There are many costs that homebuyers incur, especially upon purchasing your first home that you should expect to pay. Some of the expenses related to buying a home are one-time costs, while others are continuing costs.

Your largest cost at the beginning is your down payment. As a first time buyer, this would likely represent only 5 - 10% of the purchase price. However, you should be prepared to pay for additional costs, such as:

• Legal Fees & Disbursements
  
  
• GST on Realtors and lawyers fees.
  
  
• Property or Land Transfer Tax
  
  
• Adjustments (reimbursed to the vendor)
  
  
  • Interest
  • Property Taxes
  • Utility Payments
  
  
  
• Strata or Condominium Fees
  
  
• Survey Fee (RPR)
  
  
• Home Inspection Fee
  
  
• Water quality and quantity certificate (acreages)
  
  
• Appraisal Fee
  
  
• Mortgage broker's fee (if applicable)
  
  
• Mortgage Loan Insurance Premium (if less than 25% down)
  
  
• Mortgage Loan Insurance Application Fee (if less than 25% down)
  
  
• Moving Expenses
  
  
• Renovations and repairs
  
  
• Furniture, paint, carpeting, window coverings, etc.
  
  
• Service and Utility Hook-up Fees
  
  
• Property/Condominium Insurance
  
  
• Mortgage Application Fee
  
  
• Title/or Mortgage Registration Fee
  
  

Additionally, once you have purchased your home, you will incur regular expenses on a monthly, quarterly or yearly basis. Some of these costs include:

• Mortgage Payment
  
  
• Water and/or Sewer Payments
  
  
• Electricity and Gas Services
  
  
• Cable and Telephone Services
  
  
• Property Taxes
  
  
• Strata or Condo Fees
  
  
• Repair/maintenance Expenses
  
  
• Homeowner's Insurance