Financial advice: hidden costs of home ownership in Canada [Video]

Thinking of making the switch from renting to home ownership?

While buying a home is often touted as a way to save on your cost of living, the true cost of ownership goes beyond your monthly mortgage. From closing costs and property taxes to ongoing maintenance and unexpected repairs, these additional costs can add up quickly.

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Below, I’ll break down some of the less obvious financial obligations of home ownership, so you can plan for the long-term costs and avoid unpleasant surprises.

More than a mortgage payment: what to expect as a new homeowner

As the Bank of Canada continues to cut interest rates, many prospective home buyers are looking to the near future as a good time to get into the market. If you’re buying a new house, one of the first expenses you’ll have to factor into the total cost of the …