What other expenses do I have to allow for besides the downpayment?
In addition to the downpayment, you will have to money to pay a Land Transfer Tax on the value of the property you buy, legal fees for arranging the mortgage and title searches etc, CMHC fees if they are not lumped into your mortgage, GST on the CMHC fees – up front, possibly a condo estoppel certificate fee, the Ontario New Home Warranty program registration, a survey, a Home Inspection fee, and closing adjustments. The fees can easily add up to over $5,000. As part of my FAST-TRACK No-Mystery Buyer’s program, I spell out those costs in detail before you begin searching for a house. You will know what you are getting into when we begin working together, and you will not get an embarrassing call from your lawyer looking for more money on Closing day. Forewarned is forearmed. Call me now. Get on the FAST-TRACK!
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- What other expenses do I have to allow for besides the downpayment?
