Closing Costs

Beyond the actual purchase price of the house, there are a multitude of additional costs you should be prepared for when you buy a home.  Don't be intimidated by this list, but assume you'll pay an additional 2% of the purchase price for 'closing costs'.  These costs include:

- Legal fees and disbursements

- If purchasing a new home, GST and/or PST may be applicable

- Land Transfer Tax (click here) to calculate the land transfer tax for a given purchase price)

- Adjustments for utilities and property taxes

- Interest 

- Home inspection fees or any other service fees requested by you as the purchaser (can include appraisal fees, water quality tests,      etc.)

- CMHC premiums (if your down payment is less than 20% of the purchase price), plus application fees

- Moving expenses

- Property/condominium insurance

If you need any clarification or further guidance on any of these items, please contact me and I'll be happy to explain further!