What does it cost to sell and buy a smaller home in Calgary?
Kylian Pomares on the two sets of costs when you downsize in Calgary: selling costs, Land Titles and legal fees on the purchase, and moving and clear-out help.
Transcript
The sellers who walk away happiest all ask this first: what does it cost to sell your house and buy a smaller one in Calgary? There are two sets of costs.
Selling: the commission plus GST, legal fees, paying out a mortgage and prepayment penalty, and a Real Property Report if you need a new one. Buying: there's no land transfer tax in Alberta. Land Title fees are $50 plus $5 for every $5,000 of value, so that's about $550 on a $500,000 home, plus legal fees and adjustments.
Then add moving, and any help with sorting and clearing out. Don't leave that out of the budget. My net proceeds calculator shows what you'd walk away with, and the link is below.
Read the full guide: DownsizingWhat would I walk away with? (calculator)
Also on YouTube.
