It’s closing day on your new home, now what?

Buying a home is one of life’s milestone moments. Once you have chosen your new home and are in the process of buying, you should know that there are other costs over and above the cost of your home that you should be prepared for. A REALTOR® can walk you through:

LAND TRANSFER TAX: The land transfer tax is a one-time tax levied by your province when you purchase a property. The tax is based on a percentage of the purchase price of the property, and varies from province to province and from municipality to municipality. It can range from 0% to 1.5%.

ASSOCIATED LEGAL COSTS:  Legal costs cover your lawyer’s fees such as reviewing the terms of the offer; conducting a title search on the property; registering a new title; and obtaining relevant documents, such as surveys and evidence of liens on the property.

TITLE INSURANCE:  Purchasers may obtain title insurance policies. Title insurance companies are federally licensed and regulated and, like all other insurances companies, must have on deposit substantial reserves to protect policy holders. Some of the benefits a title insurance policy offers include: Protection against survey problems, e.g. boundaries, encroachments and undisclosed rights of way; Protection against building by-law and zoning infractions; A duty to defend you against title-related law suits. Your lawyer can provide you with more information about coverage and cost.

WHAT OTHER COSTS CAN YOU EXPECT? Service charges from utility companies for hook-ups on electricity, gas, internet and telephone services,  appraisal fees , moving costs , storage costs if you must leave your current residence before you are able to move into your new home, furniture and appliances.

For more information on on how to find a REALTOR® in Nova Scotia, visit

The Nova Scotia Association of REALTORS® represents more than 1,500 brokers, salespeople and affiliate members throughout the province. NSAR serves its members through a wide variety of educational programs, publications and special services. REALTOR® is a trademark, which identifies real estate professionals who are members of The Canadian Real Estate Association and, as such, subscribe to a high standard of professional service and a strict code of ethics.