Buying a home costs more than just the purchase price
Posted by Kent Braaten on
Buying a home is likely going to be the largest purchase of your life, and the total cost goes beyond just the purchase price. Here’s what you can expect for costs associated with your purchase.
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LAND TRANSFER TAX | .5-2% of value
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When a home changes hands, many provinces and a few municipalities, charge a property transfer tax, or title transfer fee. It can add thousands to your purchase price. (First time home buyers qualify for rebates or exemptions in some provinces)
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APPRAISAL FEE | around $500
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Your lender may ask you to have a home appraised to confirm its market value. Fees vary depending on a property’s value and complexity… CLICK HERE TO CONTINUE READING
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LEGAL FEES | $500-$800
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A lawyer or…
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