These are the cheapest and most-heavily taxed Ontario cities to buy a home Ontario RealEstate
can be a stressful experience, especially when you factor in the closing costs you'll have to manage once you've reached the end of your property-buying journey.land transfer taxProspective buyers in Toronto must pay both the Ontario provincial LTT, and municipal LTT, which is determined based on the total purchase price of a property.
Although first-time buyers are eligible for rebates up to $4,000, trying to find a home in some of Ontario's hottest real estate markets at an affordable price can be made even more challenging with the tax.analyzed 35 markets across Ontario to determine which cities prospective buyers would pay the most and least in LTT, and how much more expensive it would be for repeat buyers to purchase a new property without the added cushion of a rebate.
Closer to the GTA, Ajax is the lowest-priced city over the $1 million mark, where buyers of a home at the average price of $1,002,020 can expect to pay $12,125 in LTT.It also comes as no suprise that the most expensive cities for both first-time and repeat buyers in terms of LTT are Toronto, Oakville, Caledon, Markham, and Richmond Hill.
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