{"id":29,"date":"2016-12-27T17:15:03","date_gmt":"2016-12-27T22:15:03","guid":{"rendered":"http:\/\/stefangerber.brixwork.ca\/blog\/?p=29"},"modified":"2020-07-27T17:35:19","modified_gmt":"2020-07-27T21:35:19","slug":"buyer-costs","status":"publish","type":"post","link":"https:\/\/stefangerber.com\/blog\/buyer-costs\/","title":{"rendered":"Buyer Costs"},"content":{"rendered":"<p><strong>Budgeting for New Home Expenses<\/strong><\/p>\n<p>In addition to your down payment and mortgage installments, other expenses may be incurred for the purchase of your new home. Some are one-time costs-others monthly or yearly.<\/p>\n<p>Being educated and financially prepared will result in a seamless transaction.<\/p>\n<p><strong>List of Buying Expenses<\/strong><\/p>\n<p>The following is a list of expenses that may or may not apply to your particular situation, but it\u2019s best to review all possibilities in order to budget appropriately.<\/p>\n<ul>\n<li>A 5% deposit upon an accepted offer.<\/li>\n<li>Appraisal Fee: may be requested by your lender. Costs vary. $700 \u2013 $1000<\/li>\n<li>Building inspection. Costs vary depending on the size of the property. $350 \u2013 $700<\/li>\n<li>5% GST on new homes. Resale homes are GST exempt.<\/li>\n<li>Mortgage application fee.<\/li>\n<li>Survey Fee: may be requested by your lender. Costs range from $700 \u2013 $1000<\/li>\n<li>Legal Fee: Costs range from $600 \u2013 $1200<\/li>\n<li>Moving expenses.<\/li>\n<li>Interest adjustments.<\/li>\n<li>Land Transfer Tax: in BC the rate is 1% on the first $200,000 and 2% on the balance.<\/li>\n<li>Homeowner\u2019s Insurance<\/li>\n<li>Service Charges: These include fees for utilities such as cable and TV installation.<\/li>\n<li>Renovation Costs<\/li>\n<li>Maintenance Fees (for condominium purchase only)<\/li>\n<\/ul>\n<p><a href=\"http:\/\/stefangerber.com\/buying\" target=\"_blank\" rel=\"noopener noreferrer\">Learn more about buying a home with Stefan Gerber.\u00a0<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Budgeting for New Home Expenses In addition to your down payment and mortgage installments, other expenses may be incurred for the purchase of your new home. &hellip;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"_links":{"self":[{"href":"https:\/\/stefangerber.com\/blog\/wp-json\/wp\/v2\/posts\/29"}],"collection":[{"href":"https:\/\/stefangerber.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stefangerber.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stefangerber.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/stefangerber.com\/blog\/wp-json\/wp\/v2\/comments?post=29"}],"version-history":[{"count":2,"href":"https:\/\/stefangerber.com\/blog\/wp-json\/wp\/v2\/posts\/29\/revisions"}],"predecessor-version":[{"id":44,"href":"https:\/\/stefangerber.com\/blog\/wp-json\/wp\/v2\/posts\/29\/revisions\/44"}],"wp:attachment":[{"href":"https:\/\/stefangerber.com\/blog\/wp-json\/wp\/v2\/media?parent=29"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stefangerber.com\/blog\/wp-json\/wp\/v2\/categories?post=29"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stefangerber.com\/blog\/wp-json\/wp\/v2\/tags?post=29"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}