First Time Home Buyers

Buying your first home

First time home buyers have unique needs within the real estate market. It is important that you get the answers to all your questions before you buy your first home. Leo, along with other knowledgeable specialists, guide first time home buyers throughout the entire real estate transaction process, and answer questions every step of the way.

While the entire process of buying a home can sometimes seem overwhelming and daunting, this is also a very special, important and exciting time in your life. Rest assured that Leo will make the process as smooth as possible.


Home Buying Expenses

One of the most-asked questions has to do with the expenses associated with buying a home.

While your largest out-of-pocket expense when buying your first home is going to be your down payment (most first time buyers put down about 5 - 10 % of the purchase price), there are other costs associated with buying a home that you may not be aware of. These include:

  • Legal Fees and Disbursements
  • HST (if applicable)
  • Property or Land Transfer Tax
  • Adjustments (reimbursed to the vendor)
  • Interest
  • Property Taxes
  • Utility Payments
  • Strata or Condominium Fees
  • Title Insurance Fee
  • Survey Fee
  • Home Inspection Fee
  • Water Quality and Quantity Certificate
  • Appraisal Fee
  • Mortgage Broker's Fee (if applicable)
  • Mortgage Loan Insurance Premium (if only 5% down)
  • Mortgage Loan Insurance Application Fee (if only 5% down)
  • Moving Expenses
  • Renovations and Repairs
  • Furniture, Paint, Carpeting, Window Coverings etc.
  • Service and Utility Hook-up Fees
  • Property/Condominium Insurance
  • Mortgage Application Fee
  • Deed and/or Mortgage Registration Fee

Once you have purchased your home, there are other regular/on-going expenses that occur on a monthly, quarterly or yearly basis. Some of these costs include:

  • Mortgage Payment
  • Homeowner's Insurance
  • Property Taxes
  • Strata/Condo Fees
  • Repair/Maintenance Expenses
  • Water / Sewer Payments
  • Electricity and Gas Services
  • Cable and Telephone Services

Buying Your First Home? Put Leo's Expertise To Work For You!


Contact Leo