Closing Costs and Ongoing Expenses

When working out your budget, consider breaking down your expenses into what you will spend monthly. ALso consider the one-time and ongoing costs associated with the transaction. Closing costs can be anywhere from 1.5-4% of the property value.

One-Time Costs

• Closing Costs (1.5-4%)
• Down Payment (5-20%)
• Deposit (5-10%)
• Land transfer tax 
• Movers
• Furniture
• Home Inspection

Ongoing Costs

• Insurance
• Property Tax
• Condo Fees
• Maintenance
• Utilities
• Repairs