Costs To Be Aware of for First Time Buyers In Ontario
Posted by Frank Polsinello on
Buying a home for the first time can be an exciting but daunting experience, especially for those living in Ontario. With the current state of the housing market, it's important for first-time buyers to understand the costs involved in the process. In this article, we will go over some of the key costs to be aware of when buying a home in Ontario.
- Down Payment:
One of the biggest costs for first-time home buyers in Ontario is the down payment. This is the amount of money you pay upfront towards the purchase price of the home. In Canada, the minimum down payment required is 5% of the purchase price of the home for homes up to $500,000. For homes between $500,000 and $1,000,000, the minimum down payment is 10%…
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