If you’re thinking of buying home being a first time buyers or your next one is an excellent idea to make a plan and think about the various costs involved in buying a house in Calgary.

The closing costs you pay for are costs you’ll have to pay out of your own pocket as well as the sum required to complete the purchase of your new home.

The best time to go through the costs of ending your mortgage before you begin searching for a property to purchase. Costs associated with closing should be an integral part of the pre-approval process because they are just as important as saving your own amount.

Here’s a list of the things that can be costly:

Real Estate Agent

As a potential buyer, it is the best choice to consult an agent for Real Estate. There is no cost for the buyer, but the seller is accountable for paying the commission to both the buyer and the seller. The discount brokerages currently reducing the commissions of properties by offering a “no commission” option, however, buyers could encounter issues with this strategy since they will have to cover the variation in the amount of the commission for a Real Estate Agent is. Sellers may face issues while selling home through discount brokerages because agents may not wish to showcase the property when they do not receive all commission. It’s unethical for any real estate agent to refuse to present a property due to these factors, however, in a down market, there is a possibility to consider.

Appraisal or Home Inspection

A home inspection involves hiring a professional to evaluate the property’s condition to ensure that there are no unexpected issues. When you have made a conditional offer, the home inspection is completed.

An appraisal involves hiring a professional to appraise the property and compare it with similar properties recently sold in the region. You will pay for the home inspection. High-ratio insurance can cover the cost of the appraisal. Other times, you may be responsible depending on your circumstances.


Before any financial institution lends money to you, they will need to verify that you have home/property insurance.

You might consider life insurance, mortgage insurance, and disability insurance to protect you against unforeseen events.

Moving expenses

Do not underestimate the costs of moving your belongings. Sometimes, it is worth hiring someone to help you with the moving process.


It can be more time-consuming than expensive to hook up new services to your property. If you are moving to a new area or have never paid utilities before, you may need to deposit money for services.

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