ReverseMortgageMississauga.ca answers a question many downsizers ask: is there a land transfer tax in Mississauga, and what does the whole move cost? The short version is that only Ontario’s tax applies, and the commission on the house you sell costs far more.
Most Mississauga homeowners thinking about a smaller home want to know what the move would take out of their savings. The tax is one part. Commission, HST, legal fees and movers are the rest.
Is there a land transfer tax in Mississauga?
Yes, but only Ontario’s. Mississauga has no municipal land transfer tax of its own. Toronto is the only Ontario city that charges one, and the province said in 2018 it would not give that power to other cities. A buyer in Mississauga pays the provincial tax once, on the purchase price.
The provincial tax is set by Ontario (Government of Ontario), and the 2018 decision was reported by CTV News (CTV News, 2018).
How much is the land transfer tax on a Mississauga condo or townhouse?
On the average Mississauga condo apartment sold in September 2026, $500,192, Ontario’s land transfer tax is about $6,479. On the average condo townhouse, $717,408, it is about $10,823. The tax is charged in brackets, so each slice of the price is taxed at its own rate.
| Part of the price | Tax rate |
|---|---|
| Up to $55,000 | 0.5% |
| $55,000 to $250,000 | 1.0% |
| $250,000 to $400,000 | 1.5% |
| $400,000 to $2,000,000 | 2.0% |
| Over $2,000,000 | 2.5% |
Here is the tax on real Mississauga prices from September 2026 (TRREB Market Watch, September 2026), worked out from the Ontario brackets above.
| Mississauga home, September 2026 | Price | Ontario land transfer tax |
|---|---|---|
| Condo apartment, median | $432,500 | $5,125 |
| Condo apartment, average | $500,192 | $6,479 |
| Condo townhouse, median | $686,000 | $10,195 |
| Condo townhouse, average | $717,408 | $10,823 |
| All home types, median | $868,000 | $13,835 |
The first-time buyer refund rarely helps a downsizer
Ontario refunds part of the tax for first-time buyers only. Most homeowners downsizing at 65 or older have owned a home before, so they pay the full amount.
What does downsizing in Mississauga cost in total?
In this example, selling an average Mississauga detached house and buying an average condo apartment costs about $68,000 to $83,000 before movers. Most of that is the real estate commission and the HST on it. Ontario’s land transfer tax and legal fees on both the sale and the purchase make up the rest.
An example with September 2026 prices
For example, an illustrative couple sells a detached house for $1,285,467, the Mississauga average for detached homes in September 2026. They buy a condo apartment for $500,192, the average condo apartment price that month (TRREB Market Watch, September 2026).
| Cost | At 4% commission | At 5% commission |
|---|---|---|
| Commission on $1,285,467 | $51,419 | $64,273 |
| 13% HST on the commission | $6,684 | $8,356 |
| Land transfer tax on $500,192 | $6,479 | $6,479 |
| Legal fees, sale and purchase | About $3,600 | About $3,600 |
| Total before movers | About $68,182 | About $82,708 |
Full-service commissions are often quoted at 4% to 5% plus 13% HST. Commission isn’t fixed in Ontario, and every fee can be negotiated (RECO). Legal fees are roughly $1,800 for each side. Movers, cleaning, repairs before listing and condo fees come on top.
How does downsizing compare with staying in your home?
Downsizing and staying in your home do different jobs, so neither one is cheaper for everyone. Selling turns most of the home’s value into cash but costs tens of thousands of dollars up front. A reverse mortgage keeps you in your home and costs about $2,000 to $3,500 to set up, and then interest adds to the balance.
For example, $150,000 borrowed at advertised rates of 6.23% to 6.94% (advertised 5-year fixed rates across the four lenders, checked September 17, 2026) grows to about $203,900 to $211,000 after five years. That is about $53,900 to $61,000 of interest over five years. In the example above, the move itself costs about $68,000 to $83,000, money spent rather than money you get.
Staying is not certain to shrink your equity. Interest adds to what is owed, but a rising home value can offset some or all of it; on average, Canadian borrowers end up keeping about half their equity. The full list of set-up costs is in the guide to what a reverse mortgage costs on a Mississauga home.
When each one fits
Selling fits when the house no longer suits your life: stairs that are hard to manage, more space than you use, or a wish to live closer to family. Staying put with a reverse mortgage makes sense when you need money for things like care at home or accessibility renovations.
A reverse mortgage can also help pay for the smaller home, as long as it is your main home and everyone on title is 55 or older. All four Canadian reverse mortgage lenders accept condos, though each one looks at the building as well as the unit (reverse mortgages on Mississauga condos).
Before you choose between selling and staying, Richard Hopkins, Mortgage Broker, can put your goals first and compare every reverse mortgage lender in Canada for your home. Everything arrives in writing, easy to forward to your family. The Mississauga reverse mortgage calculator shows a first number for staying.
The bottom line
Mississauga has no land transfer tax of its own, so a downsizer pays only Ontario's, about $6,479 on the average condo apartment sold in September 2026. In this example, selling an average detached house and buying an average condo costs about $68,000 to $83,000 before movers. A reverse mortgage costs far less to set up. Interest adds to the balance, though, so the right choice depends on what you want from the next ten years.
Ask for a free estimate on your Mississauga home, with nothing to pay and nobody pushing you.