Buying a home in Toronto comes with a tax most Canadians never think about until closing day: land transfer tax — and Toronto buyers pay it twice. There is the Ontario provincial land transfer tax, and on top of that, the City of Toronto charges its own municipal land transfer tax. On a $500K purchase, those two layers add up to thousands of dollars in extra closing costs, on top of the purchase price itself.

Alberta is different. Alberta has no land transfer tax at all — provincial or municipal — so an Edmonton buyer pays $0 in land transfer tax on that same $500K purchase. That is money that stays in your pocket, or goes toward your down payment, your furnishing budget, or your first year in your new home instead of to the tax collector.

For buyers moving to Edmonton from Toronto, that difference is real money. The thousands of dollars you would hand over in land transfer taxes in Toronto can instead cover moving costs and legal fees, or simply stay in your savings — one more reason so many Ontario buyers are looking west to Alberta.

Ready to see what your money buys in Edmonton? Start your home search at bridgerealtygroup.ca and register for instant access to new listings, or call Travis Bannert, Realtor® | Bridge Realty Group, Maxwell Progressive Realty, at 780-720-8240 for help planning your move.