Closing Costs for Condos vs Houses

Whether you buy a condo or a house in Ontario, your biggest closing cost is the same: land transfer tax. But around that core, the two property types diverge in small but real ways — condos add a status certificate, houses sometimes need a survey, and condo fees change your monthly math. Here's a clear, side-by-side look at closing costs for condos vs houses.

Key takeaways

• Land transfer tax and legal fees are essentially the same for condos and houses at a given price.
• Condos add a status certificate review (~$100) but rarely need a survey.
• Houses may need a property survey ($1,000–$2,000+) and have no condo fees.
• Condo monthly maintenance fees aren't a closing cost but heavily affect affordability.
• HOMEH gives eligible buyers the industry's highest Cashback Rebate. Sellers list for 1%, or free when they also buy with HOMEH within 6 months, or $395 + HST with a Mere Posting.

The costs that are the same

Most closing costs don't care whether you're buying a condo or a house. At the same purchase price, you'll pay essentially the same on the big-ticket items:

• Land transfer tax — based on price, not property type (and doubled in Toronto). See Ontario land transfer tax and the Toronto municipal land transfer tax.
• Real estate lawyer — $1,100–$2,500 either way.
• Title insurance — roughly $250–$500.
• Home inspection and appraisal — $300–$600 each.

For the full master list, start with closing costs in Ontario explained.

The reason these costs match is that they're tied to either the purchase price or to fixed professional work, not to the kind of dwelling. A lawyer does roughly the same amount of work to close a $700,000 condo as a $700,000 detached home: reviewing the agreement, searching title, registering the transfer, and exchanging funds. Title insurance is priced on value and risk rather than property type, and land transfer tax is calculated purely on the price using Ontario's marginal brackets. So if you're comparing a condo and a house at the same price point, don't expect the core closing bill to swing much — the differences live at the edges.

Where condos cost differently

Condos add one closing cost houses don't have: a status certificate. This is the package of documents — the reserve fund balance, budget, rules and any special assessments — that your lawyer reviews to confirm the corporation is financially healthy. It typically costs around $100. Learn why it matters in our guide to the condo buying process.

Reviewing the status certificate is one of the most valuable things your lawyer does on a condo purchase. A weak reserve fund, a looming special assessment, or rules that restrict pets or rentals can all change whether the unit is right for you — and they only show up in these documents. Budgeting the small fee is easy; skipping the review is where buyers get hurt.

The bigger condo number is monthly

Condo maintenance fees aren't a closing cost, but they're a major ongoing expense that lenders factor into your affordability. A low purchase price with high monthly fees can cost more over time than a pricier home with none.

Where houses cost differently

Houses (and freehold townhomes) can carry a cost condos don't: a property survey. If an up-to-date survey isn't available, a lender or title insurer may require one, which can run $1,000–$2,000 or more. In practice, title insurance often removes the need for a new survey — but not always. Houses also have no condo fees, putting more of the budget into the mortgage itself.

There's also a maintenance angle that doesn't appear on the closing statement but matters from day one. A house owner is responsible for the roof, furnace, windows and yard — costs a condo owner shares through monthly fees. Neither is automatically cheaper; it depends on the age and condition of the property. The point is that the closing-cost comparison is only part of the picture, and the ongoing cost of ownership often tips the decision more than the few hundred dollars of difference at closing.

Ask about the survey early

Find out whether a current survey exists before you firm up. If one is needed and none exists, it's a four-figure surprise you'll want in your budget — not a closing-day shock.

Side-by-side comparison

How HOMEH helps either way

Condo or house, the land transfer tax line is fixed by the government — but the commission side isn't.

Offset your closing costs with HOMEH

HOMEH gives eligible buyers the industry's highest Cashback Rebate, which can offset your closing costs many times over. Sellers list for 1%, or free when they also buy with HOMEH within 6 months, or $395 + HST with a Mere Posting. Estimate yours with the cashback calculator and compare the exact numbers with the closing cost calculator.