Re/Max First Time Buyer's Report 2011

Here's a carrying cost table to go along with the First Time Buyer's Report

You can find the full report here:  Re/Max First Time Buyer's Report

Obviously we're talking averages here for the GTA, to find out the specifics for the Durham region all you have to do is get in touch!

COST TO FINANCE AN AVERAGE-PRICED HOME*
		Five Per Cent	Amount	Monthly	Income
Market	Average Price	Downpayment	Financed	Carrying Costs	Required
Greater Vancouver	$780,819	$39,041	$741,778	$3,479	$130,460
Victoria	$489,113	$24,456	$464,657	$2,179	$81,722
Kelowna**	$390,462	$19,523	$370,939	$1,740	$65,239
Edmonton	$313,242	$15,662	$297,580	$1,396	$52,337
Calgary Metro**	$410,664	$20,533	$390,131	$1,830	$68,614
Regina	$266,701	$13,335	$253,366	$1,188	$44,561
Saskatoon	$292,463	$14,623	$277,840	$1,303	$48,865
Winnipeg	$228,822	$11,441	$217,381	$1,020	$38,232
Ottawa	$334,357	$16,718	$317,639	$1,490	$55,865
Greater Toronto**	$442,978	$22,149	$420,829	$1,974	$74,013
Hamilton-Burlington	$329,305	$16,465	$312,840	$1,467	$55,021
Kitchener-Waterloo**	$283,844	$14,192	$269,652	$1,265	$47,425
London-St. Thomas**	$226,709	$11,335	$215,374	$1,010	$37,879
Québec City**	$239,329	$11,966	$227,363	$1,066	$39,987
Island of Montréal**	$354,549	$17,727	$336,822	$1,580	$59,238
Moncton	$153,028	$7,651	$145,377	$682	$25,568
Halifax-Dartmouth	$257,355	$12,868	$244,487	$1,147	$42,999
PEI	$142,218	$7,111	$135,107	$634	$23,762
St. John's**	$255,512	$12,776	$242,736	$1,138	$42,691
*Represents Gross Debt Ratio of 32 per cent, 5-year closed fixed-rate mortgage at 3.89 per cent, and a 30-year
amortization period based on February  2011 year-to-date average price.  Income required does not take into
account property tax, heat or mortgage insurance.
Carrying Costs and Income Data Calculated by: Miles Kulik, Verico MHC Mortgage Services
Average Price Source: Canadian Real Estate Association, Local Real Estate Boards**