New construction adds a wrinkle resale does not: GST may apply to the purchase price on a new build in a way it generally does not on a resale home, so a buyer's total closing budget for new construction needs to account for that in addition to the usual legal fees, typically $800 to $1,500.
A condo purchase, new or resale, also adds the cost of reviewing the condominium corporation's reserve fund study and budget with a lawyer, which is a buyer-side cost regardless of who built the building.
Confirming exactly which costs apply to a specific new-construction purchase agreement is worth doing with a lawyer before signing, since developer agreements can structure things differently than a standard resale contract.
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