The True Cost of Buying a House in Edmonton: An In-Depth Breakdown

Buying a home in Edmonton is an exciting milestone, but it’s easy to underestimate the full scope of costs involved. Beyond the price tag of the house itself, there are a host of additional expenses—some obvious, some sneaky—that can add up quickly. If you’re planning a move to Alberta’s capital, here’s an in-depth look at what you’ll need to budget for, from moving trucks to utility hook-ups and everything in between.

1. The Home Purchase Price & Down Payment

This is your starting point. In Edmonton, the average home price hovers around $400,000, though condos and townhomes can be much less. Most buyers put down at least 5% as a down payment, but 20% or more is ideal to avoid mortgage insurance. For a $400,000 home, that’s $20,000–$80,000 upfront.

2. Mortgage Insurance, Legal Fees & Title Costs

• CMHC Mortgage Insurance: Required if your down payment is less than 20%. This can cost 2.8%–4% of your loan amount, added to your mortgage.
• Legal Fees (Real Estate Lawyer): Expect to pay $1,000–$2,500 for a real estate lawyer to handle paperwork, title transfer, and ensure everything is above board. This is a must-have for all buyers in Alberta.
• Title Insurance: Optional but recommended, usually $250–$400.

3. Home Inspection & Appraisal

• Home Inspection: $400–$600 for peace of mind and to uncover hidden issues. Every buyer should invest in a professional inspection before finalizing the purchase.
• Appraisal Fee: Sometimes required by your lender, typically $300–$500.

4. Land Transfer Tax (Registration Fee)

Alberta doesn’t have a traditional land transfer tax, but you’ll pay a land title registration fee. For a $400,000 home, expect around $400–$600.

5. Moving Costs

• Professional Movers: $1,000–$2,500 depending on distance and volume.
• DIY Moving Truck: $200–$500 for rental, plus fuel and insurance.
• Packing Supplies: $100–$300 for boxes, tape, and bubble wrap.

6. Furniture & Appliances

Furnishing a new space can be surprisingly pricey. Budget $2,000–$10,000+ depending on what you need, whether you’re starting from scratch or just upgrading a few pieces. Don’t forget essentials like a fridge, washer, dryer, and window coverings!

7. Condo Fees (If Applicable)

If you’re buying a condo or townhouse, monthly condo fees cover building maintenance, insurance, amenities, and sometimes utilities. In Edmonton, these range from $250–$600/month. Always check what’s included—some cover heat and water, others are bare-bones.

8. Utility Set-Up Fees

• Electricity & Gas: $50–$100 per service for account activation.
• Water & Sewer: $30–$60 to set up.
• Internet & Cable: $50–$150 for installation, plus monthly charges.

9. Ongoing Monthly Costs

• Property Taxes: Roughly $2,500–$4,500/year for an average home.
• Home Insurance: $900–$1,500/year, depending on coverage.
• Utilities: $200–$400/month for electricity, gas, water, and waste.

10. Unexpected & Miscellaneous Expenses

It’s wise to set aside an emergency fund for surprises—think repairs, landscaping, or a new hot water tank. A buffer of $2,000–$5,000 can bring peace of mind.

Final Thoughts

Buying a house in Edmonton is more than just securing a mortgage. By planning for these extra costs, you’ll avoid sticker shock and start your new chapter on solid financial footing. Before you sign on the dotted line, make sure you’ve crunched the numbers—your future self will thank you!

Ready to make your move? Connect with a local Edmonton real estate expert to get personalized advice and find your dream home.