closing costs

Budgeting for a home purchase ensures that you’ll be able to afford to pay for costs such as the down payment and monthly mortgage payments, but there are a number of other significant costs that many buyers often overlook. These include closing costs (land transfer tax, adjustments on closing, lawyer fees) and additional monthly costs (property tax, insurance, utilities, maintenance). All of these costs need to be taken into account so that you truly know if you can afford the home that you’re looking for.