Buying your first Calgary or Cochrane, AB home is an exciting experience. What are the costs associated therewith?
First and foremost, it is important to note that enlisting the assistance of a licensed Realtor to look after your best interests as a home buyer COSTS YOU NOTHING; it is the Seller whom is responsible for compensating the respective Realtors (i.e. Listing Realtor & Buying Realtor) for their hard work and expertise.
So what are the costs to You, the Buyer? In summary:
- Down payment: Minimum of 5% of purchase price as a down-payment.
- Real Estate Lawyer: Both home Seller and Buyer will each require legal representation for the transaction.
While prices tend to vary, a Buyer should budget +/- $1,200 for legal fees.
- Utility deposits: If you have never had utilities in your name, there may be small security deposits due upon utility hook-ups. If your utility accounts at your existing address are in good standing, no deposit will be required upon transfer of account(s) to the new address.
- Moving Costs: Depends on amount of belongings to be moved, distance travelled for move and the amount of packing assistance provided by the respective moving company (i.e. if applicable). Costs can range from a couple hundred dollars for a 1-2 day cube van rental for a DIY move, to well into the thousands for a professional moving company.
Questions? We have the answers; feel free to reach out at your convenience.