Average Townhouse
Average Selling Price: $740,000
20% Down Payment: $143,000
Mortgage is (3% Amortized 30 Years) $572,000
Monthly Payment: $2,517
Semi-Detached
Average Selling Price with Finished Basement $800,000
20% Down Payment: $160,000
Mortgage is (3% Amortized over 30 Years) $$640,000
Monthly Mortgage Payment is $2,700
Monthly Rent Collected from basement $1,000
Net Monthly Cost $1,700
Detached
Average Selling Price with Finished Basement $1,100,000
20% Down Payment: $220,000
Mortgage (3% Amortized over 30 Years) $880,000
Monthly Mortgage Payment $3,710
Monthly Rent Collected is $1,300
Net Monthly Cost $2,410
Did you know owning a Townhouse in Mississauga may be costing you more money on a monthly basis?
Most of my clients have been selling their townhomes and moving into a Semi or a single Detached House are finding themselves with more houses and more money on a monthly basis. Some of my clients are saving anywhere between $100 and $800 by moving into a bigger property.