Are you ready to buy a home? Make sure to budget for upfront purchase costs to avoid any surprises!
During the underwriting process:
- Appraisal fee (approx. $500)
- Home inspection (approx. $500
At the lawyer’s office:
- Closing costs (approx. 1.5% of your mortgage or purchase price): land transfer tax, title insurance, legal fees and disbursements
- Prepaid property taxes and utilities
After closing:
- Moving expenses
- Renovations and/or repairs
- Home insurance
- Mortgage or term life insurance