What Are The Costs To Sell My Home?

Selling a Toronto home involves expenses such as repairs, staging, legal fees, realtor commissions, moving costs, and possible mortgage penalties.

When preparing to sell in Toronto, it’s essential to understand the financial side of the process. Costs can vary depending on property type, location, and strategy, but sellers should anticipate several everyday expenses:

Typical Seller Costs In Toronto

• Repairs & Updates: Cosmetic improvements, such as fresh paint ($2,000–$5,000) or landscaping ($500–$10,000), can significantly enhance first impressions. Larger upgrades depend on the size and condition of the home.
• Pre-Listing Home Inspection: Some sellers choose to provide an inspection report, typically costing $700–$800, to build buyer confidence.
• Legal Fees: Real estate lawyers typically charge between $1,000 and $3,000 for handling the sale, depending on the complexity of the property.
• Realtor Commissions: In Toronto, commissions are often 5% of the final sale price, split between the listing team and buyer’s agent, plus HST. For example, on a $1.5 million detached home, that’s $65,000 plus HST.
• Mortgage Discharge Penalties: Sellers with fixed-rate mortgages may face penalties for early discharge. Always confirm details with your lender.
• Moving Costs: Vary by distance and volume, typically ranging from several hundred to a few thousand dollars.
• Capital Gains Tax: Not applicable to a principal residence, but investment or secondary properties may trigger tax. Consult with an accountant.

Why This Matters

Toronto’s average detached home sells for over $1.5M, while downtown condos average about $700,000 (TRREB, 2025). With transactions at this scale, understanding your net proceeds after costs is critical. The Fox Marin Real Estate Team has guided over 1,000 successful sales and helps sellers plan strategically so no financial surprises arise on closing day.

Key takeaway: Selling in Toronto comes with predictable costs, but planning with an experienced real estate team ensures you maximize returns and avoid surprises.

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