Ever wish there was a list of all of the little extra costs associated with buying a new home? Look no further – we’ve included one below.
- Mortgage loan insurance premium
- Appraisal fee
- Deposit
- Down payment
- Estoppel certificate fee (does not apply in Quebec – condominium or strata purchase only)
- Home inspection fee
- Land registration fees (sometimes called a property transfer tax, deed registration fee, tariff or property purchases tax)
- Prepaid property taxes and/or utility bills
- Condo/strata fees
- Property insurance
- Cost of survey or certificate of location
- Legal fees and disbursements
- Title insurance
- New Home Warranty Program fee
- Home and property insurance
- Life insurance premium on outstanding mortgage
- Moving expenses
- Furnishings
Buying a home is one of biggest purchases you’ll make in your lifetime. Needless to say, remembering all of the little details that go into that purchase can be overwhelming. So we thought we’d create a compact guide that gave potential homebuyers the inside scoop. We hope you found the above list helpful. For more tips like this, register online to receive you free copy of our new book for new home buyers called Show & Tell: Unlocking the Secrets of New Home Buying.
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