The Move-Up Money Map

Moving up means running two transactions at once.

Here is every cost to plan for, in one place.

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The Move-Up Money Map — Free 2026 Toronto Sell-and-Buy Cost Checklist

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A. Selling your current home

Real estate commission (5% + 13% HST = about 5.65% of sale price)
Legal fees (~$1,500–2,600 + HST)
Mortgage discharge fee or break penalty (ask your lender for an exact quote)
Prepaid property-tax / utility adjustments credited to the buyer
Staging, photography, pre-list prep (optional, scoped to the home)
Capital gains tax — usually $0 on a principal residence

B. Buying your next home

Land transfer tax — paid in cash at closing (see table below)
Down payment beyond your existing equity (20%+ on homes $1.5M and over)
Legal fees (~$2,000–3,000) + title insurance
Bridge financing interest, if you close the purchase before your sale funds
Adjustments for prepaid property tax / utilities

C. 2026 Toronto land transfer tax at a glance

Resident, not first-time; Ontario + Toronto combined.

Purchase price	Combined land transfer tax
$1.5M	~$52,950
$2.0M	~$72,950
$3.0M	~$122,950
$3.5M	~$157,450
$4.0M	~$191,950
$5.0M	~$271,450

In Toronto you pay land transfer tax twice (provincial + municipal). The April 1, 2026 luxury rates apply only to the portion above $3M.

D. Buy first or sell first?

Sell first — you know your exact proceeds, no carrying two homes; you may need interim housing or a rent-back.

Buy first — certainty of a home and time to move; you take on bridge interest and double carrying costs until your sale closes.

The cheapest outcome is usually aligning both closings to the same day. We help you set that up.

E. Five numbers to know before you list

Your home's likely sale price
Your remaining mortgage + any break penalty
Your net proceeds (what actually rolls into the next purchase)
Land transfer tax on your target price
Your true cash-to-close

Want these filled in for your move?

Run them instantly with our 2026 cost calculator, then book a 20-minute call and we will build your plan. → Open the calculator · Book a consultation

General information only, current to June 2026; not legal, tax, or financial advice. Confirm figures with your lawyer, lender, and accountant. Jethro Seymour, Broker of Record, Royal LePage Terrequity Seymour Real Estate.

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The Seymour Team
Royal LePage Terrequity
Seymour Real Estate

Address

293 Eglinton Ave E
Toronto, ON M4P 1L3

Phone

416-712-0767

Contact the Seymour Team

Jethro Seymour, one of the Top Toronto Real Estate agents, is a midtown Toronto residential specialist with over 20 years of sales experience in real estate, marketing, construction and publishing. He has helped many families, friends and investors find homes in Toronto’s great neighbourhoods and has extensive knowledge of local markets, new home construction, resale home sales, and the condo market. Living in midtown Toronto, Jethro previews many of the homes that come to market for his clients and inventory knowledge. Jethro specializes in midtown, Davisville Village and Leaside neighbourhoods. For more information, call Jethro Seymour, Broker.

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