How to Budget for Your First Home
Your mortgage payment is only part of what it costs to own a home in Orangeville or Erin. Here’s the full picture.
One-time closing costs
Land transfer tax, legal fees, home inspection, and a title insurance policy typically add up to 1.5–4% of the purchase price.
Ongoing costs
Property taxes, home insurance, and utilities vary meaningfully between an Orangeville subdivision and a rural Erin property on well and septic — ask before you fall in love with a listing.
A buffer for surprises
Set aside funds for the first year of ownership — older homes in this area often need a furnace, roof, or septic system addressed sooner than buyers expect.