Larry’s List of What Home Buyers Should Expect to Pay

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There are many more expenses to buying your new home than just qualifying for the mortgage

Many of them are just one time costs, but some may be continue on. To ensure you haven’t forgotten anything, I’ve come up with this checklist for potential first time buyers to assist in determining your overall budget.

  • GST and/or PST if applicable
  • Property or Land Transfer Tax
  • Home Inspection Fee
  • Survey Fee – in some cases
  • Appraisal Fee
  • Legal Fees and Disbursements
  • Any Adjustments ( determined by legal and reimbursed to the vendor)
  • Interest
  • Property Taxes
  • Utility Payments
  • Strata and/or Condo Fees
  • Mortgage Application Fee if applicable
  • Deed and /or Mortgage Registration Fee
  • Mortgage Brokers Fees if applicable, (many brokers fees are paid for by the lender usually)
  • Mortgage Loan Insurance Premium if only 5% is a down payment
  • Mortgage Loan Insurance Application Fee if only 5% is a down payment
  • Moving Expenses – obtain at least 3 companies quotes well in advance
  • Any future renovations or repairs to your new property, budget accordingly
  • Any future décor choices like window coverings, paint or flooring.
  • Service and Utility hook ups
  • Property/Condo Insurance

Hi, I'm Larry. I'd love to connect. My focus is on downtown Vancouver real estate in the neighborhoods of Yaletown, Kitsilano, False Creek, Coal Harbour, Gastown, and the West End. Buying Vancouver real estate is a big decision and it can be an emotional time. I put your needs first and work around your schedule.


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