Colourview Ontario Real Estate

Posts Tagged ‘Handy’

Home ownership is a dream for many, but it is costly. Ongoing costs for owning a home are for insurance and council rates, and for any maintenance that needs doing.

If the home is in good repair, this may not surface for a couple of years, but there is sure to be something that breaks or wears out eventually, and if it is not attended to, the problem could become worse. For instance, if gutters are not replaced when they begin to leak, the water overflowing could cause a great deal of damage to walls and floors. Remember, the actual purchase price of the home is not the only thing you will have to pay. If you’ve been renting up until now you may not realise that there are many other costs associated with the purchase and ownership of a home. Some of these fees and costs include: -

- Legal fees or conveyancing.
- Loan application fees
- Council rates and transfer costs
- Stamp duty – a government charge.
- Connection fees for utilities
- Insurances for the home and the home loan.
- Don’t forget the fee for the removalist.
- Adjustments may have to be paid when the contract is signed

Many of these costs are one-offs and all vary from person to person so you need to ask your solicitor for an estimate, then there will be no nasty surprises waiting for you.

Ongoing costs for owning a home are for insurance and council rates, and for any maintenance that needs doing. If the home is in good repair, this may not surface for a couple of years, but there is sure to be something that breaks or wears out eventually, and if it is not attended to, the problem could become worse. For instance, if gutters are not replaced when they begin to leak, the water overflowing could cause a great deal of damage to walls and floors.