On a $600,000 Woodstock home with 20% or more down, buyer closing costs come to roughly $13,000 — about 2.2% of the price — and land transfer tax alone is about $8,475 of that.
One local fact worth knowing up front: the extra municipal land transfer tax that makes headlines applies only inside the City of Toronto. In Woodstock, Ingersoll, Tillsonburg, and everywhere else in Oxford County you pay just the one provincial land transfer tax.
The costs a Woodstock buyer should budget for
| Cost | Typical 2026 amount | Notes |
|---|---|---|
| Provincial land transfer tax | ~$8,475 on a $600,000 home | Largest single cost. No municipal LTT in Oxford County. See the bracket math below. |
| Real estate lawyer | $1,100–$2,000 + disbursements | A lawyer is required to close in Ontario; registration and disbursements add extra. |
| Title insurance | $250–$800 (one-time) | Arranged through your lawyer; scales with property value. |
| Home inspection | $300–$1,000 | Optional but strongly recommended, especially on older homes. |
| Appraisal | $300–$600 | Often required by the lender; sometimes waived or lender-paid. |
| PST on mortgage insurance | 8% of the CMHC premium, in cash | Only if you put less than 20% down — see the note below. |
| Adjustments (prepaid tax/utilities) | Varies | You reimburse the seller for anything prepaid past your closing date. |
How Ontario land transfer tax is calculated
Land transfer tax is marginal — each portion of the price is taxed at its own rate:
| Rate | Portion of the purchase price |
|---|---|
| 0.5% | Up to $55,000 |
| 1.0% | $55,000 to $250,000 |
| 1.5% | $250,000 to $400,000 |
| 2.0% | Over $400,000 (up to $2,000,000) |
| 2.5% | Over $2,000,000 (one or two single-family homes) |
The worked example: a $600,000 Woodstock home
Add a lawyer (about $1,800 with disbursements), title insurance (about $500), an inspection (about $500), an appraisal if the lender needs one (about $400), and adjustments and moving, and the all-in total lands near $13,000 — roughly 2.2% of the price. A first-time buyer subtracts the $4,000 provincial refund, dropping the land transfer tax to $4,475 and the total to about $9,000.
- 0.5% on the first $55,000 = $275
- 1.0% on the next $195,000 = $1,950
- 1.5% on the next $150,000 = $2,250
- 2.0% on the final $200,000 = $4,000
- Total land transfer tax = $8,475
The cost most buyers with a smaller down payment forget
If you put less than 20% down, your mortgage must be insured (CMHC or a private insurer). The insurance premium is added to your mortgage — but Ontario charges 8% PST on that premium, and the PST cannot be rolled into the loan. It has to be paid in cash on closing. On a typical insured purchase that is often a four-figure line item, and it surprises buyers every year. Ask your lawyer or mortgage broker for the exact figure before closing day.
TeamBeckett walks every buyer through their specific closing-cost estimate before they write an offer, so there are no surprises at the lawyer’s office.
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