• Last Updated:
  • Jul 31st, 2012 10:28 pm
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[OP]
Newbie
Jan 10, 2012
89 posts
12 upvotes
Ottawa

Home ownership cost

Hi,

We are planning to buy our first home and I am a little worried about the monthly costs other than the mortgage. We are looking for an almost new (less than 5 years old) detached house in the range of 450k or lower in Kanata (Ottawa west) area. Appreciate it if people can help me to figure out a rough estimate of expenses for utilities, home insurance, maintenance, property tax, and anything else I might be missing.

Thanks
1 reply
Deal Addict
Jul 11, 2010
1142 posts
219 upvotes
Toronto
One way is to go to some open houses for homes in the price range you are looking at and pick up feature sheets. They will have property taxes listed. Ask the salesperson for a rough cost for the utilities or to get them for you. A roof is a big ticket item to repair. When you put an offer in to purchase have a house inspection done. Ask the inspector for approximate costs for anything he/she might see as needing repairs within the next 5 years. House insurance is difficult to estimate as it depends on age, location, size etc
Doug Boswell
intelliMortgage Inc. Brokerage #12326
FSCO #MO09002332

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