Depending on your mortgage type and financial situation, you'll need to provide a down payment ranging from 5% to 20% of the home's purchase price. A larger down payment can reduce your monthly mortgage payments and may eliminate the need for mortgage insurance.

These encompass various fees and expenses associated with finalizing the property purchase (1.5-4% of Purchase Price), including:

• Legal Fees

• Title Insurance

• Home Inspection

• Appraisal Fee

If your down payment is less than 20%, you'll be required to obtain mortgage loan insurance, which protects the lender in case of default. The premium is calculated as a percentage of the loan and can be added to your mortgage payments.

In Calgary, property taxes are levied annually based on the assessed value of your property. Upon purchase, you may need to reimburse the seller for any prepaid taxes or settle outstanding amounts.

Lenders typically require proof of home insurance before approving a mortgage. The cost varies based on coverage and property specifics but is essential for protecting your investment.

Costs associated with moving can vary depending on factors such as distance, volume of belongings, and whether you hire professional movers or opt for a DIY approach.

Setting up or transferring utilities like electricity, water, gas, and internet services may involve connection fees or deposits.

Even move-in-ready homes might require minor fixes or personal touches. It's prudent to budget for unforeseen repairs or desired upgrades