Kelly Clements

RE/MAX Executives Realty

Cell (204) 229-0101

Office (204) 987-9808


Closing Costs

Closing costs need to be budgeted for in addition to your down payment.   

Appraisal Fee:  A cost that may be required by your financial institution to determine the value of your home.   

Home Inspection:  Is a report by a Professional Home Inspector of the condition of your home and generally ranges - $400-$500.00.

Legal Fees:  Are fees payable to your Lawyer for services rendered.

Mortage Insurance:  A cost associated with mrtgages with less than 20% down payment.  The cost of the premium is usually added to your mortgage and is based on the amount of your down payment.

Property / Home Insurance:  This insurance covers the replacement value of your home and it's contents.  All lenders will require proof  of insurance prior to taking possession.

Property Transfer Tax:  The land transfer tax is payable based on the value of the transaction. 

GST:  Is payable on all new home purchases.

Other Costs:  Some other expenses to consider:

  • Appliances
  • Outdoor equipment
  • Re-decorating
  • Internet service
  • Moving expenses