Friday Harbour - Cost of Ownership
Examples - Your Actuals will Vary
As of August 2022 - Costs subject to change - usually higher over time
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| Suite Features |
Condo |
Condo |
| Purchase Price - Example |
$710,000 |
820,000 |
| Bed |
1 |
2 |
| Wash |
1 |
1.5 |
| Parking & Locker |
Yes |
Yes |
| Sq Ft - (+/- 100 SF) Average as of Q3/2021 |
720 SF |
820 SF |
| Price $/SF- Average as of Q2/2022 |
$986/SF |
$976/SF |
| |
|
|
| Mortgage |
|
|
| Downpayment - % |
20% |
20% |
| Downpayment - $,000 |
$171 |
$216 |
| Mortgage Balance - $,000 |
$399 |
$504 |
| Mortgage Rate - 5 Yr Variable, 25 Yr Amort |
4.19% |
4.19% |
| Mortgage Payment per Mth |
$3,047 |
$3,433 |
| |
|
|
| Monthly Recurring Costs per Month (tax incl) |
|
|
| Condo Fees - $0.61 per SF (incl Internet & Sec monitor) |
$435 |
$490 |
| Property Tax - 0.5% of Purchase Price /12 |
$295 |
$335 |
| Insurance |
$30 |
$30 |
| Utilities - Water, Sewage, Hydro, Gas |
$150 |
$175 |
| Repairs and Upgrades - tbd |
|
|
| Hot Water Tank Rental |
$60 |
$60 |
| Resort Association Fees (paid yearly - shown mthly) |
$ 110 |
$125 |
| Lake Club Fees |
$170 |
$170 |
| Guest Fees - tbd |
|
|
| Docking fees - Marina Membership - optional |
|
|
| Golf fees - optional |
|
|
| |
|
|
| Total Monthly Cost of Ownership - No Mortgage |
$1,275 |
$1,385 |
| Total Monthly Cost of Ownership - With Mortgage |
$4,322 |
4,818 |
| |
|
|
| One-Time Initiation Fee - 2% of Purchase Price + HST |
$16,046 |
$18,080 |
| |
|
|
| One-Time Closing Costs |
|
|
| Land Transfer Tax |
10,675 |
$12,475 |
| Legal Fees |
$1,500 |
$1,500 |
| Moving |
$1,000 |
$1,000 |
| Periodic repairs and upgrades |
$500 |
$500 |
| Furniture, Dishes, other Supplies |
$1,000 |
$1,000 |
| Shuttle to/from Barrie Go Train - included with ownership |
Free |
Free |
| Mortgage Downpayment @20% |
$142,000 |
$160,000 |
| Total Closing Cost |
$172,721 |
$194,555 |
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