We’re a family of three planning to grow. However, the combined provincial and city land transfer fees ($40K-$60K) make purchasing in-town property extremely challenging.
In my experience, managing these high costs begins with a broad financial strategy that looks beyond the initial purchase. I found that exploring areas slightly removed from the urban center, while still well-connected to essential services and employment opportunities, significantly eases cost pressure. Additionally, careful financial planning that includes consultations with knowledgeable real estate professionals is crucial. Understanding available government incentives and programs for first-time buyers or young families proved very useful and helped me manage the unexpected expenses often encountered in such markets.