Maureen Walsh

Purchasing a home involves one-time costs and monthly expenses. The largest one-time cost is the down payment. It usually represents between 5 to 25% of the total price of the property. In addition to the actual purchase price, there are a number of other expenses that you might be expected to pay for. These are listed in the table below:

EXPENSES	PAID
Mortgage Application & Appraisal Fee.....................................	At home of application
Property Inspection (Optional).............	At inspection
Legal Fees.........................................	Closing
Legal Disbursements..........................	Closing
Property Survey Sometimes provided by seller.............	Closing
Land Transfer, Deed Tax or Property Purchase Tax (in Quebec within 3 months following signing	Closing
Take Over Fee (if applicable)	Closing
Adjustments for Fuel, Taxes, Etc	Closing
Mortgage Insurance (and application fee if applicable)	Closing
Home & Property Insurance	Closing and On-going

Typical monthly costs incurred with home ownership are mortgage payments, maintenance, insurance, condo fees, property taxes and utilities, See the "What You Can Afford" Worksheet to help you estimate the approximate purchase price of a home you can afford.

Determine what you can afford Understanding Market Conditions
Obtain a pre-approved mortgage The major elements of an offer
How to make an offer Hire a legal professional &
Have the home inspected Some moving tips
The home buyer's glossary of terms