There are many costs associated with buying a home that should be taken into account when planning your purchase. Aside from costs for renovation, moving and appliances, there are closing costs associated with the purchase. In addition to the down payment, some of the main costs are the CMHC insurance, appraisal fee, title insurance fee, property insurance, legal fees, land transfer taxes, home inspection fee and property taxes. Depending on whether the home is a resale home or a new home, these costs could be anywhere between 1.5% and 3% of the purchase value of the home (excluding down payment).