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Costs to Consider 

Lawyers Fees

You’ll need to hire a laywer to review your Agreement of Purchase and Sale, as well as any documents like Status Certificates or requisitions. The lawyer will make arrangements for Title Insurance, mortgage statements, any adjustments, ownership changes, payment of fees, keys, etc. Lawyers’ rates vary from practice to practice depending on many factors such as disbursement fees, mortgage type, etc.

Land Transfer Tax

When you acquire land, you pay a Land Transfer Tax to the province when the transaction closes. It is normally based on the amount paid for the land, in addition to any mortgage or debt assumed as part of the agreement to buy the land. Land Transfer Tax is generally calculated using the following formulas based on your purchase price:

– on the first $55,000: 0.5%

– from $55,000 to $250,000: 1%

– from $250,000 to $400,000: 1.5%

– over $400,000: 2%

Please note, if you are a first time homebuyer, you are eligible to receive an exemption of up to $4,000.


All mortgage companies require you to carry home insurance. The costs vary depending on your coverage and the company you use (just as with car insurance). Some companies offer a discount if you insure your home and automobile with them.

Moving costs and utility hook ups 

Moving costs are something to consider, whether you’re making the move across town or across the country! You may choose to rent a truck and move everything yourself, or you may want to hire a reputable moving company to do the heavy lifting for you. Make sure they are insured and bonded, and that they come with the gleaming recommendation from people you trust. You don’t want to leave all your belongings with people you don’t know!

Once you have purchased a home, you can begin setting up your utilities at the new property. Often this can (and should) be done in advance of closing, so don’t wait until the last moment to get these accounts set up.

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