Choosing and Working with a Real Estate Agent

Once your budget is determined, it is time to find an Agent. As buying a home is probably one of the largest investments you will ever make, it is very important that you choose an agent knowledgeable in this field, and one that you feel comfortable working with. Working with a competent real estate agent will save you time, money and frustration. I believe that I can help you get the best property at the lowest overall cost, and with minimum inconvenience. I would be very pleased if you would consider me as your Buyer’s Agent!

The Fact - Costs of Buying A Home

Down Payment Requirement

  • All borrowers must meet the standards for a five-year, fixed-rate mortgage, even if they choose a variable mortgage with a lower rate or a shorter term.
  • The maximum Canadians can withdraw when refinancing their mortgages has droped.
  • Buyers must make now a minimum 20 per cent down payment — up from five per cent — to qualify for Canada Mortgage and Housing Corp. insurance for non-owner-occupied properties purchased as an investment.
  • 20% - Canadian investor
  • 50% - foreign purchasers/investor

Where down payments can come from…

Appraisal fee

Survey Certificate

Home Inspection fee


Mortgage Default Insurance


Title Insurance

Legal Fees

Property Transfer Tax

The tax payable under this Act is

(a) 1% of the first $200 000 of the fair market value of the taxable transaction, and

(b) 2% of the remaining fair market value of the taxable transaction.

Full exemption to this tax - first time home buyers, with 25% or less down payment and buying a property with a purchase price under $425,000.

HST - Starting July 1, 2010

Property Tax Adjustment

Condominium Maintenance Fee

Other costs