Showing posts with label Closing Cost. Show all posts
Showing posts with label Closing Cost. Show all posts

Friday, March 28, 2025

Unlock Your Dream Property: The 3-4 Must-Haves That Matter Most



Finding Your Dream Property by using priority decision making

Buying a new home can be both exciting and overwhelming. Where do you even start? Many people begin by making a giant wish list of every possible feature they could want. But that approach often leads to frustration when the "perfect" home remains elusive.

Instead of getting bogged down in a never-ending list, focus on your 3 or 4 core must-haves. These are the essential elements that you absolutely can't live without. For example, it might be:

  1. A safe, family-friendly neighbourhood 
  2. A good-sized backyard
  3. The correct number of bedrooms and bathrooms

Or perhaps your top priorities are:

  1. Staying within a specific price range or budget
  2. Finding the perfect neighborhood or location
  3. Having a garage or other key feature

Sure, your list may include other "nice-to-have" features, like a mature tree or a move-in-ready condition. But by honing in on your top 3-4 priorities, you can streamline your home search and increase your chances of finding that dream home.

Another benefit of this approach is that it will give you a clearer sense of the price range for homes with your desired characteristics. That way, you can get pre-approved for financing and be ready to make a strong offer when the right property comes along.

As an experienced real estate agent, I'm here to guide you through every step of the home-buying process. If you're ready to find your next dream home, call me today at 705-927-6236. I'll use my expertise to help you navigate the market and secure the perfect property.


Call us today for a clear path. We will look after you. 705-927-6236


Brought for you by: Your local Realtor®

The Brad Sinclair Team

If you are looking to either Buy or Sell, contact me at 705-927-6236

Brad Sinclair, Sales Representative

Team Lead at The Brad Sinclair Team

Royal Heritage Realty

Your inside source to cottage country

Tuesday, October 15, 2024

The Hidden Costs of Homeownership: What to Budget Beyond the Purchase Price


When buying a house, your budget should factor in an additional 4% to 8% of the total purchase price to cover the various costs associated with the transaction and maintaining your new home. While the purchase price is the most significant expense, there are several other expenses that homebuyers often overlook, which can quickly add up and impact your overall financial planning.

Land Transfer Tax

One of the most significant hidden costs of homeownership is the land transfer tax. This tax, which is calculated based on the price of your property and the province's tax rate, must be paid in full when the transaction closes. The land transfer tax can vary significantly depending on the location and value of the property, but it's essential to factor this cost into your budget.

Legal Fees

Another essential cost to consider is the legal fees associated with the home purchase. These fees can vary depending on the purchase price, but they typically range around $1,800 for a $500,000 purchase. It's important to work with a reputable real estate lawyer to ensure that the transaction is handled properly and to avoid any unexpected legal fees.

Maintenance Fees

If you're purchasing a condominium or a property with shared services, you'll need to factor in the maintenance fees. In Ontario, these fees are typically around $0.75 per square foot, and they cover the cost of shared services such as building maintenance, landscaping, and snow removal.

Moving Costs

Moving to a new home can be a significant expense, and it's essential to budget for it. Depending on the size of your household and the distance of the move, you can expect to pay around $3,000 for professional movers.

Renovation Costs

If you plan on making any renovations or upgrades to your new home, it's important to factor in the associated costs. Depending on the scope of the project, you can expect to spend around $30,000 or more on renovations.

Heating Fuel Fill-Up

Another often-overlooked cost is the need to pay for full tanks of fuel (propane or oil) as an adjustment at closing. This ensures that the previous homeowner has paid for any remaining fuel in the tanks, and you'll need to budget for this expense.

Unexpected Expenses

In addition to the costs mentioned above, it's important to remember that there may be unexpected expenses that arise during the homeownership process. These can include things like appliance repairs, plumbing issues, or unexpected maintenance needs. It's a good idea to set aside a rainy-day fund to cover these types of expenses.

Budgeting for Success

When it comes to buying a house, it's essential to have a comprehensive understanding of all the costs involved. By factoring in the hidden costs of homeownership, you can ensure that you have a realistic budget and avoid any financial surprises down the line.

  • Land transfer tax
  • Legal fees
  • Maintenance fees
  • Moving costs
  • Renovation costs
  • Heating fuel fill-up
  • Unexpected expenses

Remember, the purchase price is just the tip of the iceberg when it comes to the true cost of homeownership. By being proactive and budgeting for these additional expenses, you can ensure that your transition to homeownership is a smooth and successful one

Photos  &Written for you by:
Your local Realtor®
Waterfront and Rural Sales from the Kawarthas to Hastings Highlands to Haliburton.
Brad Sinclair, Sales Representative
Royal Heritage Realty, Brokerage


Unlock Your Dream Property: The 3-4 Must-Haves That Matter Most

Finding Your Dream Property by using priority decision making Buying a new home can be both exciting and overwhelming. Where do you even sta...