Vancouver Real Estate Specialist

Blog › April 2015

HIDDEN COSTS OF BUYING A HOME


Home Sevin Atilla

Buying a home is a big decision. It requires both mental and financial readiness. Whether you are a first time home buyer or making your second maybe third property purchase; it is a good idea to familirize or remind yourself the costs attached to a home buying process other than the obvious purchase price. Here is a list of costs beyond the mortgage;

 

Deposit: Minimum 5% of the purchase price.

PTT (Property Transfer Tax): 1% on the first $200,000 and 2% on the balance. You could qualify for exemption if you are first time home buyer and purchasing under $475,000.

Sales Tax: 5% GST; only applies to new built homes.

Home Inspection: This is optional but I would highly recommend hiring a licensed inspector to check for major or latent issues that you might miss. Depending on the inspector, fees could vary between $400-$700.

Land Survey Fees: The lender might require this.

Appraisal: The lender sends an appraiser to appraise the value of the property you are purchasing. Some lenders will waive the fee for this while others might charge around $300.

Moving expenses: Most Stratified properties charge move in/move out fees. 

 

Home buying process should be fun and exciting. Don't let these costs scare you. Familirize yourself with them and be prepared.

If you have questions, ask! I am here to help.

 

Sevin Atilla
604-505-1858



New Listing 15 - 1925 Indian River Crescent, North Vancouver, British Columbia


V1117897 - 15 - 1925 Indian River Crescent, North Vancouver, British Columbia, CANADAView my new listing for sale at 15 - 1925 Indian River Crescent, North Vancouver and currently listed at $649,000.

Welcome to the Windermere. This well maintained, adult oriented complex has been resurfaced with a top of the line new roof, rainscreening,new stucco siding,some new windows, fencing and patio work. So all you need to do is enjoy the great back yard from your patio, relax in your living room with vaulted ceilings and great indoor -outdoor flow, or sip coffee in your eating area adjoining the kitchen. 3 bedrooms, 2 1/2 baths, lots of storage space. Single attached garage and space for second car. Walk on lit trails to shopping, gym, library and Deep Cove. Downsize in style-large enough to spread out in- the perfect size after a house. Located at the quiet end of the complex. Open May 2-3 2-4