The largest one-time cost when purchasing a home 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 as well such as:
- Mortgage Application and Appraisal Fee
- Legal Fees & Legal Disbursements
- Property Survey (if not provided by seller)
- Land Transfer Tax
- Title Insurance (through your lawyer)
- Mortgage Insurance (through your mortgage broker or lender)
- Home and Property Insurance
- Connection charges for utlities such as Gas, Hydro, Phone , Cable, Water, Internet Access etc.
- Moving Expenses.
- Possible need for new appliances
- Repairs on new property if needed