Costs Involved in Buying a Home 

We feel you should be aware of some of the costs involved when buying a home so there are no surprises. We want the real estate transaction to be stress free and the transition into your new home to be as seamless as possible. Below are some costs that will be incurred when purchasing a home: 

• Mortgage Application Fee 

• Deposit at Time of Offer 

• Property Appraisal (Bank/Lender usually pays for this if they want one done) 

• Property Inspection ($350 - $550) 

• Balance of Purchase Price (Down Payment – at least 5% of Purchase Price) 

• Canada Mortgage and Housing Corporation – CMHC Fees (Added onto mortgage payment if you are putting down less than 25% of the purchase price) 

• Legal Fees ($700 - $1000) 

• Legal Disbursements ($300 - $500 include: Land Title Transfer Fee, Registration of Mortgage, Certificate of Title, Land Registry Search Fees) 

• Mortgage Insurance (CMHC or Private) 

• Home and Garden Improvements 

• Moving Expenses 

• Home and Property Insurance 

• Utility Hook-ups (Phone, cable, electricity, water/sewer) 

• Renovations (Painting, finishing basement, carpet cleaning, etc.)