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Home sale calculator

Last updated: August 15, 2022

Want to know how much you’ll get when you sell your home? Use our free home sales proceed calculator to get an estimate.

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5-Year Fixed: 4.37%
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What are home sale proceeds?

Also known as estimated net sale proceeds, this is the amount you will get once you sell your home based on your estimated sale price, outstanding mortgage balance, real estate taxes and fees.

How do you calculate home proceeds?

To calculate your home proceeds, you will need to add up the costs of selling your home, which includes your remaining mortgage, taxes, legal fees, commissions and more. You will then subtract the total cost of selling your home from the final sale price of your property and you will get your home proceeds.

Why is it important to know what the home sales proceeds would be?

It’s important to know what it will mean for you when you make the big decision to sell your house. Even if you don’t intend to sell and are just curious, having an estimate of your home sales proceeds can help you make a more informed decision. Our free home sales proceeds calculator can give you an estimate of how much cash you will get when you sell your home.

What factors are considered when determining home sales proceeds?

Estimated home sale price

Your estimated home sale price will give you an idea of how much your home is worth. You can use our free home value estimate calculator to get a better idea.

Remaining mortgage

The amount of money that is still owed on your home will be deducted from the estimated home sale price. This will provide a general idea of your home sale proceeds but does not include fees and taxes associated with selling your home.


Having a professional home inspection done before selling your home will alert you of any major issues with your home. An inspection can help you avoid sale price reductions when the buyer completes their inspection. The cost should be factored in when considering the other costs to sell your home.

Home repairs

If you find that there are some issues with your home after an inspection, you might want to make sure these issues are addressed before listing your home for sale. If not, you could risk getting a lower price for your home or have buyers walk away. The cost for repairs will depend on the job and will be deducted from your home sale proceeds.


The costs for staging your home and getting it ready for selling should also be factored into the other costs to sell your home. Staging your home and making it more presentable will increase the likelihood of selling your home and at a higher price.

Closing costs

Closing costs are paid according to the terms of the purchase contract made between buyer and seller. Although buyers are typically responsible for most closing costs, it can sometimes involve the seller as well. Closing costs can include loan processing fees, lawyer fees, transfer taxes, title insurance costs, inspection fees and more. As the seller, you will be responsible for any realtor fees and commissions. Any of these expenses that you cover would be subtracted from the net proceeds when you sell your home.

What is a real estate commission?

This is the fee that you must pay your real estate agent for their services as they will be responsible for marketing, staging and selling your home for you. In Canada, it is usually the seller who is responsible for covering the commission for both the buyers and seller’s agents, but this depends on what is agreed upon between the buyer and seller.

Do I have to pay tax on real estate commissions?

Yes, real estate commissions are subject to the sales tax. In Canada, the sales tax is different depending on which province you live in. Ontario’s sales tax is 13%, Alberta and Saskatchewan is 10%, and British Columbia is 5%.

Do I have to pay capital gains tax when I sell my home?

If the property you are selling is your primary residence, meaning you live in the home, the profit that you earn on the sale of your home is exempt from capital gains tax. A principal residence can be a house, condo, cottage or other property that you own and occupy. There might be some limitations so it’s best to speak with your advisor for more information.

Are there any mortgage penalties when I sell my home?

Depending on the terms of your mortgage, there could be penalty costs when you sell your home. A mortgage is a binding contract between you and your lender to ensure you pay the principal and interest costs for the term of your mortgage. If you end your mortgage early, there will be a penalty costs, which can be either 3 months worth of interest or an interest rate differential.