When it comes to buying a home everyone thinks they understand the amount of money involved, but aside from the purchase price there are a number of additional costs associated with buying real estate that can trip buyers up — especially first time home buyers.
It helps to be prepared and know what these costs will be: otherwise there could be a few unexpected surprises during the already stressful closing process.
Additional real estate costs beyond the negotiated purchase price often include:
Sales Tax: In British Columbia HST is charged on some kinds of property, including brand new homes and condos, while other real estate will be exempt from sales taxes. Make sure to know what taxes apply on which homes when you’re considering making an…