The "Other" Costs Associated With Buying A House.

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It is important as a first time buyer to remember that the down payment isn’t the only cost associated with buying your first home. The article “First-time homebuyers: Brace yourself for extra costs” was written by Craig Wong and published by the Globe and Mail. This article tackles all the other costs that are usually swept under the rug when saving to buy a home.

Some of the other costs that are included in the overall purchase of a house are home inspection, title insurance, and lawyer costs. There are also costs involved with making the house into a home such as buying furniture and appliances, moving expenses, service hook up fees and renovations and repairs.


You should understand that when buying a house you should not only focus on gathering up enough money for a down payment. If you decide to put a 5% down payment you should save upwards 3-5 % on top of this. Before buying a home you should always consult with a specialist so that you are not taken by surprise when all the extra costs hit.

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