Cottage · 3 bed · $575,000 list
The carrying cost on the listing card is the mortgage, the tax, the condo fee and the heat. This is the rest of it.
Every line says where its number came from.
Not included anywhere on this page: renovations, furniture, the cost of the money you put down, and income tax. Utility rates, service bands and insurance premiums are GTA figures and a metered bill depends on the household, not only on the house.
Per month and per year on the same row. The annual column is exactly twelve times the monthly one, so the two totals reconcile and nothing here is a second measurement.
Principal and interest at the rate and amortization below.
$460,000 borrowed at 4.28% over 25 years, compounded semi-annually as Canadian lenders charge it. Principal is not a cost in the way the other lines are: it buys equity. It is here because it leaves the account every month regardless.
At 20% down or more the mortgage is uninsured, so there is no premium and no sales tax on one.
From the tax figure on the record, otherwise a seeded reference rate on the price.
$2,518 for 2026, from the tax figure stated on the listing, divided by twelve. That is what the current owner pays, as the listing states it. The twelfth is a levelling and not a payment schedule, and next year's amount is not this one: ask the municipality for its own instalment dates and its current rate, because neither is set here and neither has been read out of any by-law.
The province's education rate is inside the figure above, not on top of it. It is listed separately on the municipal bill and we do not receive it separately, so it is named here rather than shown as a second amount you would then add twice.
Estimated from rebuild cost, not from the purchase price.
Priced off rebuild cost, $450,000 to $720,000 at 1,800 square feet, not off the purchase price. An insurer covers the building, and on a large lot the land is most of what you paid. Excludes overland water and sewer backup endorsements, which are optional and are the two exclusions this build flags first. Nothing here counts how often either claim is made or what either endorsement costs. The rebuild band is a GTA figure and is the one input on this page that is not local to the address: rural construction is not reliably cheaper, because the trades travel to it, and we hold no county rebuild cost to say either way.
Metered, so estimated from floor area, heating system and occupancy.
Lighting, appliances, water heating where it is electric, and air conditioning, at $55 a month plus 0.04 per square foot. Excludes heating unless the heating line below is electric. Time-of-use pricing moves this by more than the range if the household is home during the day.
Natural gas for space heating and hot water, at Enbridge's residential rate plus the delivery and carbon charges, scaled by floor area. Levelled across twelve months: the January bill on a 1,800 square foot house runs two to three times this, and July runs well under it. The listing does not state a heating fuel, so natural gas is assumed, from municipal water and sewer in the road, which this build treats as implying a gas main in it too.
Metered, so it scales with occupancy rather than with floor area: $45 plus $12 per bedroom, on 3 bedrooms. Waste goes to the septic system, so only the water half of the bill applies.
The one line that does not scale with the house: a 3,000 square foot home pays what a studio pays. Excludes television and mobile, and excludes the installation charge on a home that has never been connected to the provider you choose.
Set by the corporation. Contractual, and it changes at the AGM.
Freehold, so there are no common expenses. Worth checking anyway: freehold townhouses on a parcel of tied land carry a POTL fee for private roads, snow clearing and visitor parking, and it is registered on title.
Lines this house creates that another house would not.
A monthly set-aside, not a monthly bill. The pump-out is one cheque of roughly $400 to $700 every three years, with an inspection in between. What this line is really insuring against is the tile bed: replacing one runs $15,000 to $30,000 and it is not an insured peril, so a system at the end of its life is a reason to price the house differently rather than a maintenance item.
Get quotes and replace this range with a priceNot a bill and nobody invoices you for it. 1.50% a year of a $450,000 to $720,000 rebuild cost, which works out at 1.53% of the purchase price rather than 1% of it. Taken against price the set-aside would exceed the mortgage payment on a property whose value is mostly land. This is what makes a roof a cheque instead of a loan.
Cash that moves once, from the same engine as the cash-to-close statement, so the land transfer tax here and the land transfer tax there cannot disagree.
