Costs to Consider

Buying a home costs more than the offer you make. There are numerous other expenses that will add to the amount that you'll need to spend. This purchase price checklist outlines all the costs you can expect. Please note that they can vary by province and are subject to change.

Check out our mortgage calculators and resources to try out different scenarios and establish a budget.


The following is a list of everything you need to consider before making an offer on your dream home:

Purchase Price

The Starting Point In Your Calculation…If you’re like most first-time home buyers, you’ll need a mortgage for the majority of this cost.


Land Transfer Tax:

If you are a first time home buyer, you may be eligible for a refund on all or part of the tax. You can click here for more details. Basically the tax varies depending on property value:

Lawyer’s Fees:  $650-$900

Prices can vary depending on solicitor.


Registration Fee: $75

Fee paid to the provincial government for recording a title transfer, mortgage registration or another instrument such as an Assignment or Lien with the local authorities.


Appraisal Fees: $250 – $300

Common for most mortgages. We arrange these for you.


Home Inspection: $300-$450

A report commissioned by a property owner or purchaser, usually to verify the condition of a property prior to the “firming up” of a purchase agreement. The scope and detail may vary, but most reports outline any particular problems and associated repair costs. Unfortunately, no licensing is required, and this service is not specifically regulated other than by general consumer protection legislation. The best safeguard against inadequate work is to ask for the resume of the Inspector, or select a name firm who stands by their work.


Title Insurance: $265-$300

Can be purchased by home buyers to protect against potential deficiencies in a number of areas, such as the land survey. There are numerous benefits to this product, and you should consult your lawyer for more information.

Disbursement: $200-$300

The lawyer writes a letter to Norfolk Power and asks if there is any liens against property, so when a new purchaser gets a new house its debt-free and good to go.




Property Tax & Prepaid Utilities Adjustments

These costs vary depending on property value and location.