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.
