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| Guide to BUYING Your Home " Determine What You Can Afford "
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Purchasing a home involves one-time costs and monthly expenses.
The largest one-time cost is the down payment. It usually represents between 5-25% of the total price of the property.
In addition to the actual purchase price, there are a number of other expenses that you might be expected to pay for. These are listed below:
Typical One-Time Expenses
| EXPENSE |
PAID |
| Mortgage Application and Appraisal Fee |
At time of application |
| Appraisal Fee |
At inspection |
| Property Inspection (optional) |
Closing |
| Legal Fees |
Closing |
| Legal Disbursements |
Closing |
| Deed and/or mortgage registration |
Closing |
Property Survey
(sometimes provided by seller) |
Closing |
Land Transfer, Deed Tax or Property
Purchase Tax (in Quebec within
3 months following signing) |
Closing |
Mortgage Interest Adjustment and
Take Over Fee (if applicable) |
Closing |
| Adjustments for Fuel, Taxes, etc. |
Closing |
Mortgage Insurance
(and application fee if applicable) |
Closing |
| Home and Property Insurance |
Closing and on-going |
Connection charges for utilities
such as gas, water and electricity |
Date of move |
| Moving Expenses |
Date of move |
Other costs may include landscaping, redecorating, furnishings, appliances
and repairs.
Typical monthly costs incurred with home ownership are mortgage payments,
maintenance, insurance, condo fees, property taxes and utilities.
Return to Guide to BUYING Your Home
Hugh can send you information on any Property Listed For Sale on the Multiple Listing Service in the Ottawa area. If you would like him to help you locate a home, please fill out his help find a home form.
Hugh has answers to a lot of your questions and more professional tips to make your real estate transaction more pleasurable. Call or e-mail Hugh or click on "Ask Your Own Questions."
Surfing the Real Estate Board's web site or MLS.CA and found a house that you like but doesn't give you the civic address. Hugh can also help. Just fill out his would like an address form, pleased !
Or perhaps you are considering selling your home in the near future, he can also offer you a Free No-Obligation Market Evaluation Form.
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