Purchasing a home involves one-time costs and monthly expenses.

The largest one-time cost 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. These are:

1. Disbursements. Includes obtaining City Tax Certificate, City Zoning Reports, City Engineering Report, Sheriff’s Certificate, Registry Office searches, registering deed, registering mortgage, copies, postage, long distance calls, title insurance, etc.
2. Survey. If no recent survey is available, a new one will cost approximately $1,000 – $1,500 +HST. Fees for larger and recreational properties will vary and could exceed average prices. Individual quotes are suggested.
3. Adjustments. This could be monies owing or owed for things such as pre-payment of taxes, hydro, gas, fuel oil, etc.
4. Home Inspection. If you elect to have one, it will cost a minimum of $500.00 +HST.
5. Arranging the Mortgage. Usually an appraisal fee of approximately $200.00 plus an administration fee of about $200 – $300. A new survey may also be necessary.