What Buyers Need to Budget for Beyond the Down Payment

Buying a home in Calgary is an exciting step—but if you’re only budgeting for the down payment, you might be in for a surprise. Many first-time (and even repeat) buyers overlook key expenses that come with a real estate transaction, which can quickly add up and create last-minute stress.

Here’s what you need to know about the hidden costs of buying a home in Calgary and how to budget smart.

🧾 1. Legal Fees

When you buy a property in Alberta, you’ll need a real estate lawyer to handle the legal paperwork, review title documents, and ensure the property is transferred properly. Legal fees in Calgary typically range from $1,000 to $1,800, depending on the complexity of the transaction.

✅ Pro Tip:

Ask your REALTOR® for trusted lawyer referrals who specialize in real estate—some even offer flat-rate pricing for standard transactions.

🕵️ 2. Home Inspection

A home inspection helps you uncover any hidden issues with the property. This is a crucial step, especially for resale homes. Expect to pay $450–$650+ depending on the size and type of property.

If you’re buying an acreage near Calgary, you may also need specialized inspections (like septic or well testing), which are additional costs.

📋 3. Appraisal (If Required)

If you're getting a mortgage, your lender may require an independent appraisal to confirm the home’s market value. This usually costs between $300–$500 and is often paid by the buyer unless your lender covers it.

📄 4. Title Insurance or Real Property Report (RPR)

In Alberta, sellers are usually expected to provide an up-to-date Real Property Report with municipal compliance, but in hot markets, many offer title insurance instead. If the seller doesn’t provide either, you may need to cover the cost:

• Title insurance: $200–$350

• RPR with compliance: $800–$1,200+

✅ Ask your agent:

“Will I be responsible for the RPR or title insurance in this deal?” It’s a negotiable term in most purchase contracts.

⚡ 5. Utility Hookups & Moving Costs

Once you’ve got the keys, there are still costs to cover:

• Setting up electricity, gas, internet, water

• Moving services or truck rental

• Potential appliance upgrades or cleaning fees

It’s smart to budget $500–$2,000 for these post-possession essentials.

🏡 Buying a Home? Let’s Make Sure You’re Budget-Ready

As a Calgary-based REALTOR®, I help my clients prepare for every part of the buying process—no surprises, no stress. Want a full checklist of these hidden costs and how to plan for them?

📩 DM me “COSTS” and I’ll send you my free Buyer Budget Breakdown Guide.

Let’s get you into your next home with confidence and clarity.

Kristen Edmunds is a Calgary-area REALTOR® and Associate Broker with KIC Realty, specializing in acreages, luxury homes, and smart buy/sell strategies. With expertise in rural properties (water wells, septic, equestrian facilities) and a client-obsessed approach, Kristen helps buyers and sellers achieve their real estate goals with confidence and ease.

Buying your first home is exciting—but if you’re not careful, it can also be overwhelming and expensive. I’ve helped hundreds of first-time buyers navigate the Calgary market, and I see the same mistakes come up again and again.

If you’re starting your home buying journey, here are three common mistakes to avoid—and how to get it right the first time.

❌ Mistake #1: Falling for the Wrong Home Emotionally

That perfect kitchen or dreamy backyard might steal your heart—but don’t forget to look deeper.

What to do instead:

• Check resale value in that neighborhood

• Evaluate lifestyle fit for 3–5 years

• Review traffic, commute, and school zones

❌ Mistake #2: Skipping Mortgage Pre-Approval

Without pre-approval, you risk falling in love with homes you can’t afford—or losing a great deal while waiting on paperwork.

What to do instead:

• Get pre-approved before you start viewing

• Know your max purchase price, but shop under budget

• Work with a trusted mortgage broker (ask me—I have a list!)

❌ Mistake #3: Underestimating Closing Costs

First-time buyers often budget for the down payment—but forget about the rest.

What to do instead:

• Budget 1.5–2% of the purchase price for closing costs

• Account for home inspection, legal fees, title insurance, tax adjustments, and moving expenses

💡 Bonus Tip: Work With a Buyer’s Agent Who Specializes in First-Time Buyers

Navigating offers, conditions, and market trends is easier with someone who’s got your back.

📩 Ready to Buy Your First Home in Calgary?

I’d love to help you skip the stress and buy with confidence.

📲 DM me “FIRST HOME” or click here to contact me and I’ll send you my free Calgary Buyer Guide tailored for first-timers.

Kristen Edmunds is a Calgary-area REALTOR® and Associate Broker with KIC Realty, specializing in acreages, luxury homes, and smart buy/sell strategies. With expertise in rural properties (water wells, septic, equestrian facilities) and a client-obsessed approach, Kristen helps buyers and sellers achieve their real estate goals with confidence and ease.