What are the Cost to purchase a condo or house in Burnaby? (Part 3 of 3)
Cost Estimator for Burnaby Home Buyer 2020 (Continue …)
Phase 3: After Completion Date
What You Need to Pay For After Closing
- Moving Expenses
- Change locks fee (varies depending on how many)
- Electric/Gas/TV Cable Connection Charges(varies)
- Damage deposit for move-in (refundable)
Please check for any tax exemptions as a buyer and if they apply to you!
Four common tax exemptions that may probably bring down the cost of buying a home if you may qualify:
First Time Home Buyers’ Program
If you’re purchasing your first home, you may qualify to reduce or eliminate the amount of property transfer tax you pay.
Newly Built Home Exemption
If you’re purchasing a newly built home, you may qualify for a property transfer tax exemption.
- Transfer of a principal residence (PDF)
- Transfer of a recreational residence (PDF)
- Transfer resulting from a marriage breakdown (PDF)
- Transfer of a family farm involving individuals (PDF)
- Transfer of a family farm to or from a family farm corporation (PDF)
GST and Rebate
Buyer’s Agent Commission
In Canada, you do not need to pay us the commission, and the seller will pay both side commission. But, a Realtor can represent you on your behalf and protect your best interest. You get the realtor’s experience, market knowledge, negotiation skills to guide you through the buying process.
Purchasing is probably one of the largest investments, decision you have ever made in your life, it is important to have an expert on your side to protect your best interest and negotiate the best deal for you. Please remember to use a Realtor to represent you on your real estate transaction.
If you have any real estate question for buying, selling or property management, feel free to contact me at (778) 862-8321.
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