We start off our weekend roundup with two one-bedroom condos (actually the Maple Crossing one is a 1-bed plus den – BONUS!).
Here’s how the numbers break down… the mortgage with 5% down is about $1,000/month for a $229k purchase, then you’ve got taxes for a little less than $150/month, then heat and hydro is extra, so let’s call that $100/month, and finally condo fees are $183/month. So it looks like somewhere between $1400-1450. There are still some ways to do a “zero down” mortgage, provided you have about $4000 in closing costs set aside, but if you want better mortgage terms you put your 5% down, and the total you’d need for downpayment and closing costs is right around $16,000. That just seems like such a better option than rent, at least to me.
You can learn more about the costs of buying, the steps to take and lots more by coming to this weekend’s Buyer Class – just click this link to register. In this episode, we’ll talk about unliveable living spaces, plus we’ll see “cut and pasted” fires and digitally altered driveways. Cooper is the pick of the day.