09/08/2026
First-time home buyers in Canada, donβt buy a condo before knowing this! π‘π¨π¦
Got your keys but your condo hasnβt officially closed yet?
The monthly payment you make during this period is called an Occupancy Fee.
It usually includes:
β’ Interest
β’ Property Tax
β’ Condo Fees
And remember β occupancy fee is NOT your mortgage payment.
Your mortgage starts after the final closing.
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