When will you need the money?
Ask for amounts and due dates, not just a total. Some costs depend on the property, your financing and the agreement. A new build, rural home and resale condo can require different investigations and allowances.
| Stage | Money to allow for | Who can confirm it? |
|---|---|---|
| Before closing | Deposit; inspections and specialist reports; appraisal or document costs if applicable. | Your agreement, inspector, lender and lawyer. |
| At closing | Remaining down payment; land transfer tax; legal fees and disbursements; adjustments; financing-related amounts. | Your lawyer and lender, using the actual transaction. |
| After the move | Movers and setup; immediate repairs; recurring household costs; a cash reserve. | Written quotes, insurers, utilities and your household budget. |
Keep the deposit out of the double-count.
The deposit is paid on the schedule in your purchase agreement. It is generally credited towards the purchase price on completion. If your planned down payment is $100,000 and you have already paid a $25,000 deposit, the remaining down payment is $75,000. You still need a separate allowance for other closing costs. This example illustrates the arithmetic only; it does not set a required deposit or down payment.
Build your cash worksheet.
Enter your own estimates in Canadian dollars. Blank fields mean “not entered”, not a confirmed zero. Put only the down payment still owing in the closing row. Keep mortgage payments and other recurring bills in a separate monthly budget; this worksheet adds one-time cash needs.
Your one-time cash plan / CAD
Use your own quotes. Figures stay on this page and are cleared when you reload. Save a copy with Print / save PDF.
Enter estimates to add your cash plan.
Get a closing estimate for this property.
Ask your lawyer for an itemised estimate of land transfer tax, fees, disbursements, title-related costs and adjustments. Ontario land transfer tax is generally payable when the transfer is registered; refunds or exemptions depend on eligibility. Have the lawyer confirm your situation. For a new or substantially renovated home, also clarify the tax and rebate treatment before relying on a quoted price.
Leave room after moving day.
Before choosing your limit, check the monthly payment alongside property tax, insurance, utilities, maintenance and any condo fees. Then look at what remains for ordinary life and unexpected work. An approved mortgage amount is one input into that decision. Your comfort with the whole budget matters too.
Check the details
These sources explain rules, services and responsibilities. Confirm the details for your property and circumstances with the appropriate professional.
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