Breakdown in new house buying costs
Oct 30th 2006, 1:00 pm
#16
Assimilated Pauper
Joined: Mar 2005
Location: Ontario
Posts: 40,020
Re: Breakdown in new house buying costs
Originally Posted by Hangman
Have to agree with the above.
This info is five years old, so not totally up to date.
When we sold a property we owned in Lethbridge in 2001 the legal fees including all disbursements and GST came to $462.76 a far cry from $3000.
The only other cost was the real estate commission $5090.53
Cheers
Steve
This info is five years old, so not totally up to date.
When we sold a property we owned in Lethbridge in 2001 the legal fees including all disbursements and GST came to $462.76 a far cry from $3000.
The only other cost was the real estate commission $5090.53
Cheers
Steve
Oct 30th 2006, 6:01 pm
#17
Just Joined
Joined: May 2006
Posts: 10
Re: Breakdown in new house buying costs
One should estimate about 2.5% to 3% of the purchase price when buying a new house, as follows
Land transfer on $300,000 is $2,975, lawyers fee on straight purchase $1000 plus disbursement, builder's closing cost (hydro, gas hookup etc including blvd. tree) $1500. Plus additional costs such as moving etc. So about 3% should be budgeted.
I am not sure if one can get a refund on GST on $300,000. Check website of Federal Govt , CRa then GST.
Land transfer on $300,000 is $2,975, lawyers fee on straight purchase $1000 plus disbursement, builder's closing cost (hydro, gas hookup etc including blvd. tree) $1500. Plus additional costs such as moving etc. So about 3% should be budgeted.
I am not sure if one can get a refund on GST on $300,000. Check website of Federal Govt , CRa then GST.
