Common costs for buyers

No one likes unexpected bad news—especially the financial kind!

This worksheet can help you prepare for the cost of closing, moving, and getting settled into your new home.

Common Closing Costs:

  • Balance of down payment after initial deposit with offer
  • Mortgage loan administration and/or appraisal fees
  • Points or loan discount fees paid to receive a lower interest rate
  • Credit report fees
  • Mortgage insurance premiums
  • Land transfer tax and title registration fees
  • Title insurance policy premiums
  • Survey expense
  • Legal fees and related costs (couriers, photocopies, etc.)
  • Pro-rated amounts for your share of any prepaid costs, such as utility bills and property taxes.

Moving Costs:

  • Packing supplies
  • Movers
  • Vehicle rentals (My clients receive a free rental van for moving!)
  • Ancillary expenses (food, hotels, etc.)

On average, a Canadian home buyer may spend approximately $1,325 on moving costs.3

Settling-In Costs:

  • Changing locks
  • Cleaning
  • Painting, minor renovations, and repairs
  • Furniture for additional rooms
  • Lawn care and landscaping

On average, a Canadian home buyer may spend approximately $3,550 on general household purchases, $6,575 on furniture and appliances, and $9,525 on renovations.3