What other expenses should I expect before buying a property?

Before you decide to buy a property, you will need to assess the lump sum and regular expenses associated with buying and maintaining the house. When compiling your budget, consider the following:

• House purchase fees:
• evaluation fees;
• notary fees;
• survey certificate, location;
• the right to transfer ownership;
• mortgage premiums (CMHC, GE Capital);
• taxes on mortgage premiums;
• removal costs;
• household insurance;
• adjustment of property taxes;
• monthly mortgage payment (principal and interest);
• property tax;
• mortgage life insurance;
• heating;
• condominium charges (if applicable);
• house maintenance costs.

Multi-Prêts Mortgage Advisor will help you evaluate these costs. Communicate with us.