. Ask; don't assume.
- Adjustments: reimbursing the seller for prepaid property taxes or utilities. Commonly $500 to $1,500 in Halton Hills depending on timing.
- The move itself: $1,000 to $2,500 for movers, plus utility setups. Not on the lawyer's statement, still leaving your account the same week.
Lenders on insured purchases require proof you hold 1.5% of the purchase price for closing costs, separate from your down payment. On a $750,000 purchase that's $11,250 they want to see in your account. As the table below shows, that requirement is not padding. It's about right.
The Full Picture on a Real Purchase
Here's the whole thing added up for a first-time buyer purchasing a $750,000 Georgetown townhome with the minimum down payment:
| Item | Cost |
|---|---|
| Land transfer tax (after $4,000 rebate) | $7,475 |
| PST on mortgage insurance premium | $2,240 |
| Legal fees and disbursements | $1,800 |
| Title insurance | $650 |
| Home inspection | $550 |
| Adjustments (estimate) | $900 |
That's the number that matters. Not the down payment alone. When buyers tell me they've saved $55,000 for a $750,000 purchase, we're not ready yet, and it's far better to know that in the pre-approval conversation than three days before closing.
Want this math done on your actual target home?
Book a free call. I'll run your complete cash-to-close number for the exact price range you're shopping, so nothing surprises you at the lawyer's office.
Book a Discovery CallHow to Budget for It
My rule for Georgetown buyers: set aside 2% of the purchase price for closing costs if you're putting down less than 20%, and 1.5% if you're at 20% or more (no insurance means no PST on a premium). Park it separately from your down payment fund so you're never tempted to promise it to a seller.
If you're still building that fund, your FHSA covers closing costs too, not just the down payment, since qualifying withdrawals just need to be for the home purchase. I cover the whole savings stack in my Georgetown first-time buyer guide, and the full purchase timeline in every step from offer to approval. And if you want the local context on prices and neighbourhoods first, start with my Georgetown mortgage page.
Frequently Asked Questions
How much are closing costs on a home in Georgetown, Ontario?
Plan on 1.5% to 2% of the purchase price in cash, on top of your down payment. On a $750,000 purchase that's roughly $13,000 to $14,000 for a first-time buyer with less than 20% down: land transfer tax after the rebate, PST on the mortgage insurance premium, legal fees, title insurance, inspection, and adjustments. Higher price points scale up mostly because land transfer tax does.
Do Georgetown buyers pay the Toronto land transfer tax?
No. The municipal land transfer tax only applies within the City of Toronto. Georgetown is in Halton Hills, so you pay only the provincial tax. On a $910,000 purchase, that saves you over $14,000 compared to buying the same-priced home in Toronto.
Can closing costs be added to my mortgage?
Mostly no. The default insurance premium gets added to the mortgage, but land transfer tax, the PST on that premium, legal fees, and title insurance are all cash at closing. This is exactly why lenders on insured files require proof of 1.5% of the purchase price in liquid funds beyond your down payment.
What is the PST on mortgage default insurance?
When you buy with less than 20% down, your mortgage carries default insurance from CMHC, Sagen, or Canada Guaranty. The premium itself rolls into your mortgage, but Ontario charges 8% provincial sales tax on it, payable in cash on closing day. On a typical Georgetown townhome purchase with minimum down, that's around $2,000 to $2,500 most buyers haven't budgeted.
Who claims the first-time buyer land transfer tax rebate, and when?
Your real estate lawyer claims it electronically at closing, so the rebate of up to $4,000 comes off the tax before you pay it rather than arriving as a refund cheque later. To qualify, you can't have owned a home anywhere in the world before, and if you're buying with a spouse, their history affects your share. Flag your first-time status to your lawyer and your mortgage agent early.