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 (on only 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
