Rental Property Purchase: If you are buying a tenanted property, any prepaid rents will be accounted for as part of the closing process. If the seller has collected the last months rent, which is standard, you will be credited with that sum on closing.

Rural / Recreational Properties: There are a number of issues that must be canvassed by buyers of rural/recreational properties. They include water quality and quantity, the condition of the septic system, road access, and availability and cost of municipal services (e.g. garbage collection, schools, buses, road maintenance). All such issues need to be investigated fully at the time of purchase. Some of these investigations will cost money. For example, you may be required to pay fee for the water quality and quantity tests. Also, if you wish to have a professional assessment of the condition of the septic system, there will be a fee. You will want to consider all of these issues at the time you are considering the purchase.

New Home Purchases: The biggest extra cost that attaches to new home purchases is GST. GST is a 7% sales tax imposed by federal government on new homes, as well as most other goods and services. It is not applied to purchases of resale ("used") homes. Many builders include the GST in the purchase price. Make sure that the issue of who pays the GST is resolved in the Agreement of Purchase & Sale. Read your contract carefully. There may be additional costs for a wide variety of items, including paving of the driveway, landscaping, ect. On some new home purchases, the bill for these "extras" can be thousands of dollars.