Did You Remember These Common Closing Costs?

When you’re going over your home buying budget, it’s vital that you set aside an additional two to five per cent of your home’s price to pay for closing costs.

Closing costs are the costs associated with buying a new home, and these are costs that usually need to be paid upfront. They can include:

–   Extra fees

–   Utility transfers

–   HST on new homes

–   Toronto Land Transfer Tax

–   Cost of moving

–   Property Insurance

–   Provincial Land Transfer Tax

–   Any legal fees

–   Home insurance

–   Mortgage insurance

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