August 23, 2013
Housing Affordability - the Costs Associated with Purchasing and Maintaining a Home
A recent article in the Globe & Mail discusses the various costs to think about when buying and maintaining a home. There is more than just the mortgage payment, however, this is the largest expense. If you're a first time home buyer then the whole experience is new. The rule of thumb is to have 1.5 to 2.5% for closing costs above and beyond your down payment.
But there are other ongoing or monthly costs to consider as well.
Click on the link below for the full article to see what these ongoing costs are and if they fit within your budget to determine if you're ready to buy your home, especially if it's your first!
If you have any questions or would like to go through some mortgage or budget calculations please contact me at anytime.