If you are the first time buyer of a new home through builder, you should know the closing time can be change by builder depend on the progress of work. There are lots of factors involve in the closing at a certain given time by builder and most importantly is the weather condition in Ontario. Buying a new home in Toronto or new condo in Milton area or in any part of GTA and surrounding area there are lots of similarities while booking through different builder. New home buyer should prepare for the extension request by builder so keep your plan flexible especially at the first closing date.
There are certain fees also involve at the time of closing which is called closing cost. It’s depend either your are buying a new condo or new house and also the value of the new property as well. Closing cost ranging from 1.5%-3.5% of selling price, that include legal and administrative cost you will need to pay when your new property closes. In addition to that there are some other fees also include in closing cost such as Land Transfer Tax.
- Title Insurance
- CMHC Insurance
- Property Insurance
- Property Taxes