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Buying your first home is an exciting time, but it can come with many more costs than expected. Here are a few costs to anticipate when you are buying your home:

Home inspection fees ­– Home inspection prices range depending on the size, age, and area your home is located.

Deed transfer tax ­– Rates are set by your municipality, and range from 0.5 per cent to 1.5 per cent of the property value. You have 10 days to pay the deed transfer tax.

Water quality inspection – If your home uses well water the water quality should be inspected.

Appraisal fees – In Nova Scotia these fees range from $300-$400. Home appraisals are conducted to find the value of your home in order to get a loan.

Legal fees – The price of a lawyer depends on the firm you choose, but the lawyer will deal with the mortgage, looking at the terms of the purchase and dealing with adjustment costs.

New items – Don’t forget the costs of movers, new furniture and appliances you may need.

Our Editorial Staff

Our Editorial Staff

New Homes & Renovations is a consumer publication dedicated to the home building, renovating and decorating industries of Nova Scotia, Canada. With homeowners and consumers in mind, the publication features articles, tips and stories on local projects and businesses