Calculating the Costs of Home Ownership

Buying a home is one of the biggest financial decisions that you will ever make. As a first time home buyer, you may findthe process overwhelming. If your an experienced buyer, you may find that each move has its own challenges.

Even before you start to look at your dream home, it is important to determine a price range that best suits you.  If you plan to finance your home purchase with a mortgage, sit down with your lender or mortgage specialist and have your mortgage pre approved. Then, you will know exactly how much you can spend and improve your negotiating power.    

Once you have figured out the price range that best suits you, and the type of mortgage you qualify for, you may want to calculate all of the associated costs of home buying to make sure that you are ready. Ultimate calculators

  •  Deposit  The deposit on the Agreement and Purchase of Sale, when you make an offer to purchase is usually at least 5% of the purchase price
  • Mortgage Loan Insurance Premium  A high ratio mortgage of less than 20% downpayment may require mortgage loan insurance.  Your lender may add the required premium to your mortgage amount. Mortgage Loan Insurance Info
  • Appraisal Fee  Buyer financing is based on appraised value. Your lender may require an appraised estimate of value for your home. The appraiser is generally chosen by the lender.
  • Land Survey  Your lender may require an up to date survey prior to finalizing the mortgage. There may be a substantial cost involved if a new survey is required.  The Association of Ontario Land Surveyors
  • Land Transfer Tax  The cost is a percentage of the property's purchase price. Land Transfer Tax
    Quick Calculation Formula
  • Land Transfer Tax Refund for fist time home buyers  First time home buyers may be eligible for a refund of all or part of the land transfer tax.  LTT Refund Info
  • Home Inspection  A home inspection is a report on the condition of the property, and is recommended that it is a condition of your offer in the Agreement of Purchase and sale. The cost is relevant to the size of the home. OAHI Ontario Association of Home Inspectors
  • Property Insurance  Covers the cost of replacing your home and its contents, and is required by mortgage lenders.
  • Legal Costs and Disbursements Your lawyer will charge a fee for costs associated with the closing costs of your home purchase and assurance of good title. James Deep
  • Title Insurance  Your lawyer may suggest Title insurance to cover any discrepancies regarding title to the property. Understanding Title Insurance Financial Services Commission of Ontario

  • Moving Expenses
  • Renovations and Repairs
  • Decorating, Window Treatments, Paint, wallpaper, flooring, carpeting etc.
  • Appliances if not in Agreement of Purchase and Sale

Ultimate Caluclators  is a collection of free financial calculators

Home Buyers' Plan HBP a program that allows home buyers to withdraw up to $25,000 tax free  from their Registered Retirement Savings Plan RRSP.

Home Buyers' Plan

CMHC Canada Mortgage and Housing Corporation provides valuable housing information.

First TIme Home Buyers' Tax Credit

5% Down Payment Program

Land Transfter Tax Rebate fot first time homer buyers


Contact a REALTOR®. Find a REALTOR® who can help guide you through the process.


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Sales Representative


CENTURY 21 Dreams Inc., Brokerage, 61 Lakeshore Rd. West, Oakville, ON L6K 1C9 * Independently Owned and Operated

Office: 905.338.1515 | Fax: 905.338.0101 |
Oakville Real Estate, Burlington Real Estate, Milton Real Estate, Hamilton Real Estate, Mississauga Real Estate


Residential Home Buying and Selling

Mirjana will prepare you for your entire home buying and selling experience, and will make home buying easier for you by providing you with the information you need to make a smart home purchase. Mirjana will  refer you to the best people, services and resources available.

Why choose tech savvy Real Estate Sales Representative Mirjana Spehar to Sell Your Home?

The National Association of Realtors 2009 Profile of Home Buyers and Sellers revealed that nearly 90% of potential home buyers begin their search online.  Given that 9 out of 10 people begin their home search online, there are many good reasons to work with a tech savvy agent. As a technologically savvy real estate sales representative, Mirjana can:

  • list your home on the "World's Best Real Estate Website",
  • list your home on the most technologically advanced, 'search' friendly web platform
  • Access to resources that create an unparalleled opportunity to distinguish your home in this competitive marketplace
  • provide extensive online presence, featuring your home on numerous websites
  • provide 24/7 service
  • consistently provide you with timely information; home evaluations, new listings, market information, for you to view via email

Why choose Mirjana Spehar to work with you to buy your home?

If you are in search of the perfect home, Mirjana will work with you to find the perfect home at the best possible, price, terms and financing available.

In today's competitive market timing is everything. Many good homes are sold before they are ever advertised. Mirjana will work with you to beat other home buyers to the hottest new listings with her New Listings Notification.

Mirjana will make every effort to satisfy everything that is important to you regarding the purchase of your new home in a caring, considerate and efficient manner.

Lifestyle Changes

As a REALTOR, Mirjana has gone through many changes in her personal life;  moving up, divorcing, down sizing, and dealing with the death of a loved one. She understands that many unexpected changes can come about in life when we least expect it . Mirjana will take care of your real estate situations with dignity, compassion, and understanding, and will help you find the right property to help you transition into the next chapter in your life.

  •  divorce
  • moving up
  • downsizing

Newcomers to Canada

Now that you have made Canada a new home, buying a new house is an exciting experience.  Mirjana will work with you to make your home buying process as smooth as possible, and will refer you to the best resources, people and services available. Mirjana will listen to your needs, show you suitable homes to visit, and negotiateon your behalf  to help you get the best possible deal.

First Time Home Buyers 

Ready to go house hunting? Buying a home for the first time can be overwhelming for first time home buyers.  Mirjana wil make every effort to make your home purchase a positive and stress free experience.

The Federal and Provincial government have established programs to assist first time home buyers. Click on the links for more information: Home Buyer's Plan Land Transfer Refund, and  First Time Homebuyers' Tax Credit






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