Title

Buying A Home In Wasaga Beach? What Can You Afford?

Interest rates-we’ve never had it so good

A 3.5% mortgage rate fixed for 5 years In 2007 we were pleased to get 6% for 5 years.

In 2007 the monthly carrying cost for a $250,000 home would have been $1,468.36 ( 10% down amortized over 25 years.)

In 2009 under the same circumstances the $250,000 home would cost $1,145.83.

A SAVING OF $3870 PER YEAR.

Viewed another way you can buy a house for $320,000 with the same monthly mortgage you were paying in 2007.

Now I know some people will say home prices have gone up, gone down or whatever. However the average sales price of a home this year in Wasaga Beach is only $4,193 more than 2007; $252,558 against $248,365. The $250,000 example is almost spot on for 2007 and 2009.

With some great homes in Wasaga Beach from $200,000, the monthly cost can be as low as $900 or so!!

Want to be notified when there is new content to read on WasagaBeachTalking? Just enter in your email address and we’ll shoot you an email when there is new content for you to read. Don’t worry, I promise not to spam you or share your information with anyone else.

This entry was posted on Wednesday, May 20th, 2009 at 9:39 am and is filed under Financing, The World Of Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Leave a Reply

Name (required)

Email (will not be published) (required)

Website