Additionnal charges when buying a property
Pretsduquebec.com

When buying a property, the mortgage payment is not the only cost to be considered. You have to take into account all other related fees which represent as a whole between 3% and 4% of the purchase cost on average. For budgeting purposes, you should consider the following points:

Mortgage loan insurance premium
Any mortgage loan with a down payment amount which is lower than 25% of the purchase price has to be covered by an insurance against payment default. These fees can be added to the mortgage loan amount or be paid entirely when closing the loan. The premium amount varies between 1,25% and 3,75% of the loan amount, depending on the down payment .

PST
At the notary, you will have to pay an additional 9% of provincial sales tax on the insurance premium on the mortgage loan

Appraisal fees
Each mortgage lender requires an expert evaluation in order to determine the market value of the property and thus confirm that the allocated loan amount is adequate. Nevertheless, in most cases the lender will absorb the cost of this fee (provided the loan is closed).

Land survey fee
The lender usually demands a recent survey for the property

Home inspection fee
Contrary to the land survey, the inspection is usually not a lender's request. However, a report from a construction expert will unveil the actual condition the property is in.

Legal fees
In essence, these are the notary fees. (title search, establishment and recording of both act of sale and act of loan)

Land transfer tax (Welcome tax)
The amount of this tax will be calculated based upon the purchase or city evaluation amount, whichever is the highest.

0.50% of the first 50 000 $
1% 50 000 $ to 250 000 $
1,5% beyond

House insurance
All the lenders demand that your property be insured against fire damages in order to guarantee their mortgage

Moving expenses
These fees vary considerably, in particular depending on the hiring of a professional moving company or not.

Other fees
-City and school tax adjustments
-Mortgage loan interest rate adjustment
-The GST and PST do apply to the purchase of a newly built property
-Renovations (painting, fixtures, etc.)
-Telephone, electricity and cable hook-up fees
-Change of address expenses
-Mortgage life insurance
-Heating costs
-Condominium fees (if applicable)