Expected Costs

When you buy a home, you will be asked for a deposit and a down payment. A deposit will be required either at the time of making the offer or upon acceptance of the offer. The deposit is an act of good faith and goes towards the purchase price of the home. A Down payment is usually between 5 and 25% of the total price of the property. You might also have a number of other fees and expenses to pay.

Some of the most common expenses are listed below. These expenses may vary, depending on your area:

Expense

Paid

Mortgage application and appraisal fee At time of application
House inspection (optional) At time of application
Legal fees Closing
Legal disbursements Closing
Deed and/or mortgage registration Closing
Property survey (sometimes provided by the seller) Closing
Land Transfer Taxes by province Closing
Property tax adjustments Closing
Fuel adjustments Closing
Mortgage insurance Closing
Title insurance Closing

 


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