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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.