What to weigh at this price
Above $2 million, Ontario's land transfer tax charges 2.5 percent on the portion over that line for a home with one or two single-family residences, on top of the lower brackets, so closing costs deserve a line in the budget early. Rural properties need a water potability test, a septic inspection, a check of the conservation authority's regulated area and a look at the zoning and the Oak Ridges Moraine plan before you fall for the view. Newer estate homes in Brooklin and Taunton North should come with builder drawings, permits for any finished basement or pool and Tarion records. Heritage houses downtown may carry an Ontario Heritage Act designation or sit inside the Werden's Plan district, which limits exterior changes; have your lawyer confirm the status. Lakefront and creek-side lots involve the conservation authority for any future work. At this level an inspection by specialists (roof, HVAC, pool, well) is money well spent.