The Hidden Costs of Buying a Home in Edmonton (That No One Talks About)
The Hidden Costs of Buying a Home in Edmonton
By Ibrahim AlGendy | The Counselor
So you’re ready to buy a home. You’ve budgeted for your down payment, maybe even your furniture. But what about everything else?
In Edmonton — just like anywhere else — there are hidden costs that can sneak up and stress you out if you’re not ready. Let’s break them down.
1. Legal Fees & Title Transfer Costs
Most buyers underestimate how much a real estate lawyer will cost. Between title review, disbursements, and registration, expect $1,200–$1,800.
2. Home Inspection
This isn’t just “optional” — it’s smart. A quality home inspection can save you thousands. In Edmonton, budget $400–$600.
3. Property Taxes & Adjustments
You might owe a portion of annual taxes upfront at closing — depending on possession date. Your lawyer will prorate these.
4. CMHC Insurance (If Less Than 20% Down)
Most first-time buyers don’t have 20% down, which means CMHC fees get added to your mortgage — sometimes thousands.
5. Moving, Utility Setup, and Incidentals
Boxes, trucks, utility deposits, and “quick trips” to Home Depot — they add up. Give yourself a buffer of at least $1,000–$2,000.
Final Counsel: Know what’s coming. I’ll help you plan for the expected and protect you from the unexpected.
— The Counselor
