Infographic: Costs You’ll Encounter when You Buy a Home

January 16, 2014  |  By
Fees and charges you don't expect when buying a home

You’ve saved up a down payment, you’re pre-approved for a mortgage, you’ve found a place you love.

Now, HEADS UP! There’ll be all sorts of extra fees and charges coming at you. With this handy chart you’ll be prepared for the hidden costs that come with buying a home.

Hidden costs of buying a home, plus grants and rebates

REW.ca Editor Infographic: Costs You'll Encounter when You Buy a Home Infographic: Costs You'll Encounter when You Buy a Home
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  • Michael

    Almost none of these fees are “hidden.” Sometimes they are “unexpected” if a realtor or mortgage broker failed to properly inform a buyer of what to expect or if a buyer lacks information. To colour this as “hidden costs” suggests that some of the industry is “preying” on the buyer in some way. Also, I don’t know of many lawyers that charge double what notaries charge. In fact, I know of many notaries that charge more than a lot of lawyers. This is sensationalist journalism that could have been so much more fairly presented. It’s disappointing.

  • http://www.rew.ca/ REWca

    Thanks for commenting, Michael. We didn’t mean to imply that there’s anything fishy going on. These are just costs that first-time buyers might not be aware of until they get to the point of working with a Realtor, lawyer or mortgage broker. If they haven’t saved enough to cover all the costs, not just the obvious ones like a down payment and strata fees, they can think they’re ready to buy and then find out that they’re not. This infographic gives them an overview so they can be prepared financially.