Typical One-Time Moving Expenses

Mortgage Application and Appraisal Fee at time of application

Property Inspection (optional) at inspection

Legal Fees at closing

Legal Disbursements at closing

Property Survey or Title Insurance at closing - A Survey of the property is usually required by the lender, (sometimes provided by the seller). If not available, a survey can cost between $600-$900. In lieu of the Survey, most lenders today will accept Title Insurance (approximately $250).

Land Transfer, Deed Tax or Property Purchase Tax at closing

Adjustments for Fuel, Taxes, etc. at closing - An estimate should be made for closing adjustments for bills that the seller has prepaid such as property taxes, utility bills, and other charges. Any bills after the closing date are the purchaser's responsibility. Your lawyer/notary will let you know what they are exactly once the various searches have been completed.

Mortgage Insurance (and Application Fee if applicable) at closing

Home and Property Insurance at closing and ongoing

Moving Expenses at date of move

Typical monthly costs incurred with home ownership are mortgage payments, maintenance, insurance, condo fees, property taxes and utilities. See the “What You Can Afford” to help you estimate the approximate purchase price of a home you can afford.

GST - GST is payable on the purchase of a newly constructed home. The purchase price (on the Offer) will say "Plus GST" or "GST Included", and who gets the GST new home rebate. A lot of builders have included this cost into the purchase price so that the buyer does not have to come up with that at closing. (As well, this tax is also charged on all professional fees).