The following is a summary of ongoing costs that may apply to your Fraser Valley Real Estate Purchase:

Property Tax.

A municipal tax that is due yearly and based on the assessed value of your property.

Strata Fees.

If you own in a strata (apartment/condo/townhome) complex or are part of a bare land strata there may be monthly or yearly fees to be paid to the Strata Corporation for management fees. These include on going common area maintenance (roof repair and exterior painting) and insurance, contingency funding for future repair/replacement of exterior siding or roof, snow removal, landscaping and utilities (where applicable).

Home Insurance.

Property owners should carry property insurance for single family homes and strata properties. While strata corporations carry insurance for common area property, it is the responsibility of the individual unit owner to carry insurance for the belongings in their respective unit.

Utilities and Services.

Hydro, gas, phone, internet and cable may be applicable costs borne by you.