Newmarket Real Estate Realtor for Busy People™

Friday Harbour - Cost of Ownership


Friday Harbour - Cost of Ownership

Examples - Your Actuals will Vary

As of August 2021 - Costs subject to change - usually higher over time

Print-Friendly PDF

Suite Features Condo Condo
Purchase Price - Average as of Q3/2021 $570,000 $720,000
Bed 1 2
Wash 1 1.5
Parking 1 1
Sq Ft  - (+/- 100 SF)  Average as of Q3/2021 640 SF 840 SF
Price $/SF- Average as of Q3/2021 $895 $860
     
Mortgage    
Downpayment - % 30% 30%
Downpayment - $,000 $170 $220
Mortgage Balance - $,000 $400 $500
Mortgage Rate - 5 Yr Variable, 25 Yr Amort 2% 2%
Mortgage Payment per Mth $1,700 $2,100
     
Monthly Recurring Costs per Month     
Condo Fees -  $0.60 per SF (incl Internet & Sec monitor) $385 $500
Property Tax - 0.5% of Purchase Price /12 $240 $300
Insurance $30 $30
Hot Water Tank Rental $60 $60
Utilities - Water, Sewage, Hydro, Gas) $150 $175
Repairs and Upgrades - tbd    
     
Resort Association Fees  (paid yearly - shown mthly) $100 $100
Lake Club Fees $195 $195
Guest Fees - tbd    
Docking fees - Marina Membership - optional    
Golf fees - optional    
     
Total Monthly Cost of Ownership - No Mortgage $1,160 $1,360
Total Monthly Cost of Ownership - With Mortgage $2,860 $3,460
     
One-Time Initiation Fee - 2% of Purchase Price + HST $1,300 $1,630
     
One-Time Closing Costs    
Land Transfer Tax $7,875 $10,875
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
     

Return to Friday Harbour Made Easy  


Cost of Ownership - Buying from Builder


Aquarius

Cost of Ownership - Examples (There are 21 models to choose from)

Aquarius Flats           
Model Carina Orion Taurus  Pisces Polaris
Bedrooms  1  1 2 2 2
Washrooms 1 1 2 2 2
Parking - undergrd

1

1

1

1

1

Locker 1 1 1 1 1
Size - SF 540 595 805 905 935
Price - $,K $350 $390 $520 $600 $600
Price/SF          
           
Mortgage  (See Mortgage Calculator Below)          
Downpayment          
CMHC insurance           
Mortgage Balance          
Mortgage per mth           
           
Property Tax          
Condo Fees (Unit + Association Club Fees)          
Lake Club fees           
Parking & Locker condo fee           
           
           
Utilities  (hydro, gas, water, sewage) - all metered          
Condo Insurance            
Personal Utilities (phone,cable, internet)          
           

Cost of Ownership - without Mortgage

         
Cost of Ownership - with Mortgage          
           
Boat Slip fees (optional - leased)          
Golf Membership (optional - owner rates)          
           
Closing Costs          
Land Transfer Tax          
Legal Fees            
Tarion Warranty          
Meter Install Fees          
Initiation Fee (2% of Purchase Price)          
Development & Other Levies          
Other (tbd)          

Return to Friday Harbour Made Easy page 

These Charts and Others are made available to my clients only 

 


Affordability Calculator


Required Fields
   
    %
$
$  
$  
Estimate Insurance to of Cost
$  
Estimate Tax to of Cost
$
$
Optional Fields
   
   
$
Results
Receive Detailed Analysis  Receive this Detailed Analysis

Your Monthly Payments
 
Loan Amount:
Loan Insurance (%):
Total Loan (Mortgage) Amount:
 
Principal & Interest:
Homeowners Insurance:
Property Taxes:
Condo Fees:
Monthly Loan Insurance (%):
Total Monthly Payment:
Income Needed to Qualify for the Mortgage
Total Monthly Loan Payment:
Total Monthly Debt Payment:
Monthly Loan Insurance (%):
Qualifying Income of % GDS Ratio:
Qualifying Income of % TDS Ratio:
What You Can Afford
We are using the % ratio.
Cost of House:
Down Payment:
Loan Value:
Monthly Principal & Interest:
Monthly Insurance:
Monthly Property Tax:
Monthly Condo Fees:
 
Cost of House = [(Monthly income x Debt Ratio) –
monthly tax – monthly insurance – condo fee] /
(monthly interest rate/ function of interest rate)
Renting
Monthly Rent: $
Annual Rental Increases:  %
Monthly Renter Insurance: $
Savings or Investment Rate:  %
 
Owning
Planned # of years in home: 
Yearly appreciation of the home:  %
Annual home maintenance:  %