Planning for Your Purchase - the Extra Costs
You should be prepared for the many costs associated with the purchase of a
home. Some of the more common costs, which vary by province, include:
- Legal fees
- Fees for the registration of your deed and mortgage
- Mortgage processing fees
- Mortgage insurance and application fee (if you have a high ratio mortgage)
- Home, fire, mortgage life and disability insurance
- GST (only on newly constructed homes)
- Adjustments for property taxes and/or utility costs already paid by the
existing owner
- Connection charges for utilities such as gas, electricity and water
- Provincial taxes (B.C. only)
- Land transfer tax
- Land survey fee
- Home inspection (if desired)
- Moving expenses
- Appliances, furniture, draperies and gardening equipment
- Landscaping
- Decorating
- Repairs
If you have any questions regarding estimates of these costs, Bob can provide
you with the required information.
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