Home Buyers Service Providers

Hidden Costs Every Home Buyer Needs to Know About

You’re all set to make an offer on a home you love…only to discover there are all kinds of hidden costs that weren’t included in the listing price. Understandably, these costs can be a dealbreaker for a home buyer. That’s why it’s important to prepare yourself for potential hidden costs when buying a home ahead of time.

Hidden Costs Every Home Buyer Needs to Know About

So, if you’re hoping to save yourself some nasty financial surprises down the road, don’t miss the rest of this post, where we break down some of the common (yet hidden) costs associated with home buying.

Home inspection fee

This isn’t necessarily a “hidden” fee, but it is one many new home buyers forget to factor in. 

Although a home inspection isn’t necessarily required, it’s almost always a good idea. During these inspections, a potential home buyer can find out about any potential issues that could cause them a major headache down the road. These inspections tend to cost between $300 and $1000. However, that’s a small investment compared to what it could cost you to unknowingly buy a home with, for example, faulty plumbing. 

(Home inspections are an important part of avoiding home buyer’s remorse. Read more about avoiding this feeling in this post)

Appraisal fees

Are you planning on getting a mortgage for your home? Most home buyers are. However, if you plan on going this route, there’s a particular fee worth noting that many people aren’t aware of. It’s known as the appraisal fee. 

Because the amount your lender is willing to give depends on the home’s appraised value, the home first needs to be appraised. So, this fee (typically between $275 and $500) covers that appraisal. 

Keep in mind, this fee isn’t a sure thing. Depending on arrangements between lenders, it’s often waived. Just be sure to find out ahead of time!

Land transfer tax

Are you a home buyer in Canada who doesn’t live in Alberta, Nunavut, Saskatchewan, or the Yukon? Then the land transfer tax is important to consider if you’re buying a home! The LTT (between 0.5% to 2.5% of the property value depending on your province) goes toward the province when you buy property. 

As this article from explains: 

“Many provinces use a multi-tiered system to calculate the amount of tax owed. On a $500,000 home in Ontario (but not Toronto), for example, 0.5% is paid on the first $55,000, 1% on the next $195,000, 1.5% on the next $150,000, and 2% on the amount above $400,000. That works out to $6,475.”


You’re probably planning on buying home insurance (even if it isn’t necessarily required). Still, there are a few different types of insurance each home buyer needs to make a note of when they’re preparing themselves for hidden costs that could come up.

Here are some of the types of insurance worth looking into:

  • Title insurance
  • Mortgage default insurance
  • Mortgage life insurance

(Before you go, don’t miss this post with more tips for simplifying the home buying process)

What Else Should Every Home Buyer Know?

These are just some of the hidden costs every home buyer needs to be aware of. It’s incredibly important to do your research and work with a team you trust during the home buying process to keep surprises to a minimum.

But in addition to these hidden costs, what else should every buyer know? That can help them ditch a lot of the stress that comes with home buying! From finding trusted service providers to streamlining documentation and simplifying communication, we’ve thought of it all. Click here to learn more about our unique platform and what it can do for you. 

Did you learn a lot about this post breaking down the hidden costs every home buyer needs to know? Here are three more posts to read next:

Lawyer Mortgage Broker Realtor Service Providers

6 Digital Strategies To Scale Your Real Estate Law Firm

There are hard won lessons in this pandemic as it continues to change dramatically law practices, especially real property law. 

It’s now a norm to choose different strategies to keep up with the challenges. Some had to take pauses, while others considered these crazy times as an opportunity to scale up.

Scaling Your Real Estate Law Firm in a Post-Pandemic Marketplace

The uncertainty sometimes causes stalling of activities like expansion plans that are put on hold.

But with new normal comes new market opportunities, especially in the digital scene. Taking advantage of these COVID enforced changes led real estate lawyers to look at how the internet can help. 

Digital transformation is where it’s at. Be visible online and optimize your services. Develop a brand and sell it to your prospective client. 

1. Dominate Your Local Search Presence

Stop waiting for the right time. Take the plunge, make your presence known online by Search Engine Optimization.

The organic strategy will cost less but is effective in generating new leads and attracting clients. Search algorithms are going to be your best friend. Focus on keywords that target specific types relevant to the real estate market. 

Hire an SEO professional and check on real estate law firm marketing strategies to see how it can help you scale up.

2. Amplify Your Website with Organized Information

It’s true: a well-balanced website is an essential strategy for digital success. 

Curate your website with information about your real estate law firm. Highlight the businesses you’re offering, like what property legal matters can you help your market with. This is conversion in the making. The referral you got from networking can confirm your credibility and authority in real estate law.

Topics are essential. You have made your website a mountain load of resources for them, so write topics that they will find vital, like:

  • Landlord and Tenant Disputes
  • Deed Preparation and Transfer
  • Commercial Purchases and Leases
  • Purchase and Sale Agreements
  • Boundary Disputes
  • Foreclosure and Eviction

3. Promote Your Real Estate Law Firm Digitally

Be a content master extraordinaire. 

Publish content that caters to frequently asked questions of property owners and those looking to be homeowners. Make a list of topics and subtopics about real estate law issues that potential clients in your area can relate to. 

Knowing your local market, the specific issues they’re struggling with is your key to digital marketing success.

4. Develop and Nurture Professional Relationships 

Now, how to hack client acquisition in the current times?

You see, your professional network is a treasure trove of powerful marketing tools. Focus on networking to grow your practice, whether with real estate agents or other lawyers practicing in different fields. It’s a win-win situation for the agents and lawyers in the real estate market because you can have the best referrals by reciprocation.

With the proper filtering of groups in these apps, you can establish your property and real estate law authority. At the same time, build further your online network.

5. Use Social Media as Your Professional Networking Tool

Don’t let your competitors eat you alive, don’t waste your time and pump up your social media platforms.

It’s a no-secret formula. Your social media channels serve as the face of your real estate law firm where your potential clients can best understand your brand and your business. The operative word in this marketing is social, and the name of the game is personalization. Consider these tools because they give clues on how you best market yourself -you have Facebook, Twitter, Instagram, LinkedIn, and Pinterest to capitalize.

Make it so you’ll be able to grow your community, your network and put you as an authority in real estate law. 

6. Use to Elevate your Digital Presence

Going through these can be stressful and overwhelming, but here’s the good news -you can go through all these with so much ease!

That’s Souqh for you. It’s your ultimate partner in building your business without the straining costs, time, and stress. No more skyrocketing fees, time-consuming processes, and overwhelming inducing strategies. When you use, you can access a streamlined and straightforward scale-up journey – all in one platform.

You’re just a click away from digitizing your law firm. Say yes and click here to book a demo.