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Determine What Purchase Price You Can Afford
Buying a house involves various one-time costs and monthly expenses.
The largest one-time cost will always be the down payment which usually represents
between 5% – 25% of the purchase price of the property.
Aside from the purchase price, there are a number of
other one-time initial costs that you might be expected to pay for;
Mortgage Application and Appraisal Fee - paid for usually at time of mortgage application
Home Inspection - If you conduct a home inspection, the fee is paid for on the day of inspection
Property Survey - There are various instances when a new survey would be required
Legal Fees and Disbursements - Paid upon the closing of the purchased property
Land Transfer Tax - Paid upon closing
Cost Adjustments for Fuel, Taxes, etc. - adjusted upon closing
Mortgage Insurance - payable upon closing
Moving Expenses - Paid on moving day
On-going Costs
Monthly Mortgage Payment
Home and Property Insurance
City Property Tax
Find the Right Real Estate Agent
Understand what type of Real Estate Market you are facing as a Buyer
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Telephone: (416) 762-8255 | Toll Free: 1 (866) 335-1900 | Fax: (416) 762-8853 | Email:Alex@BuyWithAlex.com
Royal Lepage Real Estate Services Ltd., Brokerage, Independently Owned & Operated