There are many costs homebuyers incur. Some of the expenses related to buying a home are one time costs, while othere costs are ongoing. The largest cost is typically your downpayment. As a first time buyer you would most likely put 5%-10% down on the purchase price (20%-35% for foreign nationals). You should be prepared to pay addition costs along the way, such as:

• Legal Fees (650+)
• GST/PST (if applicable) (7%-14%)
• Property or Land Transfer Tax (sliding scale. the bank or mortgage broker will explain)
• Adjustments (reimbursed to the vendor) (done at the Lawyer/Notary)
• Property Tax (varies)
• Utilities (varies)
• Strata Fees (varies)
• Survery Fee
• Home Inspection ($250+)
• Water quality and quantity certificate
• Appraisal Fee (Bank fee)
• Mortgage Broker's Fee (if applicable)
• Mortgage Application Fee (built in to the mortgage)
• Deed and/or Mortgage Registration Fee (built into the mortgage)
• Mortgage Loan Insurance Premium (built into the mortgage)
• Mortgage Loan Insurance Application Fee (build into the mortgage)
• Moving Expenses (varies)
• Renovations and Repairs (varies)
• Service and Utilities hook-up Fee
• Insurance (varies)