Once you and your mortgage consultant have estimated your maximum purchase price and mortgage loan, you can start to plan for the additional costs that are typical of the home- buying process.
These extra costs and expenses can amount to between 2% and 4% of the value of the home. I always identify and help you plan for these costs so there are no unwelcome surprises as you move forward.
Extra Costs may be:
- Mortgage Insurance Application Fee (if required by CMHC)
- Mortgage Loan Insurance
- Appraisal fee
- Land survey fee
- Home inspection fee
- Legal fees
- Prepaid taxes, utility expenses, and other charges
- Provincial Tax
- GST (if purchasing newly constructed home)
- Home Insurance
- Moving Expenses
- Mortgage Consulting Fees
- Additional Expenses (Phone hookup, Utilities, etc.)