There are several costs to consider. Some of the expenses related to buying a home are one-time costs, while others are continuing costs.
Your largest cost at the beginning is your down payment. As a first time buyer, this would likely represent 5 - 10% of the purchase price.
However, you should be prepared to pay for additional costs, such as:
Legal Fees & Disbursements
GST and PST (if applicable)
Property or Land Transfer Tax
Adjustments (reimbursed to the vendor)
Interest
Property Taxes
Utility Payments
Strata or Condominium Fees
Estoppel certificate fee
Survey Fee
Home Inspection Fee
Water quality and quantity certificate
Appraisal Fee
Mortgage broker's fee (if applicable)
Mortgage Loan Insurance Premium (if only 5% down)
Mortgage Loan Insurance Application Fee (if only 5% down)
Moving Expenses
Renovations and repairs
Furniture, paint, carpeting, window coverings, etc.
Service and Utility Hook-up Fees
Property/Condominium Insurance
Mortgage Application Fee
Deed and/or Mortgage Registration Fee
Additionally, once you have purchased your home, you will incur regular expenses on a monthly, quarterly or yearly basis. Some of these costs include:
Mortgage Payment
Water and/or Sewer Payments
Electricity and Gas Services
Cable and Telephone Services
Property Taxes
Strata or Condo Fees
Repair/maintenance Expenses
Homeowner's Insurance