Closing Costs

Good morning,

 

Purchasing a home is one of the biggest investments anyone will make. It can be a stressful time, especially for first-time home buyers. It is something new and there's a lot of information to take in as well as a lot of unknown information that is not spoken of until later in the process, such as closing costs.

Closing costs usually amounts to 2-2.5% of the purchase price of the house. For example: if you purchase a home for $450,000, be sure to have an extra $9000 for closing costs.

Closing Costs consists of:

* Land Transfer Tax ( Toronto homes pay double the tax: provincial and city)

*Lawyer fees

*Prepaid utility adjustments

*Property taxes

* Title insurance

 

Hope you are now aware of some of the extra costs that come along with purchasing a house 

 

-Stephanie

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Stephanie Sealy

Stephanie Sealy

Sales Representative
CENTURY 21 Harvest Realty Ltd., Brokerage*
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