Possible Costs Associated When Buying a Home

A "slush" fund of $10,000 - 15,000 is recommended

Deposit - Within 24 hrs, typically $25,000 - $30,000
HST- May be applicable on new homes over $400, 000
Appraisal Fee - $400-$450
Home Inspection Fee - $550-$650
Mortgage Broker Fee - 1% of the purchase
Adjustment - Pay back the seller for taxes and other costs
Land Transfer Tax - First Time Buyers receive a $4,000 rebate (under $368,000)
Legal Fees & Disbursements - Typically around $1,700 for a local Lawyer
Title Insurance - Your lawyer will recommend this cover loss caused by defects of title of property - around $500
CMHC Insurance - Added to your monthly payments
Moving - moving company, renting a truck, paying friends in pizza and beer
MISC - $1000