Closing Costs: It's about more than your down payment

The first step in buying a home is deciding on a budget. 
How much house can you afford? Within what price range will you shop?
A down payment is, unfortunately, only one part of that budget. 
To correctly determine the affordability of a home, it’s essential that prospective buyers consider the costs that arise at the time of closing.

Closing costs vary from province to province and from municipality to municipality, and they can represent anywhere from 1 to 4 per cent of a home’s selling price, according to
That may not sound like much, but when you’re looking to buy a $750,000 home, closing expenses can add as much as $30,000 to your costs.
Here’s a look at a handful of those expenses and what they will run you:
Property taxes. 
A property tax adjustment at closing ensures the sellers and buyers pay the amount of taxes each rightfully owes for the year. 
Depending on the date of closing, you may need to pay a lump sum on your new home or one you’re selling.
Legal fees. 
The preparation of the required legal documents by a lawyer can cost you at least $500.
Home inspection fee
Most home buyers like to include a successful home inspection as a condition of their offer to purchase. 
A qualified home inspector will cost $500 and up. 
Land transfer tax. 
Each province charges land transfer tax (LTT), which is calculated as a percentage of the home’s purchase price. 
The rate of the LTT varies by province. 
Some cities also charge a municipal LTT, adding an additional cost to consider.