What is land transfer tax?
"When you acquire a property (and the land it rests on), you must pay a tax to the government after the transaction closes. The amount paid depends on the value of your property, but almost always forms the largest portion your closing costs. The calculator shows you how much you can expect to pay and why. If you are a first-time home buyer, we show you how much you can expect to save in government-sponsored rebates, reducing the impact of your land transfer fees."
Ontario offers a land transfer tax refund of up to $4,000 for first-time home buyers.