{"id":211,"date":"2026-09-10T05:05:07","date_gmt":"2026-09-10T05:05:07","guid":{"rendered":"https:\/\/reyad.mwhost.ca\/2026\/09\/10\/achat-de-maison-13-frais-a-prevoir-avant-pendant-et-apres\/"},"modified":"2026-09-10T05:18:18","modified_gmt":"2026-09-10T05:18:18","slug":"achat-de-maison-13-frais-a-prevoir-avant-pendant-et-apres","status":"publish","type":"post","link":"https:\/\/reyad.mwhost.ca\/en\/achat-de-maison-13-frais-a-prevoir-avant-pendant-et-apres\/","title":{"rendered":"13 expenses to budget for when buying a home"},"content":{"rendered":"

1. Down payment<\/h2>\n

Average cost: 5\u201320% of the property\u2019s value<\/em><\/p>\n

While this is actually an investment rather than an expense, it is crucial to have enough funds for the\u00a0down payment<\/a>\u00a0before buying the property of your dreams. This is the very\u00a0first step in your real estate journey<\/a>\u00a0. Ideally, you should put down a 20% down payment so you can benefit from lower mortgage payments.<\/p>\n

However, with the cost of buying a house becoming increasingly prohibitive, it is possible to put down only 5% of the value of the property. In this case, your financial institution will ask you to take out mortgage loan insurance with the Canada Mortgage and Housing Corporation (CMHC).<\/p>\n

So, how do you save for a down payment? In addition to the traditional savings account, there are several\u00a0ways to finance your down payment<\/a>\u00a0: The Home Buyers\u2019 Plan (HBP), help from a family member, gift of equity, line of credit, personal loan, etc.<\/p>\n\n\n\n
<\/td>\nTips and\u00a0tricks<\/strong>Learn more about the\u00a0FHSA<\/a>\u00a0and the\u00a0HBP<\/a>\u00a0, two government programs that help first-time home buyers finance their down payment.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

2.\u00a0Home inspection<\/h2>\n

Average cost: $750\u2013$850 for a single-family home<\/i><\/p>\n

Calling on the services of a\u00a0building inspector<\/a>\u00a0is a must to avoid any potentially costly hidden defects a few months down the track. The\u00a0price of a house inspection<\/a>\u00a0can vary depending on the city and the building\u2019s features. In general, you should budget for between $750 and $850 for a single-family home.<\/p>\n

3. Valuation cost<\/h2>\n

Average cost: $500\u2013$900 for a single-family home<\/i><\/p>\n

In some cases, your financial institution may require a real estate valuation to validate the\u00a0market value of the house<\/a>\u00a0. The valuation is carried out by an independent professional appraiser who inspects the property and analyzes various factors, such as its size, condition, and location, as well as recent sales of comparable properties in the neighbourhood. The main objective of the valuation is to ensure that the loan amount corresponds to the real value of the property, thereby minimizing the risk to the lender.<\/p>\n

4. Notary fees or closing costs<\/h2>\n

Average cost: $500\u2013$1,500 or more<\/i><\/p>\n

All real estate transactions include a visit to the notary to formalize the sale. The notary plays a crucial role in ensuring the legality and security of the transaction. You must therefore budget for\u00a0notary fees when buying a house<\/a>\u00a0.<\/p>\n

In addition to drafting and authenticating the deed of sale, the notary verifies title deeds to ensure that there are no mortgages or other charges that could affect the transfer of title. The notary also examines the certificate of location, which provides a detailed description of the property, including the boundaries, buildings and any easements. Finally, the notary checks the status of municipal and school taxes, confirming that they have been paid so that no debt is transferred to the new owner.<\/p>\n

It is the notary who\u00a0receives the down payment and deposits it into a trust account<\/a>\u00a0, either by electronic transfer, bank draft or certified cheque. This transfer is often done a few days before the appointment. This delay, known as the clearing time, is used to verify the origin of the money and avoid real estate fraud.<\/p>\n

5. Title insurance<\/h2>\n

Average cost: $375\u2013$500 or more<\/i><\/p>\n

In certain situations, your notary may inform you of potential irregularities with title deeds.\u00a0Title insurance<\/a>\u00a0offers protection against various risks, such as tax arrears, encroachments, violations of municipal by-laws, survey plan errors or the absence of a certificate of location.<\/p>\n

Imagine buying a property with a shed that you believe to be located on your land but that actually encroaches onto your neighbour\u2019s property. If your neighbour asks for the shed to be moved, this is where your title insurance comes in handy as it can cover the associated costs to resolve the situation. This insurance is not mandatory and can be taken out by both the buyer and the seller. The title insurance cost is about $375 or more.<\/p>\n

6. Connection and moving company fees<\/h2>\n

Average cost: $100\u2013$150 or more per hour for a moving company<\/i><\/p>\n

A new home means moving! You can either take care of the move yourself by renting a truck, or save yourself some sore muscles by\u00a0calling the professionals<\/a>. Renting a truck costs $30 to $50 per hour, while the price of a complete move with two movers can set you back between $100 to $150 per hour.<\/p>\n

You may also have to pay connection fees to install your new Internet or telephone service.<\/p>\n\n\n\n
<\/td>\nTips and\u00a0tricks<\/strong>Some\u00a0moving expenses may be tax deductible<\/a>\u00a0.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

7. Welcome tax or property transfer tax<\/h2>\n

Average cost: varies according to property value and location<\/em><\/p>\n

In Quebec, the\u00a0welcome tax<\/a>\u00a0, also known as property transfer tax, is the provincial and municipal taxes that apply to the purchase of a property. The municipality will bill you for these taxes a few weeks or a few months after you purchase your home. This amount depends on the value of your property, with the amount used for calculating the tax being the higher of either the sale price or the municipal property assessment.<\/p>\n

For a property sold for $260,000, your property transfer tax will be:<\/p>\n