Home Purchase Expenses

There are many costs and expenses that home buyers must incur. This is not an all inclusive list but covers most costs you will encounter. Be certain to carefully review and budget for these expenses before you consider entering into a firm purchase commitment.

Be prepared to pay for the many costs and expenses when due including, but not limited to, the following:

Legal Fees & Disbursements (Get a detailed estimate from the lawyer)

HST, GST or PST (if applicable)

Land Transfer Tax - check the rate based on purchase price.

Property taxes and adjustments

Interest adjustments on interim financing, if any

Unpaid Utility Payments or City levies outstanding

Strata or Condominium Fees or special levies due before or after the close

Certificate fees

Survey fees

Home Inspection fees

Water quality and quantity certificate

Appraisal Fees

Mortgage broker's fee (if applicable)

Mortgage Loan Insurance Premium (if less than 20% down)

Mortgage Loan Insurance Application Fee (if less than 20% down)

Moving Expenses

Renovations and repairs

Furniture, paint, carpeting, window covering.

Service and Utility Hook-up Fees

Property or Condominium Insurance

Mortgage Application Fees

Deed and Mortgage Registration Fees

Municipal Water, Sewer Payments and Garbage collection

Electricity and Gas Services

Cable, Telephone and Internet Services

Property Taxes

Strata or Condo Fees

Repair and Maintenance Expenses

Homeowner's Insurance

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