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Don’t forget to factor these costs into your condo budget
Mar 27, 2018

Basic purchase price

— Unit sale price

— Upgrades (negotiable)*

— Development charges*

— GST or HST on the sale price*

— GST and PST or HST on appliances and other items being purchased with the unit*

— Utility hookup fees*

— Landscaping fees*

— Two months’ common expenses to build the reserve fund*

— Occupancy fees (if you move into your unit before the unit is

registered) that may include estimated common expenses based on the disclosure statement budget

— Estimated realty taxes on the unit

— Warranty program enrolment fees*

 

Costs of closing price

— Remainder of purchase price

— Legal fees and disbursements

— PST and GST on extras or upgrades to unit finishes, equipment and

systems if not included in purchase price*

— Provincial or territorial land transfer tax, if applicable

— Adjustments

 

Recurring Costs

— Monthly condominium fees or common expenses (or monthly occupancy fees if you move into your unit before it is

registered)

— Property taxes

— Unit and contents insurance

— Mortgage payments

— Amenity fees, such as storage, pool and extra parking, if not included in the common expenses

— Utilities (if not included in the common expenses)

— Telephone, cable & Internet access (if not included in the common expenses)

— A contingency for emergency repairs

— Maintenance costs associated with the upkeep of your unit

— Other Costs

 

*May not apply to resale units, since it was already paid and/or factored into the purchase price. There are exceptions.

— Canadian Mortgage and Housing Corporation