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First Time Buyers; Monthly Costs

Sample Monthly Costs when purchasing a Condo/Town House

Please see the sample below of monthly costs you can expect when buying a condo. Plan on a "minimum" monthly cost of $1400 to purchase any property!

Also: supplied 2 links to Canadian Mortgage calculators so you can do your own calculations. Consult your bank or mortgage broker to get pre-approved for a mortgage and for exact figures.

Sample Monthly Cost calculations based on:
- 0% Down
- $210,000 Mortgage
- 30 Years Amortization
- 5.6% Interest Rate

Mortgage = $1197.07 (based on info above)
Taxes = $2040 / 12 = $170 (depends on property)
Maintenance Fees = $320 (depends on property)
Total = $1197.07 + $170 + $320 =

Mortgage Affordability Calculator
Find out maximum mortgage you qualify for!

Mortgage Calculator
Calculate monthly payments for a mortgage or calculate Land Transfer Tax

Hope you found this info helpful!
Take care

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