I'm considering a Toronto studio priced around C$1,748,000 and building a full acquisition and ownership-cost checklist before deciding whether to proceed. I have transfer tax, legal or notary fees, and registration fees on the list, but I am less clear about ownership restrictions, residency-related tax treatment, annual property charges, capital gains on a later sale, and inheritance planning.
One concern is that the building minutes mention energy-performance work three times but give no firm estimate. What should I ask a licensed local lawyer or tax professional about that potential cost and how it could be charged to an owner?
For anyone who has completed a Canadian transaction, which legitimate cost or liability appeared outside the initial estimate? Please mention whether it was due at closing, charged annually, or arose later because of residency or ownership structure. I'm looking for practical questions to take to local professionals, not personal legal or tax advice.
One concern is that the building minutes mention energy-performance work three times but give no firm estimate. What should I ask a licensed local lawyer or tax professional about that potential cost and how it could be charged to an owner?
For anyone who has completed a Canadian transaction, which legitimate cost or liability appeared outside the initial estimate? Please mention whether it was due at closing, charged annually, or arose later because of residency or ownership structure. I'm looking for practical questions to take to local professionals, not personal legal or tax advice.