Remembering start-up costs when buying a home

Just found your dream home? Congratulations! You've been approved for your mortgage and are happy with your monthly payments? Fantastic!

To avoid any bumps in the road on your way to homeownership, make sure you budget in the start-up costs you'll have to pay in a few weeks or months.

These costs amount to 3 to 5% of the property value. They include, among others, appraisal fees, notary fees, transfer fees, transfer tax, short-term renovations, moving and mail forwarding expenses, etc.

Use the following calculator to estimate your start-up costs: