In Quebec notary fees can vary by region. There are several fees that you must consider when buying real estate (residential property, condo your house) transaction costs. First-time home buyers can underestimate the fees associated with buying your first home or property.


Appraisal fees. Some financial institutions may ask for an appraisal of the property before giving a mortgage. You will need to hire an appraiser if your financial institution requests an appraisal.

Building inspector. Getting your property inspected is very important and can save you money in the long run from expensive repairs. The fee varies depending on the type and size of the building and on building inspector expertise fees.

Home owner taxes. There are several types of taxes that must be considered when buying a property. These taxes are: Duties on Transfers of Immovables (Welcome tax), Sales tax (QST & GST), CMHC tax, municipal tax and school tax. The last two (school tax and municipal tax) occur yearly so be sure to plan for them in your budget.

Mortgage insurance. If you put less than 20% down payment on your property, then you will be required to take the mortgage insurance. Depending on the value of the property, your financial institution might ask you to take the mortgage insurance even if you put more than a 20% down payment.

Moving costs. Be sure to include the cost of the truck, movers, moving equipment, hotel stays, travel costs, meals and any other expense associated with your move in your budget. If you are moving a long distance, your moving expenses can be tax deductible. Be sure to consult your accountant, Revenue Canada and Revenue Quebec about tax deductions

Utilities. There might be connection fees with your electricity, television, internet, phone or any other monthly service you subscribe to. Be sure to contact your providers and budget for these fees.

Condominium fees if you are moving to a condo. These are the monthly fee you must pay to the management company for maintenance, snow removal and more. Be sure to put this in your budget!

Fees Notary (notary fees). You will need a notary for the legal side of buying a new home. Choose a notary based on reviews, recommendations and your own professional criteria. A good notary will be able to see any problems and address them quickly.

Now that you have a list of fees, you can accurately budget the purchase of your new property. If you have any questions about the Home Buyers Plan, be sure to make an appointment with your notary.

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