Affordability Guide

There are two types of costs in buying a home - the initial amount you will need for your purchase and the ongoing costs of paying back your mortgage along with monthly operating costs.

Here are some answers to your affordability questions;

How Much Home Can I Afford?
There are two types of costs in buying a home - the initial amount you will need for your purchase and the ongoing costs of paying back your mortgage along with monthly operating costs.

The largest one-time cost is the down payment. It usually represents 5-10% of the total price of the property.

Typical One-time Expenses:
* Mortgage application and appraisal fee, if applicable
* Property inspection (optional), due at time of inspection
* Legal fees, due at the time of closing
* Legal disbursements, due at the time of closing
* Property survey (sometimes provided by seller), due at the time of closing
* Land transfer tax, due at the time of closing
* Mortgage interest adjustment (if applicable), due at the time of closing
* Home and property insurance, at closing and ongoing
* Moving expenses, due on the date of move

Typical Monthly Expenses:
* Mortgage payments
* Maintenance (this could be condominium fees or allocated maintenance fees)
* Property and content insurance
* Property taxes
* Utilities

Learn More At Our FREE Home Buyer Workshops

Home Buyer Workshops

What if we told you the smartest investment you would ever make during your lifetime would be to own a home? What if we told you the way in which you buy your homes over a lifetime would determine whether you ever became rich? And what if we told you that in just an hour or two we could share with you a simple system that would help you build wealth through home ownership? Would you be interested?

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At RE/MAX, We think buying a home should be an exciting and fulfilling experience: From your first house-hunting expedition until the closing and beyond, you as a prospective home owner, should experience feelings of happiness, enthusiasm and anticipation about yourselves, your new home and your future.

And now you can begin you home search today;

Free Automatic Home Search

This FREE service is designed to help you automate the search for your dream home.

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Remax Professionals Inc. Brokerage 1645 Dundas Street West Mississauga, Ontario L5C 1E3

905-270-8840 or 416-640-0734