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!