A first-time homebuyer’s guide to closing costs in Canada
Between squirreling a downpayment away, setting aside the dough for mortgage payments each month and being on the hook for repairs — we all know buying a house is expensive. But some first-time homebuyers aren’t prepared for the transactional fees associated with the actual home purchase itself. These are called closing costs, and they can really add up if you aren’t prepared for them. The long list includes land transfer taxes, title insurance, appraisal fees, home inspection fees, legal fees and more.