Out-of-pocket closing day costs to buy a new home in Barrie are lower than the provincial average

Oakville, Richmond Hill Among the Costliest

When buying a house in Barrie, you’d need to shell out an average of $31,472 in closing day costs. While that seems high, it’s far better than if you were moving to Oakville.

The real estate website Zoocasa has tallied up the closing day costs of buying a home, saying Barrie’s is well below the provincial average. Before the keys to a new home can be handed over, there are still a few expenses a home buyer would need to pay upfront. These include down payment, mortgage loan insurance, and land transfer tax.

At just over $237,500, the City of Oakville has the highest closing day cost, followed by Richmond Hill, Vaugahn, Toronto, and Markham rounding out the top five. The provincial average is $46,706.

graph courtesy Zoocasa