If your down payment on a $600,000 purchase is under 20 percent, you also carry mortgage default insurance through CMHC, Sagen or Canada Guaranty, plus PST on that premium payable in cash at closing rather than added to the loan. That PST line is the one buyers at this price point most often forget to budget.
At $600,000 you are buying well above the citywide benchmark, which usually means a larger lot, a renovated or newer home, or a premium neighbourhood, so the improvements or land behind that premium are exactly what a hand-reviewed valuation should confirm before you commit.
Joel Dyck can break down the full closing picture for a purchase at this price. Get your hand-reviewed valuation from Joel Dyck.