Decisions, decisions, decisions….3 bedrooms, 2 bedrooms, fireplace, family room? What makes the perfect home for you and your family?
Whether you are looking at purchasing your first home or simply making a move you must decide on what tweaks your interest. Once you have decided on the elements of your dream home, allow me to make this dream become a reality.
Aside from the purchase price of your home there are several other costs that should be considered:
Home Inspectors – recently it has become prudent for many to get a professional opinion on the condition of the prospective property.
Legal fees – these will vary dependent on purchase price, mortgage documentation and registration, title search, etc.
Moving costs – movers can be costly, so therefore it is suggested to get estimates from several moving companies.
Land Transfer Tax – For Toronto residents there are two land transfer taxes, One at the Provincial level, one at the Municipal level. 905 area code residents are not subject to the Toronto Municipal tax. Calculate your transfer amount.
Insurance Fees – depending on the value (i.e. purchase price) and choice of coverage, insurance costs may vary. It should be noted that proof of insurance is required before mortgage financing will be approved.
Real estate commission – in most cases it is the responsibility of the seller to pay the commission, however in certain circumstances, the commission to the selling agent is the buyer’s responsibility. For clarification contact myself regarding the Purchaser’s Agency Agreement .