When you buy a home, you will be asked for a down payment, usually between 5 and 25% of the total price of the property. You might also have a number of other fees and expenses to pay.
Some of the most common expenses are listed below. These expenses may vary, depending on your area:
At time of application: Mortgage application and appraisal fee, House inspection.
At time of Closing: Legal fees, Legal disbursements, Deed and/or mortgage, registration Property survey (sometimes provided by the seller), Land Transfer Taxes, by province Property tax adjustments, Fuel adjustments, Mortgage Title insurance and Moving Costs.
We will calculate fees you may incur in closing the home so that you know exactly what you will be paying. Having unexpected expenses when moving is something you’ll want to avoid.
Purchasing a home involves one-time costs and monthly expenses.
The largest one-time cost is the down payment. It usually represents between 5-25% of the total price of the property.
In addition to the actual purchase price, there are a number of other expenses that you might be expected to pay for. These are listed below:
- Mortgage Application and Appraisal Fee
- Appraisal Fee
- Property Inspection (optional)
- Legal Fees
- Legal Disbursements
- Deed and/or mortgage registration
- Property Survey (sometimes provided by seller)
- Land Transfer, Deed Tax or Property Purchase Tax
- Adjustments for Fuel, Taxes, etc.
- Mortgage Insurance (and application fee if applicable)
- Home and Property Insurance
- Connection charges for utilities such as gas, water and electricity
- Moving Expenses
- At time of application
- At inspection
- At inspection
- Closing
- Closing
- Closing
- When completed
- Closing
- Closing
- Closing
- Closing and ongoing
- Date of move
- Date of move
- Landscaping
- Redecorating
- Furnishings
- Appliance Repairs
