Saving for the Down Payment is Only One Part 1. Paid on Closing Day (the expenses settled with your lawyer before you get the keys) Land Transfer Tax (LTT) - sliding scale based on home price This is the most frequently either forgotten or unknown expense for those purchasing a home. Whenever keys change hands in Ontario, a provincial land transfer tax is imposed on closing. The amount is ba

Hey there, future homeowner! Buying your first home is super exciting, but let's be real, it can also feel like a whirlwind. One of the most crucial steps in this journey is the home inspection. Think of it as a thorough health check-up for your potential new abode. It’s all about making sure you know exactly what you’re getting into, and trust me, it can save you a lot of headaches (and cash!) do

Breaking into the market: A helpful guide Forgetting to Budget For Closing Costs It's important to give yourself a cushion, typically 1.5% to 4% of the purchase price, to ensure that your closing costs are covered. More on that in my previous post, linked here: https://brankomiskovic.ca/blog/buying-your-first-home-this-year-don-t-miss-these-steps Confusing Your Pre-Approval with an Approval

What are the first-time home buyer programs in Ontario The Welcome Home Niagara Homeownership Program (Niagara) What's this? An interest-free loan worth 10% (capped at $66,774) of the home's purchase price (max purchase price is $662,000). If you end up keeping the home for 20 years as your principal residence, the loan is forgiven. But, if you sell or leave before the 20 years, the loan must be

Can I buy a home in Hamilton or Niagara on a single income? Buying on a single income in the Hamilton or Niagara areas is possible, but it depends on what you buy, where you buy, and if you are or can leverage any of the government programs. If you are looking to make it happen in the more bustling parts, gear your search towards condominiums and stacked townhouses. There are also affordable op