From the blog...
FINANCIAL CONSIDERATIONS WHEN BUYING A HOME
When purchasing a home it is important to know what the extra costs will be. The projections below are an estimate of expenses involved in a typical real estate purchase. Not all of these costs* will apply in all circumstances.
| LEGAL/ RELATED FEES | INSPECTION COSTS | |||
| Lawyer Fee | $900-$1100 | Home Inspection | $500-$600 | |
| Legal Disbursements | $600-$800 | Status Certificate | $100 | |
| Prepaid Taxes or Utility Bills | To be determined | Septic Inspection | $500 | |
| Title Insurance | $270 | Water Inspection | $450 | |
| MOVING COSTS | ||||
| Moving Company | $600-$4000 | |||
| Utility hook ups etc. | To be determined | |||
| Change of locks | $100 | |||
| PURCHASE PRICE | LAND TRANSFER TAX | LOAN-TO-VALUE RATIO | PREMIUM RATE | |
| $300,000 | $2,975 | Up to and including 65% | 0.60% | |
| $400,000 | $4,475 | Up to and including 75% | 1.70% | |
| $500,000 | $6,475 | Up to and including 80% | 2.40% | |
| $600,000 | $8,475 | Up to and including 85% | 2.80% | |
| $700,000 | $10,475 | Up to and including 90% | 3.10% | |
| $800,000 | $12,475 | Up to and including 95% | 4.00% Traditional Down Payment | |
| $900,000 | $14,475 | 4.50% Non Traditional Down Payment | ||
| $1,000,000 | $16,475 | |||
| $1,100,000 | $18,475 | |||
| $1,200,000 | $20,475 | |||
| $1,300,000 | $22,475 |
*Please note: these costs are merely an estimate and are only provided as a ballpark estimate of what to expect when purchasing a home.
Tags: Buyer, Buying in Ottawa, first time buyers, Homes for Sale in Ottawa, Ottawa, Ottawa Housing Market, Ottawa Real Estate, Ottawa Realtor, Real Estate Ottawa