Selling costs
What Does It Cost to Sell a Home in Richmond Hill?
Plan on roughly 4% to 6% of your sale price in total selling costs. The big one is real estate commission (typically 3.5%–5%, split between the two agents and always negotiable), plus HST, legal fees of about $1,200–$2,000, and any staging or moving costs. What you keep after all of that is your net proceeds — start with a free valuation to estimate yours.
The main costs of selling a home in Richmond Hill
Selling a home is not free, but most of the costs are predictable. Once you know the line items, you can estimate your net proceeds with real confidence. Here is where the money actually goes when you sell in Richmond Hill.
Real estate commission (your biggest cost)
Commission is the largest selling expense for almost every seller. In the GTA the total typically lands between 3.5% and 5% of the sale price. That total is usually split into two parts: the listing side (your agent) and the cooperating side (the agent who brings the buyer).
Two things matter here. First, commission is negotiable — there is no legal rate. Second, HST of 13% applies on top of the commission. So a 4% commission on a home really costs 4% plus HST. A trusted local Richmond Hill agent should explain their rate, what it covers, and where there is room to move before you sign anything.
Legal and closing fees
You need a real estate lawyer to close the sale. For a straightforward Richmond Hill home, legal fees plus disbursements usually run about $1,200 to $2,000. That covers title work, preparing closing documents, discharging your mortgage on title, and handling the funds. Ask for a flat quote up front so there are no surprises.
Staging, prep, and repairs
Getting a home ready to sell often pays for itself, but it is still a cost. Depending on the home and how much you do yourself, budget anywhere from a few hundred dollars for cleaning and touch-ups to several thousand for professional staging, painting, and minor repairs. Your agent can tell you which improvements actually move the price and which ones to skip. Timing matters too — see the best time to sell in Richmond Hill.
Mortgage discharge and penalties
If you are paying off your mortgage, expect a small lender discharge fee (often around $200–$400). The bigger risk is a prepayment penalty if you break a fixed term early. On a fixed-rate mortgage this can be thousands of dollars. Call your lender for an exact payout figure before you commit to a closing date.
Moving and other costs
Do not forget the everyday costs: movers, packing, possible short-term storage, and utility transfers. Local moves in the GTA often run a few hundred to a couple of thousand dollars depending on the size of your home and how much you do yourself.
Sample cost breakdown on a $1,500,000 sale
Here is a realistic example for a detached Richmond Hill home selling at $1,500,000 CAD. Your numbers will differ — this is an illustration to show how the pieces add up to your net proceeds.
| Line item | Estimated cost (CAD) | Notes |
|---|---|---|
| Real estate commission (~4%) | ~$60,000 | Split listing & cooperating side; negotiable |
| HST on commission (13%) | ~$7,800 | Applied to the commission, not the sale price |
| Legal & closing fees | ~$1,200 – $2,000 | Lawyer, title, disbursements |
| Staging & prep | ~$1,000 – $5,000 | Varies widely by home and scope |
| Mortgage discharge fee | ~$200 – $400 | Prepayment penalty extra if breaking a term |
| Moving costs | ~$500 – $2,500 | Local GTA move, size-dependent |
| Estimated total selling costs | ~$70,000 – $78,000 | Roughly 4.5%–5% of sale price |
So on a $1,500,000 sale, total costs typically land in the $70,000–$78,000 range. To find your net proceeds, take the sale price, subtract these costs, then subtract your remaining mortgage balance. What is left is what you walk away with.
How to estimate your net proceeds
The cleanest way to plan is simple math: Sale price − selling costs − mortgage payoff = net proceeds. Get an accurate sale-price estimate first, then plug in the costs above. When you are ready to move forward, our sell your home in Richmond Hill page walks through the full process step by step, and a free home valuation gives you the sale-price number to start from. Questions on costs? Call (416) 569-1288 for a straight answer.
Thinking of making a move in Richmond Hill?
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Cost to sell in Richmond Hill: FAQs
What is the average commission to sell a home in Richmond Hill?
Total real estate commission in the Greater Toronto Area typically runs about 3.5% to 5% of the sale price, split between the listing agent and the cooperating (buyer's) agent. It is not fixed by law — commission is always negotiable, and the exact rate depends on the agent, the property, and the level of service. HST applies on top of the commission.
Do I pay HST when I sell my house?
You generally do not pay HST on the sale price of a used residential home. You do pay 13% HST on the real estate commission and on some professional services. Ask your agent and lawyer to confirm what applies to your situation.
What are net proceeds?
Net proceeds are what actually lands in your pocket after the sale. Start with your sale price, then subtract your remaining mortgage balance, commission plus HST, legal fees, and any other selling costs. The number left over is your net — the figure that matters most when you are planning your next move.
Can I negotiate the real estate commission?
Yes. Commission is negotiable in Ontario. Some agents offer tiered rates or reduced cooperating commissions. Just be careful — cutting the buyer-agent portion too far can reduce how many agents show your home. A trusted local agent will walk you through the trade-offs honestly.
What if I break my mortgage to sell?
If you sell before your mortgage term ends, your lender may charge a prepayment penalty. On a fixed-rate mortgage this can be significant — often the greater of three months' interest or an interest rate differential (IRD) calculation. Call your lender for an exact payout figure before you list.
Thinking of making a move in Richmond Hill?
Get a free, no-obligation home valuation or talk to a trusted local agent. No pressure, no spam — just straight answers about your options.