Whether you’re purchasing a starter home or adding an investment property to your portfolio, buying a home is a thrilling time in your life. And it’s easy to get swept up in that excitement and forget about the additional fees that need to be covered before you get the keys. Here’s 3 of the biggest costs you should plan for when buying... Land Transfer Tax - In Barrie, this is usually calculated on a scale of up to 2% of the home’s value, and can add a few thousand dollars to your purchase. Mortgage Costs - Depending on your lender or bank, there might be an additional set up fee to establish your new mortgage, so it’s best to hold back some money in case this applies to you. Legal Costs - Probably the biggest of your closing costs, your lawyer will conduct a series of searches and registrations to ensure there are no legal impediments to you taking ownership.

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