In addition to having a sufficient down payment, you will need to ensure you have enough savings to cover the additional expenses to complete the purchase (lawyer/notary fees, property transfer tax and disbursements).
As a guideline, expect closing costs to about 2% to 2.5% of the purchase price, though this can vary greatly, especially if HST is applied. You may also need to budget for extra costs such as appliances, utility hook ups, renovations, moving fees and more.
Buying a home in Vancouver may be one of the biggest decisions you will make, but it can also be one of your best investments! We here at weSellvancouver.ca are here to help you every step of the way and answer all your questions.
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