Purchase price: Varies
However, if you are buying a new home, 5% GST is applicable to the purchase price.
Home Inspection: $450-$750
I always recommend the buyer to do a home inspection before a deal is finalized. A home inspector will check through the property and will sit down with you and go through a checklist of things about the house that needs to be aware of, whether good or bad. This cost is paid by the buyer at the time of inspection.
Legal Fee: $650-$ 1500
Once the deal between the buyer and the seller is firmed, the paperwork is sent to a lawyer or a notary public at your choice for processing, including mortgage registration and title transfer. You will need to sign some documents on the completion day.
Property Transfer Tax: Varies
This tax is charged by the Provincial Government based on the purchase price of the property: 1% of the first $200,000 and 2% on portion greater than $200,000 up to $2000,000, 3% on the portion greater than $2000,000 up to $3,000,000, and 2% on the portion greater than $3,000,000. You may be exempt fro the PTT if you are first home buyer.
Mortgage Appraisal Fee: $200-$300
The lending institution usually requires an appraisal done on the property you purchased. Often the cost of appraisal is waived but nor always.
Land Survey: @250-$500
A legal survey may be required by the lender.
CMHC Loan Insurance: Varies
For the high ratio mortgage(lower than 20% down), the buyer is required to purchase loan insurance from CMHC. The cost of insurance is based on the percentage of the down payment.