SIGN ME UP FOR THE DAILY LIST OF CONDOS UNDER $1,999/month
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In order to help first time home buyers who are looking to get out of rental and buy their own place I will be compiling a daily list of condos in Toronto (427/Lake/401/DVP) which can be bought and maintained for under $1,999 a month including most of expenses.
The only upfront money you’ll need is your downpayment. The maximum amount for any of the condos from my list is $17,000 (including downpayment and all closing costs). If you have more, great! More money down means savings on mortgage insurance and even lower monthly payments.
I tried to keep my calculations as straightforward as possible by including absolutely everything. Let me know if I missed anything.
- 5% downpayment
- Mortgage at 2.5% for 25 years
- Mortgage insurance (up to $10,800)
- Lawyer fees (up to $1,415)
- Land transfer tax (up to $1,200 for first time buyers)
- Property tax (up to $1,950/year)
- Hydro (up to $60/month)
- Insurance (up to $40/month)
The list is compiled daily and consists mostly of studios and one bedroom condos like this one.
Sing up for the list. Watch the market. Contact me if you need any further assistance. You can always TEXT or CALL (416)-939-5101 (Alex). Good luck hunting!