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Additional Costs

What to Plan For How Much What It Is

Property/Land Costs
(Provincial property/land transfer and registration taxes)

It is based on a percentage of the purchase price (0.3% to 2%) and varies from province to province.

Most provinces levy a tax on a home purchase that must be paid at the time of registration.

Legal/Notary Fees

Check with your lawyer or notary for current rates.

Professional representation protects your interests in the purchase of a property. Fees and disbursements may vary based on a transaction's complexity.

Mortgage Insurance

Premium fee depends on the amount you are borrowing and the percentage of your down payment. It typically ranges from 1% to 3.25% of the principal amount of the mortgage.

Any home purchase where the down payment is between 5% and 19% is considered a high-ratio mortgage and must be insured to protect the lender in case of default by the borrower.

What to Plan For How Much What It Is

Property Insurance

Varies based on value of the property, location and contents of the home.

Mortgage lenders require you to have property insurance in place when you take possession of your new home. Make sure you enlist an insurance agent early.

Home Inspection

$200 to $500

A home's clean bill of health from a qualified home inspector can provide a great deal of comfort when buying a resale home.

Moving Costs

Variable, per hour

Costs depend on what you can do yourself and the distance involved. Prices may be higher at the end of the month or in the summer.

Mortgage Broker Regina