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.

What other expenses should I expect before buying a property?

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