What extra expenses can I expect to encounter?

These costs vary. There are a number of common extra expenses.

• Land transfer tax (a sales tax on property)
  
• Mortgage broker's fee (as much as one per cent on the principal)
  
• Appraisal fee
  
• Surveying costs
  
• Mortgage Insurance premiums
  
• Mortgage rate adjustment (in case mortgage rates rise)
  
• Reimbursement to seller of any unused portion of prepaid property taxes or utility bills
  
• Legal fees
  
• Realtor fees