Eligible first-time home buyers can receive a land transfer tax rebate, with a Municipal Land Transfer Tax rebate up to a maximum amount of $4,475, and another rebate on their Provincial Land Transfer Tax up to $4,000.
Oftentimes you can actually reduce your overall closing costs by almost 50% when you add it all up. Don’t hesitate to look for opportunities like this to optimize your investment! Remember, these programs were designed for new buyers like you to help you invest in Toronto real estate with little starting collateral. Feel free to reach out to us for more information about closing costs and for a more detailed breakdown of the numbers.