Buying a Home

Whether it’s the first or the last home you plan to own, buy a home is an exciting and important investment. If you want information without sales pressure, let Grant Wildeman know what your property needs are and he`ll go to work to find the ideal property to meet your requirements. His comprehensive knowledge of the area and of the current market will narrow your search to find the perfect match. Grant will put all of the latest technology to work for you to make finding your new home as enjoyable as possible.

If you’re a first time homebuyer, you may not be aware of some costs to buying a home that are in addition to the negotiated price. Even if it’s not your first home purchase, it can be a helpful reminder to consider all of your costs. Here’s what to expect:

  1. Property Taxes – Any prepaid property taxes for year will be pro-rated and you will have to reimburse the seller. This is also the case for pre-paid utilities.
  2. Mortgage Loan Insurance – If your transaction involves a down payment of less than 20%, you will have to purchase mortgage loan insurance, typically through CMHC. The premium for the insurance is typically added to your monthly mortgage payment.
  3. Appraisal Fee – A lender may require that you have an appraisal done prior to financing. This fee can be between $150 and $350.
  4. Legal Fees and Disbursements to Land Titles Office – Even the most straightforward home purchase involves legal fees to take care of the steps that complete the transfer of funds between all parties and register you as the rightful owner. You can anticipate a minimum cost of $700 which can vary depending on the details and complexity.
  5. Inspections – The inspection/survey reports will document the details of the property you`re buying and protect you from unknown structural problems or access issues. Prices vary and Grant is happy to refer you to local companies offering these services
  6. Provincial Property Transfer Tax – 1% of the 1st $200,000 & 2% of the balance of the purchase price.

Monthly Mortgage Payments