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1. www.squareone.ca › resource-centres › home-buying18 common fees: A cheat sheet for home buyers and sellers

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   • Legal fees and disbursements. These fees are charged by a lawyer or notary, and can cost up to $1,200 depending on the complexity of the deal. Your lawyer or notary will arrange all transfers, payments and other factors of the funds for the real estate transaction.
   • Property or land transfer tax. This is applied on all purchases of homes. These taxes are calculated at different rates depending on the province and city in which the sale takes place.
   • Property taxes. This should come out of your legal fees, and your notary will take care of this. You will owe or receive a prorated amount for the remainder of the year’s property taxes.
   • Utility payments/hook-up fees. You will have to pay to have your utilities connected to your new property.

2. www.mhlaw.ca › articles-the-costs-and-feesThe costs and fees when buying/selling a house

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   Jun 29, 2023 · The costs and fees when buying/selling a house. The costs of a real estate transaction such as buying or selling a house depend on a variety of factors. It is important for the seller or buyer to understand these costs and fees beforehand so that they can budget accordingly.

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4. www.centris.ca › en › blog13 expenses to budget for when buying a home - Centris.ca

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   Aug 6, 2024 · 13 expenses to budget for when buying a home. Buying a house or condo can come with various fees, such as one-off costs during the transaction or recurring expenses. Before jumping on the property ladder, it’s best to understand the real cost of becoming a homeowner.

5. www.desjardins.com › en › tipsUseful list of expenses when buying a home - Desjardins

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   • Buying: What Are The One-Time Costs?
   • Recurring Costs: Up to 32% of Your Gross Income
   • Selling: The Most Common Expenses

   Moving expenses

   Set aside the equivalent of 3% to 5% of your property value for these inevitable costs: 1. land transfer tax (commonly referred to as the welcome tax in Quebec) 2. notary or lawyer fees 3. adjustment of municipal and school taxes 4. mortgage insurance premium1 5. professional services such as a home inspection and appraisal 6. moving expenses 7. standard service connection fees (electricity, gas, telecom­munications, etc.)

   Setting up your home

   Sometimes, little expenses here and there can add up. In particular, keep in mind the cost of: 1. purchasing new furniture and/or household appliances 2. interior decorating: blinds, curtains, lighting, carpet cleaning, painting, etc. 3. outdoor renovations: installing a fence, landscaping, adding a pool, etc. 4. small odd jobs and slightly more substantial renovations

   Building your own home? Your one-time costs will go up as you’ll also be paying for:

   1. the preparation of plans and specifications 2. a building permit 3. surveying 4. landscaping 5. sales taxes 6. possibly water and/or soil analysis

   See full list on desjardins.com

   Once you’re settled in, you’re still not off the hook. It’s recommended that you set aside up to 32% of your gross income on annually-recurring fixed costs. These typically include: 1. your mortgage loan payment 2. standard service fees (electricity, gas, telecom­munications, etc.) 3. home insurance, life and disability loan insurance 4. municipal ...

   See full list on desjardins.com

   Few people realize that it’s just as important to budget for the following expenses when selling your home, especially if you’re also buying a new property: 1. paying your mortgage balance (this one goes without saying), but it’s possible you’ll also be charged a prepayment penalty if you pay your loan in full before the end of your contract. Asses...

   See full list on desjardins.com

6. www.realtor.ca › blog › 8-costs-to-consider-when8 Costs to Consider When Buying and Renovating to Sell

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   Explore this guide when buying and renovating to sell, focusing on elements that can increase your home's value and managing your budget strategically.

7. www.moneysense.ca › spend › real-estateReal estate transaction costs to consider - MoneySense

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   Nov 11, 2015 · The purchase price you negotiate when buying or selling a home is just one part of the ultimate cost for a home. In addition to the purchase price there are a number of other fees—known...

8. People also ask

   How much does it cost to buy a home?

   • The fees related to buying a home represent between 2% and 3% of the property's value, on top of your down payment, your regular mortgage payments and major renovations if needed. To avoid unpleasant surprises, be prepared to pay these 9 fees: 1. Property appraisal fees Cost: from $350 to over $800 (paid immediately)

   9 fees to consider when buying a home - National Bank

   www.nbc.ca/personal/advice/home/costs-buy-house.html

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   How much does it cost to sell a house?

   • They can vary a lot, but a cost of at least $1,000 per year is to be expected. The seller is responsible for paying these fees, though they would come out of the sale price rather than the seller’s pocket. You can also negotiate something differently in order to close a deal.

   18 common fees: A cheat sheet for home buyers and sellers

   www.squareone.ca/resource-centres/home-buying-selling-moving/18-common-fees-a-cheat-sheet-for-home-buyers-and-sellers

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   How much does it cost to sell a $500,000 home?

   • The typical cost is about $300 on a $500,000 home. You will be leaving MoneySense. Just close the tab to return. The biggest fee sellers will have to pay are the commission fees of the realtors involved with the sale of the property.

   Real estate transaction costs to consider - MoneySense

   www.moneysense.ca/spend/real-estate/real-estate-transaction-costs-to-consider/

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   What should a seller and buyer know before buying a home?

   • It is important for the seller or buyer to understand these costs and fees beforehand so that they can budget accordingly. Both seller and buyer are encouraged to reach out to their real estate lawyers to discuss their circumstances to get a personalized estimate.

   The costs and fees when buying/selling a house - Meighen Haddad LLP

   www.mhlaw.ca/articles-the-costs-and-fees-involved-in-buying-or-selling-a-house

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   Should you pay your mortgage before selling your home?

   • Few people realize that it’s just as important to budget for the following expenses when selling your home, especially if you’re also buying a new property: paying your mortgage balance (this one goes without saying), but it’s possible you’ll also be charged a prepayment penalty if you pay your loan in full before the end of your contract.

   Useful list of expenses when buying a home - Desjardins

   www.desjardins.com/en/tips/useful-list-expenses-buying-home.html

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   How much should a single family home cost?

   • In general, you should budget for between $750 and $850 for a single-family home. 3. Valuation cost Average cost: $500–$900 for a single-family home In some cases, your financial institution may require a real estate valuation to validate the market value of the house .

   13 expenses to budget for when buying a home - Centris.ca

   www.centris.ca/en/blog/finance/13-expenses-to-budget-for-when-buying-a-home

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9. www.nbc.ca › personal › advice9 fees to consider when buying a home - National Bank

   www.nbc.ca › personal › advice

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   Dec 5, 2022 · The fees related to buying a home represent between 2% and 3% of the property's value, on top of your down payment, your regular mortgage payments and major renovations if needed. To avoid unpleasant surprises, be prepared to pay these 9 fees: Property appraisal fees. Building inspection fees. Legal fees.