What other costs should I expect when buying a home?

Other costs to expect

Clinton Wilkins explains what other costs to expect, so you won’t be surprised.

Don’t feel like watching? Check out the video transcript below.

Transcript:

“When buying a home there may be some costs that you want to be prepared for. The first cost that often comes up and people are surprised about is deed transfer tax. In HRM deed transfer tax is 1.5% of the purchase price. There will be legal fees typically seven hundred to a thousand dollars and that’s the cost for your lawyer to do up the mortgage and deed There will also be a property tax adjustment property taxes in HRM are due twice a year. When you buy a home you’re required to pay the property taxes that have already been prepaid by the seller. If you buy a house with oil heat you’re required to reimburse the seller for a full tank of oil. In addition to these costs, we like clients to have a bit of a buffer for moving, hookups, inspections.”

So if you have more questions? Feel free to contact us!