Learn Before You Leap – Moving Costs to Keep in Mind

Written By Passion Works Digital
A man and a woman stand in a white room. It's empty except for plants in the corner. Both faces are blocked by moving boxes. The woman holds one box, the man holds two stacked on top of one another.

Upfront Costs

  • Deposit: up to 5% of the purchase price, made when you make an offer to purchase.

  • Down Payment: 20% of the purchase price is required for a conventional mortgage.

  • Home Inspection Fee: generally $500.

  • Prepaid Property Taxes and or Utility Bills: to reimburse the vendor for prepaid costs such as property taxes, filling the oil tank etc.

  • Property Insurance: covers the cost of replacing your home and its contents. Property insurance must be in place on closing day.

  • Survey or Certificate of Location Cost: $1,000 to $2,000 range.

  • Legal Fees and Disbursements: Must be paid upon closing. Minimum of $500.

  • Land Registration Fees: a percentage of the property’s purchase price. Check with your lawyer/notary to find out the current rates.

  • Property Appraisal Fee: between $250 and $350.

  • Moving Expenses

  • Additional items

Other Costs

  • Appliances

  • Service connection fees: Charges for utilities, telephone, gas, electricity, cable TV, satellite TV, Internet etc.

  • Renovations or repairs

  • Window treatments

  • Decorating materials

  • Snow-clearing equipment

  • Gardening equipment

  • Dehumidifier

Condo Costs

If purchasing a condominium, there will be some fees in addition to the ones mentioned above. They are:

  • Estoppels Certificate Fee: up to $100

  • Initial payment of the monthly condominium fees

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