Cost of Owning a Detached

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.