Possible Costs Associated When Buying a Home

A "slush" fund of $7,500 - $12,000 is recommended

• Deposit - Within 24 hrs, typically $5,000 - $10,000

• HST- Applicable on new homes over $400, 000

• Appraisal Fee - $400-$450

• Home Inspection Fee - $450 - $550

• Adjustments - To pay the seller back for taxes and other costs

• Land Transfer Tax - First Time Buyers receive a $4,000 rebate (under $368,000)

• Legal Fees & Disbursements - Typically between $1,200 - $1,600 for a local Lawyer

• Title Insurance - $250 - $350. Title insurance offers homeowners protection from fraud, identity theft, and forgery.

• CMHC Insurance - Added to your monthly payments

• Moving - moving company, renting a truck, paying friends in pizza and beer

• MISC - $1000