Cost Guide

What you need to know before you write an offer. 

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

Your largest outlay is the down payment. As a first time buyer, this would represent a minimum of 5% of the purchase price. Be prepared to pay for additional costs, not all of these will apply so be sure you understand which ones will so you feel comfortable with how much money you need to complete this process. 

  • Legal Fees & Disbursements
  • GST and PST (if applicable)
  • Land Transfer Tax
  • Property taxes and adjustments (reimbursed to the vendor)
  • Interest on interim financing, if any
  • Estoppel certificate fee
  • Survey Fee
  • Home Inspection Fee
  • Water quality and quantity certificate (Acreage Properties) 
  • Appraisal Fee
  • Mortgage broker's fee (if applicable)
  • Mortgage Application Fee
  • Mortgage Registration Fee
  • Mortgage Loan Insurance Premium (if less than 20% down)
  • Mortgage Loan Insurance Application Fee (if less than 20% down)
  • Moving Expenses



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, Telephone and Internet Services
  • Property Taxes
  • Condo Fees
  • Repair/Maintenance Expenses
  • Homeowner's Insurance


If ever you are unsure if these costs apply to you, feel free to call me so we can chat. 

Get In Touch

Roxann Klepper

Phone: (403) 872-4546

Email

Office Info

RE/Max Real Estate Central Alberta

4440 49 Avenue  Red Deer,  AB   T4N3W6 

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