I wish it wasn't the case but when you purchase a home there isn't only the one cost you can look forward to paying, there are many hands at work to make sure this transaction is done legally, professionally and that you and your investment are protected during the transaction up until closing day. These are here to help you so you have no surprises when you decide to jump into the exciting world of investment and start builidng equity for your future.

Maintenance Fees

If you are looking at Condo’s or Condo Townhouses you will for sure have to pay this. Keep in mind it is often calculated by the Square footage of the unit and what the property management has deemed what your maintenance fees cover. Some Developments you pay really low fees, but all that is covered in that is generally the lawn maintenance and snow removal in the winter and the more expensive fees include things like building insurance, water, Central Air Conditioning (CAC) and Heat and all you would have left to pay for is the Hydro. You will see what is exactly covered in the Buildings Status Certificate, which your Lawyer would Review.


These will depend on where and what type of property you buy. Generally this get broken down into paying for many things in the area such as Public Schools, Policing, Maintenance of Parks and Recreational services, Libraries and many other Municipal costs. Tip: this is also something that you can sometimes get worked into your mortgage payments so don’t get hit with that surprise extra set of 4 bills due every year.


You will definitely need a lawyer and I know a bunch of great affordable lawyers that I use all the time. You can expect to pay anywhere from $1000-$2000 + for the services of a lawyer.

Realtor fees

Not sure if you are aware but the seller of the home generally pays the Real Estate fees

Land Transfer Tax

Depends on how much you spend on the property is how this is calculated. You could get a rebate if you are a first time home buyer so ask your bank or lender.

Moving Costs

This obviously all depends on what you are moving, where you are moving and how much. Tip - If you go with movers and move somewhere in the middle of the month you may be able to find a deal as well.

Status Certificate 

This is about $125 dollars to get. It is one of the conditions usually put forth when you submit an offer. The property management company charges this to produce the document to be taken over to your lawyer for review. This clause is put in to protect you from any hidden fees, liens or costs on the property.


These can sometimes be requested and if you don’t have a current one they can generally run about  $1000-$2000


There are usually some adjustments on closing that the lawyers have to make regarding utilities, property taxes etc.  


Generally you get charged hook up fees for electrical, water, gas, etc. but you can sometimes save these if you set up automatic withdrawal.

Title Insurance

Your lender and lawyer will make sure you get this to protect the lenders investment

Home Inspection

Costs for one are between $300-$500. This is a condition often used that protects you from buying a home and discovering any issues after the fact.


This isn't acutally a cost but you do need to have some money saved up for a deposit when you put an offer on your home. Generally you want to try to have 20% ready to put down on your home. You many find other ways but you will definitely pay more in the long run this way. So be sure to start saving!!

Slush fund

In a perfect world everything goes smoothly…but I always suggest to have little but put aside just in case something else pops up ($1000-$2000)
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