Once you have determined factors such as what you can afford and how much your down payment will be, there are additional costs to consider when buying a home.

Appraisal Fee:  Mortgage lenders usually loan a percentage of the home's purchase price or appraised market price - the lower of the two. The cost of an appraisal is often the responsibility of the home buyer.

Application Fee: Will your lending institution apply additional charges to process the mortgage application? Some will. It's important to find out from your institution if they waive application fees or not.

Land Survey Fee:  Lenders may require a survey of the property you intend to purchase.  Or sometimes, lenders will accept an existing survey, but this depends on when it was completed.

Title Insurance:  Your Lender and/or your Lawyer will probably want you to purchase Title Insurance.  This insurance while not too expensive and is a one time fee, can prove to be invaluable if there are issues with the property.  Your Lender and your Lawyer will explain the benefits of title insurance to you.

Home Inspection Fee: Before finalizing an offer to purchase, it's important for homebuyers to have a home inspection completed. Lenders may also require a professional inspection to be completed.

Insurance: Several types of insurance may be required when buying a home. Mortgage lenders can require you to apply fire insurance, mortgage insurance, along with any additional/extended coverage insurance that exceeds the amount of any outstanding balance. Title insurance and life insurance may also apply in some cases.

Legal Fees: A lawyer will charge fees for any professional service that is involved in preparing the mortgage, searches, and title deeds. It is important to include this fee as a potential cost when buying.

Land Transfer Tax:  The buyer's lawyer is obligated to collect land transfer tax on the sale of most properties and remit to the government on your behalf.

Closing Adjustments: Adjustments need to be included on outstanding bills for the property purchased.   Typically, a seller has prepaid (property taxes, utilities, etc.) up to the closing date. 

The actual closing date is when the buyer starts paying for their portion of the costs associated to the property purchased.