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The Real Costs of Buying Your Kamloops Home
For many of us, buying our own home in Kamloops is a dream come true.  It is the reward for years of saving, planning, and searching for the perfect floorplan and neighborhood.  As you plan for this major purchase, it is easy to focus on getting your down payment together and budgeting for monthly mortgages. There are other costs, however, that catches many people by surprise and sometimes raises the total cost of the home by thousands of dollars. Legal fees, inspections, insurance, and appraisals are just a few costs that most home buyers have to pay, but many fail to plan for.  “Before purchasing a new home, we recommend you take some time to understand and plan for those expenditures that go beyond the purchase price of the home,” explains Tim Bzowey, vice president, Home and Auto, RBC Insurance. “By doing this, you can budget for the move and not be blindsided by additional costs.”
When purchasing a home, there are many costs to consider.  Here are some of the most common:
• Mortgage loan insurance is required if your down payment is less than 20 percent of the purchase price. This is typically added to your monthly mortgage payment.  ... more

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