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Home Buyer Expenses
There are many different costs that a home buyer, especially a first home buyer, will incur. Some of these expenses will be one time costs, while others are on-going costs.
The first and largest cost that every home buyer will incur is the down payment. The down payment will usually be between 5-1-% of the total purchase price of your new home. Other costs that you may or not be aware of are:
- Legal Fees & Disbursements
- Property or Land Transfer Tax
- Stamp Duty
- Adjustments (reimbursed to the vendor)
- Interest
- Utility Payments
- Strata or Condominium Fees
- Estoppel certificate fee
- Survey Fee
- Home Inspection Fee
- Water quality and quantity certificate
- Appraisal Fee
- Mortgage broker's fee (if applicable)
- Mortgage Loan Insurance Premium (if less than 25% down)
- Mortgage Loan Insurance Application Fee (if less than 25% down)
- Moving Expenses
- Renovations and repairs
- Furniture, paint, carpeting, window coverings, etc.
- Service and Utility Hook-up Fees
- Property/Condominium Insurance
- Mortgage Application Fee
- Deed and/or Mortgage Registration Fee
In addition to these first time costs you should be prepared for these additional costs every month:
- Mortgage Payment
- Water and/or Sewer Payments
- Electricity and Gas Services
- Cable and Telephone Services
- Strata or Condo Fees
- Repair/maintenance Expenses
- Homeowner's Insurance
To contact on of our agents please call +001 345 943 1234 or email.
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