What is the land transfer tax when buying in Ottawa?

When you buy a home in Ottawa, you pay Ontario's provincial land transfer tax. Unlike buyers in Toronto, Ottawa buyers do not pay a second municipal land transfer tax. Ontario's tax is calculated on a sliding scale and works out to roughly $10,500 to $11,000 on a $700,000 home. This is one of your larger closing costs, and for a full picture of what you will spend, also understand how real estate agent costs work in Ottawa.

First-time home buyers in Ontario may qualify for a rebate of up to $4,000 on the provincial land transfer tax. Your agent and lawyer can confirm whether you qualify. You should also budget for legal fees, home inspection, title insurance, and mortgage costs. Find a real estate agent in Ottawa who can walk you through your full closing budget.