本文发表在 rolia.net 枫下论坛I am struggling whether I need to jump in the housing market right now. My situation is: (1) we both work and have stable incomes and (2) have accumulated around $40,000 down payment ($20,000 in RRSP). (3) close to good primary school (4) currently renting $1100 /month (5) looking for 3 bedroom townhouse/house in downtown north york (C14 zone).
Buying home for us is not a question but when.
Option 1: wait for two more years to save up 25% down payment. It will also give us time to put $20,000 into my husband’s RRSP. He started to work 3 month ago. Currently, he has no RRSP. The down side is throwing away two years rent.
Option 2: starting hunting a townhouse/house. The biggest concern is the trend of housing market. According to one CMHC article, average housing price in Toronto is predicted to go up by 5% in 2005 due to low mortgage rate and strong economy. On the other hand, I heard a lot of people tell me it is not a good time to buy based on the assumption nothing can go up for ever.
If I buy $400,000 house in north york, how much will be my ongoing cost to maintain the house? Property tax+cost of fixing house+utilities+any other one time cost excluding mortgage.
Thanks you for any comments/thought.更多精彩文章及讨论,请光临枫下论坛 rolia.net
Buying home for us is not a question but when.
Option 1: wait for two more years to save up 25% down payment. It will also give us time to put $20,000 into my husband’s RRSP. He started to work 3 month ago. Currently, he has no RRSP. The down side is throwing away two years rent.
Option 2: starting hunting a townhouse/house. The biggest concern is the trend of housing market. According to one CMHC article, average housing price in Toronto is predicted to go up by 5% in 2005 due to low mortgage rate and strong economy. On the other hand, I heard a lot of people tell me it is not a good time to buy based on the assumption nothing can go up for ever.
If I buy $400,000 house in north york, how much will be my ongoing cost to maintain the house? Property tax+cost of fixing house+utilities+any other one time cost excluding mortgage.
Thanks you for any comments/thought.更多精彩文章及讨论,请光临枫下论坛 rolia.net