Typical Expenses

There are many costs that homebuyers incur, especially upon purchasing your first home that you should expect to pay. Some of the expenses related to buying a home are one-time costs, while others are continuing costs.
 
Your largest cost at the beginning is your down payment. As a first time buyer, this would likely represent only 5 - 10% of the purchase price. However, you should be prepared to pay for additional costs, such as:
 
  • Legal Fees & Disbursements
  • HST  (if applicable)
  • Property or Land Transfer Tax (PTT)
  • Adjustments (reimbursed to the vendor)
  • Interest
  • Property Taxes
  • Utility Payments
  • Strata or Condominium Fees
  • Estoppel certificate fee
  • Survey Fee
  • Home Inspection Fee
  • Water quality and quantity certificate
  • Appraisal Fee
  • Mortgage broker's fee (if applicable)
  • Mortgage Loan Insurance Premium (if only 5% down)
  • Mortgage Loan Insurance Application Fee (if only 5% down)
  • Moving Expenses
  • Renovations and repairs
  • Furniture, paint, carpeting, window coverings, etc.
  • Service and Utility Hook-up Fees
  • Property/Condominium Insurance
  • Mortgage Application Fee
  • Deed and/or Mortgage Registration Fee
Additionally, once you have purchased your home, you will incur regular expenses on a monthly, quarterly or yearly basis. Some of these costs may include:
 
  • Mortgage Payment
  • Water and/or Sewer Payments
  • Electricity and Gas Services
  • Cable and Telephone Services
  • Property Taxes
  • Strata or Condo Fees
  • Repair/maintenance Expenses
  • Homeowner's Insurance

Connect with us

RE/MAX Crest Realty (Westside)
1428 West 7th Avenue
Vancouver, BC

"Service disponible en francais" 
 

 Louise Boutin  604.358.1080

Email: Louise@vancouverhometeam.ca

  

 

 Pat Little  604.803.1778

Email: Pat@vancouverhometeam.ca

  

 

 

 Nadia Doucet Licensed Assistant  604.230.1111

Email: Nadia@vancouverhometeam.ca

  

 

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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.