You have found the home of your dreams, and you and your Realtor® have negotiated an attractive price. Before you sign on the dotted line, it is important to understand the ancillary costs inherent in completing the purchase. Below are the key fees to be aware of…

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• Home Inspection Fee: This is a service I STRONGLY encourage my clients to avail themselves of. Home inspections usually cost between $400-$600 plus hst. Your Realtor®can help point you to reputable inspectors.
   

• Legal Fees: You will need a lawyer to complete your home purchase. Legal fees vary from lawyer to lawyer but on average it is safe to allow $800 - $1000 for legal fees and another $300 to $400 for disbursements such as registering the deed etc. The legal fees for a purchase of a $250,000 home would be about $1000 for the lawyer and $300 for disbursements for a total of $1300. Paid on closing.
   

• Well & Septic Inspections/Tests: If you are considering buying a property with a well and septic system, the combined inspections will cost between $1,000 and $1,500. These tests are optional, but they can save you over $10,000 if, for example, the septic system is compromised.
   

• Deed Transfer Tax: The municipality the home is located will charge a fee to transfer the deed into your name. This fee is 1.5 % of the purchase price of the home. For example, in a $300,000 purchase, you would pay a $4,500 deed transfer tax. This tax is paid on closing.
   

• Property Tax Adjustment: The sellers of the home you are buying have paid property taxes to the municipality. These taxes are paid twice a year and are paid in advance. You will be required to reimburse them for the taxes they have prepaid. For example, if the seller has paid $2000 for 6 months starting on April 1st and you were closing June 30th, you would be required to pay the owner half of the taxes prepaid or $1,000. Count on 3 months' taxes, and you should be safe.
   

• Fuel Adjustment: If the home you are buying has oil heating or a propane fireplace you will be required to pay the seller for a full tank of fuel on closing. The owner will fill the tank(s) the day before closing. You will pay this at your lawyer's office on the closing date. The cost for this will vary. You should budget $800-$1000 for a full tank of oil and $400-$500 for full tank of propane.
   

• Optional Radon Test - Radon gas is a cancer-causing gas that is found in some homes in the province It usually comes in the house through the basement floors or walls. You can buy a test kit for about $60 and test yourself or you can hire a professional testing company to do it for between $200 and $300. If a property has higher than recommended levels of radon remediation is between $1,500 and $2000. Here is a website outlining Radon levels in Nova Scotia
   

• Other Costs: Movers, power/phone/internet/television.