How much does it cost to buy a home in Canada?

Using CMHC (Canada Mortgage & Housing Corp) anyone can buy a home in Canada with just 5% down payment. (To avoid CMHC fees, they would need 20% down) So a $350,000 house would require a down payment of $17,500, which must come in the form of a cash down payment OR via a GIFT from parents or other sources. In addition to the down payment, home buyers needs to budget for closing costs, which include legal fees, property taxes, land titles taxes, etc. These are often tied to home’s value and add up to an estimated 2.5% to 3% of price of the home. So, a buyer needs to have approx. 7.5% to 8% of the total cost of the house (or condo) in savings (or GIFT) when embarking on the journey to purchase a home.

What eco friendly means?

Eco friendly quite literally means 'friendly to the natural environment and eco-system'. It refers to sustainable practices which reduce the use of raw materials, reduce carbon emissions. practices that help conserve resources like water, natural gas and. Eco-friendly products and practices prevent contributions to air, water and land pollution.

Are eco friendly products more expensive?

Unfortunately at this time the short answer appears to be YES. Dutch consulting firm Kearny completed a study which shows that eco friendly and sustainable products are approx. 80% more expensive. Anyone shopping for groceries already knows that 'organic' foods are substantially more expensive than their non-organic counterparts. Hopefully, as these sustainable companies, products and foods become more common and acceptable, their price will come down.

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