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 =
$1687.07
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
