How much cash do you actually need before closing?
The deposit is only the first part. Before you get the keys you also need closing cash — land transfer tax, legal fees, development charges — plus a reserve for the things nobody can price in advance. This tool adds all three buckets together, so the number you plan around is the full cash needed, not just the deposit.
Deposits are not the full cash needed.
On a typical pre-construction purchase the cash due at closing is thousands — often tens of thousands — on top of the deposit. In the worked example below, the deposit is $100,000 and the full cash needed is $125,079.80: $25,079.80 more than the deposit alone.
Freehold homes have no interim occupancy — occupancy is the final closing.
Enter a purchase price above to see your full cash needed — or load the worked example to see a real project's numbers.
Want these numbers checked against a real project?
Send me the project name — I'll verify the deposit, closing costs and HST basis against the builder's price list.
WhatsApp SamWorked example: North Gate Trails, 30′ detached
A real, verified project — not a hypothetical. North Gate Trails by Lakeview Homes, North Ajax. 30′ detached from $799,990 net of the HST rebate (builder price list, Nov 3, 2026). Deposit $100,000 staged to 150 days, cheques to Estates of Northgate Inc. Closing costs capped at $8,500 + HST. Tentative closings from October 2027. First-time buyer, so the $4,000 land transfer tax refund applies. See the North Gate Trails listing.
| Deposit — staged to 150 days | $100,000.00 |
| Land transfer tax (Ontario, on $799,990) | $12,474.80 |
| First-time buyer LTT refund | −$4,000.00 |
| Land transfer tax, net | $8,474.80 |
| Legal + disbursements (estimate) | $2,000.00 |
| Development charges / levies (builder cap $8,500 + HST) | $9,605.00 |
| Interim occupancy | $0.00 — freehold detached, no interim occupancy |
| HST — additional rebate | $0.00 — price already net of the rebate |
| Closing cash (due at final closing) | $20,079.80 |
| Reserve (example buffer — your choice, not a rule) | $5,000.00 |
| Total cash needed before closing | $125,079.80 |
HST check: the price is already net of the HST rebate, so no further rebate applies (rebate $0.00 — never calculate a rebate from a price already net of it). The $5,000 reserve is an example buffer, not a rule — set your own in the calculator above. Figures checked November 6, 2026; the builder's terms can change — confirm against the agreement before signing.
What counts as cash needed
1. The deposit. Paid in instalments during construction, held in trust, and credited toward the purchase price at closing. It is the largest single cash item — and the only one most buyers plan for.
2. Closing cash. Due at final closing, on top of the deposit: Ontario land transfer tax (less the first-time buyer refund of up to $4,000, where eligible), legal fees and disbursements, development charges and levies (capped by some builders, uncapped by others), and HST where the price is not already net of the rebate. Interim-occupancy fees apply to condos between occupancy and final closing; freehold homes have no interim occupancy.
3. A reserve. Appraisal shortfalls, moving costs, and the first months of ownership do not fit in a formula. Hold a buffer you choose — the tool defaults to $5,000 as an example only.
The HST basis matters. Ontario's enhanced HST relief is three separate streams, and their maxima do not add together: the all-buyer enhanced relief (up to $130,000 combined, agreements April 1, 2026 – March 31, 2027), the federal first-time buyer GST rebate (up to $50,000), and the Ontario first-time buyer provincial rebate (up to $80,000). A price already net of the rebate has no further rebate to claim. A price with HST on top can carry a large HST bill at closing, partly offset by the rebate. Confirm the basis with the builder — the calculator warns you when it is not stated.
Assumptions and limits
- Land transfer tax at the 2026 Ontario marginal rates (0.5% to $55,000; 1% to $250,000; 1.5% to $400,000; 2% to $2,000,000; 2.5% above). First-time buyer refund up to $4,000.
- Legal + disbursements default $2,000 — an estimate, not a quote. Your lawyer's fee may differ.
- Development charges and levies are builder- and project-specific. Where the builder has not published a figure, this tool shows “not published” and excludes it from the total rather than guessing zero.
- Where the price basis is not stated, the tool assumes HST is charged on top of the price and says so — confirm with the builder.
- CMHC mortgage insurance (where the down payment is under 20%) is usually added to the mortgage, not paid in cash at closing, so it is not in this total.
- This is an educational estimate, not mortgage qualification and not legal or tax advice. Confirm every figure with your lawyer and mortgage professional before you sign. Source: Ontario — calculating land transfer tax Source: Ontario — LTT refunds for first-time homebuyers
Keep reading
How staged deposits work, standard vs accelerated, and how to plan the cash.
The full closing-cost checklist, with real builder caps and worked examples.
What you pay between occupancy and title transfer, and what changes at closing.
Build a dated, dollar-by-dollar deposit calendar from the builder's milestones.
Figures checked November 6, 2026. Author: Findle Global Editorial Team. Prices, incentives and closing dates change — verify against the builder's price list before an offer.