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4.PROVINCIALLANDTITLETRANSFERFEESaskatchewanandAlbertadonthavealandtransertaxbuttheydohavearelativelynominallandtitletranseree.AVERAGECOSTInSaskatchewanthelandtitletransereeonthattypical365000housewouldcometo1095.InAlbertaitwouldbeamere123.5.PROVINCIALMORTGAGEREGISTRATIONFEESaskatchewanandAlbertaalsoeachlevyamortgageregistrationontitleeeonpropertysalesthatinvolveamortgage.AVERAGECOSTFora300000mortgageexpecttopay110inAlbertaandinSaskatchewan150afatratethatwillcoveryouoruptoourmortgagetitles.6.MUNICIPALLANDTRANSFERTAXForTorontonianstherealestatetaxmanhitstwicewithCanadasonlymunicipallandtransertaxwhichispaidinadditiontotheprovincialtax.AVERAGECOSTTorontosaveragehomecostiswelloverthenationalaveragesoletsusea500000houseasourexample.Itwouldbesubjecttoanapproximate5725municipallandtransertaxinadditiontothe0.5to2provinciallandtransertax.CONDOCOSTSBepreparedforthesethreepotentialcostsofowningacondo.SPECIALASSESSMENTSEverysootenamajorrepairtothebuildingdwarsthecondoscollectivereserveundwhichyoupayintowithyourmonthlycondoees.Whenthishappensyoucanbeacedwithahetyextracharge.RENTYesrentIyouboughtooablueprintdontbesurprisediconstructiondelayspushyourmove-indatebyseveralmonths.Inthemeantimeunlessyoucanstaywithriendsoramilyyoullbepayingalandlord.OCCUPANCYFEESItcantakemonthsoracondocorporationtoregisteranewbuildingwiththemunicipality.Youcanmoveinbutyourenottechnicallytheowneroyourcondoyetsoyoullbechargedoccupancyeesalsoknownasphantomrent.BUDGETINGCHECKOUTGENWORTH.CA10GENWORTHCANADAFALL2O14