💰 Closing Costs in Calgary, Alberta: What You Need to Know Before Buying a Home
Thinking about buying a home in Calgary or Airdrie?
Whether you’re a first-time buyer or upgrading to your forever home, it’s important to understand more than just the listing price — you also need to budget for closing costs.
These are the additional expenses involved in finalizing your real estate transaction — and they can add up fast if you’re not prepared.
As your local real estate expert, I’m here to break down everything you need to know about closing costs in Calgary, Alberta, so you can move forward with clarity and confidence.
🛠️ 1. Home Inspection
Estimated Cost: $400–$700 for a house; $200–$400 for a condo
Why It Matters: A professional inspection helps identify hidden issues with the property — from plumbing to roofing — before you finalize your purchase. This is your chance to make an informed decision or negotiate repairs.
⚖️ 2. Legal Fees
Estimated Cost: $1,000–$2,500
Why It Matters: A real estate lawyer handles title searches, contract reviews, registration, and more. Their work ensures the legal transfer of your property is smooth and secure.
💡 Need a trusted legal partner? I can recommend experienced local lawyers who specialize in Calgary real estate.
📜 3. Land Transfer Fees (Alberta-Specific)
Estimated Cost: ~$450 on a $400,000 home
How It Works: Alberta doesn’t have a land transfer tax like some other provinces. Instead, there’s a land title registration fee:
Example:
($400,000 ÷ $5,000) × $5 + $50 = $450
✅ Pro Tip: These fees are calculated based on your property’s purchase price, so they’ll vary depending on the home you buy.
🛡️ 4. Title Insurance
Estimated Cost: $200–$300
Why You Need It: Title insurance protects you against fraud, encroachments, or issues with past ownership. Some lenders require it — and I recommend it for every buyer.
🏷️ 5. Property Appraisal
Estimated Cost: $200–$400
Why It’s Required: Your mortgage lender will likely request an appraisal to confirm the home’s value matches the amount you’re borrowing.
🧾 6. Mortgage Default Insurance (CMHC)
Cost: 2.80%–4.00% of mortgage amount (if your down payment is under 20%)
Important: This cost can often be rolled into your mortgage, but it still affects your monthly payments. Let’s make sure you understand how this impacts your affordability.
🧮 7. Property Tax Adjustments
Estimated Cost: Varies based on possession date
Why It Happens: If the seller has pre-paid property taxes past your possession date, you’ll need to reimburse them for the portion that applies to your ownership.
🔐 8. Home Insurance
Estimated Annual Cost: $1,000–$1,500
Required By: Your lender
Why It Matters: You must have insurance in place before possession day to protect the home — and your investment — from unforeseen damages.
🚛 9. Moving Expenses
Estimated Cost: Varies by distance and method
Whether you’re hiring professional movers or doing it yourself, don’t forget to budget for moving day essentials, including truck rentals, packing supplies, and utility setup.
🏢 10. Other Potential Costs
• Condo Fees – Monthly costs for maintenance, management, and amenities
• Utility Hookups – One-time fees to set up electricity, internet, water, etc.
• GST – Applies to new construction homes only (usually included in price)
💡 Smart Strategies to Reduce Closing Costs
✔️ Negotiate with the Seller – Especially in a buyer’s market, we may be able to include some costs in your offer.
✔️ Get Multiple Quotes – From inspectors to lawyers, shopping around can save hundreds.
✔️ Time Your Closing – End-of-month closings may reduce interest adjustments.
✅ Plan Ahead, Buy with Confidence
Understanding your closing costs is a huge part of buying smart — and that’s exactly what we help our clients do at Tara Molina Real Estate Group.
When you work with us, we’ll connect you with trusted mortgage brokers, lawyers, and service providers, and walk you through every cost you can expect, upfront and stress-free.
👉 Ready to Buy a Home in Calgary or Airdrie?
📲 Book a Buyer Consultation
🔑 Read our Full Homebuyer’s Guide
🧠 Get Pre-Approved with Advanced Mortgage
Let’s make your next move a 𝑝𝑜𝑠𝑖𝑡𝑖𝑣𝑒 one — with no surprise costs and full peace of mind.