Jordan Epstein Toronto Real Estate

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Real Estate Investing

Plan for the costs of home buying

There’s a lot to consider when buying a home aside from finding the right property to suit your needs and lifestyle.  As your Coldwell Banker® real estate professional will tell you, home buying requires a plan, and that includes sound financial planning.  After all, home buying doesn’t just involve the immediate expenses incurred with your real estate transaction.  It also requires long-term changes to monthly spending that should also be planned for before you buy.

Some of the immediate costs that you can expect during the home buying process are appraisal, home insurance, legal fees and disbursements, utility hookups, and home inspections. The Canada Mortgage and Housing Corporation (CMHC) offers an on-line Consumer Guide and Workbook on their website at site ( that includes an excellent list of other expenses to be considered when calculating your home buying costs.  Of course, you may not know what amounts to use when estimating these expenses.  That’s where your Coldwell Banker real estate professional comes in.  With their wealth of experience, they can help you come up with realistic price ranges to work with so you’ll know what to expect before you make an offer to purchase.  

Monthly expenses will also change with new or increased spending on utilities, home repair and maintenance, lawn and garden care, appliances, homeowner's insurance, tools and decorating. All will have to be included in your new spending plan.  Not sure what to allow for such costs?  Again, here’s where your Coldwell Banker professional can help you estimate the costs of such expenses, sometimes obtaining historical information from the current homeowner.

When you do your planning in advance, you take a lot of the guesswork out of the home buying process.  And that will not only ease your stress level, it will also improve your chances of a successful outcome.  It’s just one more way that, with a little help from your Coldwell Banker representative, you’re another step closer to making today’s dream of home ownership into tomorrow’s reality. 

For more information please feel free to contact me anytime via email at or by contating me using the contact information on my website


Published Sunday, December 30, 2007 10:12 PM by Jordan Epstein


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