FINANCES

When you first start thinking about buying a home, you need to ask yourself “What can I afford?” To determine affordability you will first need to know your taxable income along with the amount of any debt outstanding and the monthly payments. Assuming it is your principal residence you are purchasing, calculate 32% of your income for use toward a mortgage payment, property taxes and heating costs. If applicable, half of the estimated monthly condominium maintenance fees will also be included in this calculation.

In addition to considering what the ratios say you can afford, make sure YOU determine exactly how much debt you’re comfortable servicing. If the payment amount you are comfortable with is less than 32% of your income, you may want to settle for the lower amount rather than stretch yourself financially. Make sure you don’t leave yourself house poor. Structure your payments so that you can still afford simple luxuries. This is yet another thing a good and honest agent has experience in discussing with you. An agent with life experience.

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CONTACT

Andre prides himself in consistently providing clients with an engaging and memorable experience.

ADDRESS:

2145 Avenue Road
Toronto, ON M5M 4B2

Phone:

416-451-2642
416-441-2888 ext. 614

BROKERAGE

For over 60 years, Harvey Kalles Real Estate Ltd., Brokerage has been dedicated to offering professional service to all of our customers.

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This is not intended to solicit buyers or sellers under contract with a Realtor All information and data, some of which may be provided by third parties, including neighbourhood, demographic and statistical data is provided for general informational purposes only and is not professional advice (“Information and Data”). Information and data is provided as is, with no warranty of any kind, nor guarantee of completeness, accuracy, or timeliness. Reliance on any Information or Data is at your sole risk. The Print Market, authors, agents and brokerages are not liable for any errors or omissions, or damages of any kind, including negligence. No information or data constitutes a solicitation of buyers or sellers under contract.