We're a family looking to upgrade from a condo to a house, but steep combined land transfer fees, reaching between $40k-$60k, make it challenging for many to move.
I wonder if some families are opting to bundle fees into their mortgage or seek first-time buyer incentives. Have you or anyone else tried alternative financing methods that might ease the double fee load? Would love to learn about practical experiences!
During my recent home purchase, I found dealing with the double land transfer fees a significant challenge. Although bundling fees into the mortgage is mentioned, I opted instead to renegotiate my offer and secured an arrangement where partial fees were deferred. In addition to that, exploring local government relief programs proved beneficial, as many regions offer cash assistance or tax rebates for homebuyers. Diligence when reviewing lender terms and consulting with financial advisors before finalizing any deal greatly helped in managing costs without straining our budget.