Paid before you waive conditions, which means you pay it even on a deal you walk away from. That is the point of it.
Often covered by the lender on insured deals and frequently waived when an automated valuation is accepted. Budget for it, then ask your broker whether it applies.
Only needed when there is no acceptable existing survey and title insurance will not cover the gap. Ask your lawyer before ordering one.
A local GTA move with a reputable company. Book four to six weeks out; end of month and end of June are the worst times to leave it late.
Your lender will not advance funds without a binder in place for the closing date. Arrange it at least two weeks out.
Paid by your lawyer on registration. We work it out on a marginal band running from 0.5% to 2.5% of the purchase price, and both ends of that band are this app's own figures rather than rates we can point you to a source for.
Land Transfer Tax Act (Ontario)
The City of Toronto is the only municipality this app holds a second land transfer tax for, so outside it you are shown the provincial tax alone. Ask your lawyer whether the municipality you are buying in charges anything of its own.
We apply this rebate only to a buyer who tells us neither they nor their spouse has ever owned a home anywhere in the world, and you have not. Whether you qualify is your lawyer's call, not ours.
With 20% or more down we treat the mortgage as uninsured, so there is no premium and no PST on it. The 20% itself is this app's own threshold rather than a figure we can cite.
Title search, registration, mortgage instructions, statement of adjustments and disbursements. Get a flat quote in writing; ask specifically whether disbursements and title insurance are included.
One-time premium that covers title fraud, survey and registration defects. Lenders require a policy; the owner's coverage on the same policy is the part that protects you.
Reimburses the seller for the part of the year they prepaid, here about 182 days. If the seller has not paid, this line runs the other way and credits you.
If your first payment date is later than one payment period after funding, the lender charges interest on the gap. Choosing a first payment date one period after closing avoids it. Ask your lender to set it that way.
Account transfers and any hookup or security deposits for hydro, gas, water and internet.
Excludes the down payment and the deposit, which are equity rather than cost. The full cash-to-close statement adds them back and dates every line.
$17,369 of one-time cash plus twelve months at $4,078. Excludes the down payment, which is equity rather than a cost. This is the figure to hold a purchase against, not the monthly one.
A cost of ownership quoted to the dollar is false precision. These are the inputs that are genuinely uncertain, each with the difference it makes.
+$3,110/yr, taking the total to $4,337/mo
A rate hold runs 90 to 120 days and closings slip. If the hold expires, or the pre-approval is with a lender you do not end up using, you fund at whatever the market is that week. This is the largest single mover in the statement and the one buyers plan for least.
+$2,757/yr, taking the total to $4,307/mo
Down payments shrink between offer and closing: a gift arrives smaller than promised, the closing costs come in higher and the cash goes there instead. Crossing below 20% adds a CMHC premium to the loan as well as interest on the larger balance, so the step is not linear.
-$2,750/yr, taking the total to $3,848/mo
Thirty years is available on an uninsured mortgage, and since December 2024 on insured purchases by first-time buyers and on new builds. It lowers the payment and raises the total interest by more than the monthly saving suggests, so it buys cash flow rather than money.
-$960/yr, taking the total to $3,998/mo
Cancel the service contracts, cut the grass yourself, clear the drive yourself. Worth comparing against the rate line above: on most Ontario purchases a single point on the rate outweighs everything an owner can actually choose not to spend.
+$252/yr, taking the total to $4,099/mo
Ontario assessments have been frozen at 2016 values since 2020. When the province resumes the cycle, the catch-up lands in one step, and the municipality's own annual rate increase is on top of it. This is the one line in the statement you cannot decline.
Estimates, not quotes. Ranges are GTA market bands and the single figure inside one is its midpoint. Where a line can be replaced with a real price, it links to the trades directory, and a quote you receive in writing beats every figure on this page. Back to the listing · Cash to close, dated line by line
Listed by RE/MAX NORTHWEST REALTY LTD..