Purchasing Costs in Calgary
When buying a home it is very important that you have an understanding of the costs associated with the transaction. Many people assume that when they buy a home, they’re just paying for the price of the home.
There are many additional costs that you need be aware of and prepared for. Make sure you speak with your financial planner to ensure you have money put aside for these costs, unless you have made arrangements with your bank to include these costs in your mortgage.
The first and largest expense is going to be your deposit. As a first time buyer, you may be eligible for the first time home buyer’s discount of 5%, but it may be up to the seller, to make sure they are comfortable that you want walk away from the sale.
This list may frighten you but don’t worry, all of these costs and payments are part of the process and well worth it. I will also sit down with you to go over all of the payments that will be included in your new home, as they can vary depending on the type of home. I can also put you in contact with some people I work with that can provide you with pricing, etc.