Buying your first home in Mississauga? It’s one of the most exciting milestones in life, but also one of the most financially complicated. Many first-time buyers are surprised to learn that the down payment isn’t the only major cost involved.

At MJ Law Services, we guide first-time buyers across Mississauga, Brampton, and the GTA through every step of the legal real estate process, including the closing costs that often catch people off guard.

If you’ve been searching for:

• Real estate lawyer Mississauga
• Real estate lawyer near me for closing
• First-time homebuyer costs Ontario
• Real estate lawyer free consultation
• Best real estate lawyer Mississauga

This guide will help you plan smarter and avoid last-minute surprises.

—

What Are “Closing Costs”?

Closing costs are all the fees, taxes, and services you need to pay, in addition to your down payment, to officially take ownership of your new home. These expenses typically range from 1.5% to 4% of the purchase price.

Some of them are obvious. Others? Not so much.

Let’s walk through the hidden closing costs you should plan for.

—

1. Land Transfer Tax (Including the “Double” for Mississauga Buyers)

Every Ontario home purchase comes with a land transfer tax. But if you’re buying in Mississauga, Toronto, or Brampton, you may also pay an additional municipal land transfer tax.

💡 First-time buyers may be eligible for a provincial rebate — up to $4,000 in Ontario, but it might not cover everything. We’ll help you apply for that during closing.

—

2. Title Insurance

Title insurance protects you (and your lender) from unknown title issues, like past ownership claims, undisclosed liens, or boundary disputes. It’s a one-time cost, typically between $250–$500, but it’s not optional with most mortgage lenders.

✅ We include title insurance setup as part of our flat-rate real estate legal services at MJ Law.

—

3. Legal Fees & Disbursements

Many buyers assume legal fees are fixed, but they vary based on your lawyer, your property type, and the complexity of your transaction.

At MJ Law, we offer flat-rate pricing for residential real estate closings, so you know exactly what you’ll pay. Disbursements (extra costs we pay on your behalf) may include:

• Title search fees
• Couriers
• Registration of the deed and mortgage
• Bank fees for handling certified funds

—

4. Prepaid Property Taxes, Utilities & Condo Fees

If the seller has prepaid property taxes, condo fees, or utility charges beyond your closing date, you’ll be required to reimburse them, a common surprise for many buyers.

These adjustments are calculated just before closing and added to your statement of adjustments. We’ll review this line by line with you to avoid confusion.

—

5. Home Insurance (Before Closing!)

Most lenders require proof of home insurance before funds are released. That means you’ll need to set up coverage and pay your premium before you even get your keys.

💡 TIP: If you’re buying a condo, make sure you understand what’s covered by the building’s insurance, and what’s your responsibility.

—

6. HST on New Builds

Buying a new construction home or condo in Mississauga? HST is included in the price, but only if you’re planning to live there.

If you’re buying it as an investment, or if the builder’s agreement passes the HST rebate to the builder instead of you, you could owe thousands at closing. Let us review your Agreement of Purchase and Sale to clarify this upfront.

—

7. Moving & Utility Hookups

Not exactly a legal cost, but it’s part of your closing budget. Hooking up hydro, internet, water, and gas may come with deposits or connection fees. Moving costs also vary by season and demand.

—

8. Real Estate Lawyer Services in Mississauga

When you choose MJ Law Services, you’re getting more than just paperwork.

We offer:

✅ Flat-rate residential closing packages
✅ Full review of your agreement of purchase and sale
✅ Title insurance coordination
✅ Statement of adjustments walkthrough
✅ Land transfer tax rebate applications
✅ Quick response times and personalized support

Whether you’re buying in Mississauga, Brampton, Milton, or Toronto, we make sure your transaction is smooth, and your wallet is prepared.

—

Book a Free Real Estate Consultation Today

If you’re a first-time buyer in Mississauga or the GTA, don’t let hidden closing costs throw off your budget. Let us walk you through every dollar and every step.

Serving Mississauga, Brampton, Toronto, Milton & Beyond
Learn more: https://www.mjlaws.ca
Call now: +1-647-660-9666

MJ Law – Enabling Transactions. Empowering First-Time Buyers.