5 Hidden Costs Buyers Forget When Purchasing a Home

Buying a home is exciting—but many buyers focus so much on the down payment that they overlook additional costs that can quickly add up. Being prepared for these expenses can make your experience much smoother and stress-free.

1. Insurance Beyond the Basics
Most buyers plan for home insurance, but there are other policies that often get missed—like title insurance or mortgage insurance. These can be required and add to your overall costs, so it’s important to factor them in early.

2. Home Inspection Costs
A home inspection is one of the smartest investments you can make, helping uncover potential issues before you finalize your purchase. While optional, it’s highly recommended—and it’s an upfront cost buyers sometimes forget to budget for.

3. Taxes on Your Purchase
Depending on the property, taxes like GST/HST (especially on new builds) or land transfer tax can significantly impact your total cost. These aren’t always top of mind but can add thousands to your closing expenses.

4. Legal & Closing Fees
Working with a real estate lawyer is essential to finalize your purchase. Legal fees, title searches, and other closing costs can add up quickly—so it’s important to leave room in your budget for them.

5. Moving & Setup Costs
After closing, there are still expenses to handle—like movers, utility hookups, and initial setup costs. These smaller items are often overlooked but can easily add hundreds or even thousands of dollars.

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1275 BENTLEY Drive Unit #106, London
List Price:  $272,500.00
2 Bedrooms, 1 Bathroom, 987 Sq Ft

Condo Fee $365/month

Virtual Tour:
https://youriguide.com/106_1275_bentley_dr_london_on/

EXCEPTIONAL 2 BEDROOM RENOVATED CONDO !!! . No detail has been left unturned ! Calling all investors, first time home buyers, small families & downsizers alike ! Over $60,000 spent on this condo & all in May /June 2026; UPGRADES ; Stainless steel Fridge, Dishwasher, Stove, Kitchen cupboards, quartz countertops, rangehood, vinyl plank flooring , doors, light fixtures, faucets, electrical outlets, light switches , freshly painted throughout including ceiling, toilet, bath and much more. Currently vacant and with all the new modern finishes all you have to do is move in or lease it to your new tenants. 987 Square feet of living space! This condo boasts a bright, open-concept living/dining area with large windows, a spacious eat-in Kitchen, 4-piece bathroom, generous sized bedrooms with large closets , pantry & storage room with shelves. Conveniently close to Fanshawe College, Stronach Arena & Community Centre, shopping, schools, parks, public transit, and just minutes to the 401, London Airport, and downtown .Gas heated and the condo fee of $365 per month including water is substantially lower than other condos in the area. This condo checks off all the boxes !

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Ryan Moore, Sales Rep 519-242-8854
Keller Williams Innovation

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