More Home Buying Headwinds for Alberta Buyers

Alberta decided to raise land title fees - SUBSTANTIALLY.   Previously if you bought a $500,000 house, the land titles fee (which was always tacked onto the lawyer fees, was around $595).  But after October 20, 2024, it will cost you $1,500.  So expect to pay around $2,650 to $3,000 for your legal fees if you live in Airdrie, Calgary, Okotoks, Chestermere or Cochrane.  Other areas of Alberta will be similar.  Oh and in case you forgot and you are a first time buyer, the bank wants to see this money in your bank account BEFORE you get approved for financing on your first home purchase.  So if saving $25,000 for a home wasn't hard enough, tack another $2,650 on to that.