How Much Money Do I Need to Buy a Home in Toronto?

In this detailed video, Larissa Fitzsimons, a dedicated Toronto Real Estate Agent with Royal LePage Signature Realty, shares how much money you need to buy a one million dollar home in Toronto, factoring in closing costs, down payment, and land transfer tax.

Whether you're a first-time buyer or considering an investment, this video will provide valuable insights into what it really costs to buy a property in Toronto's competitive market.

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Video Chapters:
00:00 Introduction and Overview of $1 Million Home Costs
01:03 20% Down Payment Requirement Explained
01:50 Understanding Toronto's Land Transfer Taxes
02:11 Impact of Down Payment on Mortgage Payments
03:19 Calculating the $200,000 Down Payment
04:01 Detailed Land Transfer Tax Calculations
05:14 Rebates for First-Time Buyers and Closing Costs Overview
06:03 Total Purchase Costs for a $1 Million Property
07:57 Call for Viewer Feedback and Future Video Topics

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I'm Larissa, a Diamond Award-winning Realtor with Royal LePage Signature Realty, specializing in Toronto's downtown market. I love assisting first-time buyers, and have been ranked in the top 3% of Royal LePage Agents two years in a row. Outside work, I enjoy exploring new restaurants, staying active, and volunteering with DIBS Rescue, where I foster dogs with the help of my own rescue, Arya. If you're looking for a home (or a dog!), let's connect!

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The views presented here are exclusively those of Larissa Fitzsimons and do not represent the positions of Royal LePage or the TRREB. They should not be interpreted as guidance or a foundation for an agency relationship. It's recommended to seek advice from a professional advisor before making decisions based on the content of these videos. This message is not meant to provoke or lead to the violation of any current agency agreements. Additionally, this should not be considered as financial advice.