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Friday Harbour - Cost of Ownership


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

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Suite Features Condo Condo
Purchase Price - Example   $570,000 $720,000
Bed 1 2
Wash 1 1.5
Parking & Locker Yes Yes
Sq Ft  - (+/- 100 SF)  Average as of Q3/2021  530 SF 735 SF
Price $/SF- Average as of Q3/2021 $1,075 $980
     
Mortgage    
Downpayment - % 30% 30%
Downpayment - $,000 $171 $216
Mortgage Balance - $,000 $399 $504
Mortgage Rate - 5 Yr Variable, 25 Yr Amort 3.69% 3.69%
Mortgage Payment per Mth $2,032 $2,567
     
Monthly Recurring Costs per Month  (tax incl)    
Condo Fees -  $0.61 per SF (incl Internet & Sec monitor) $325 $450
Property Tax - 0.5% of Purchase Price /12 $240 $300
Insurance $30 $30
Utilities - Water, Sewage, Hydro, Gas $150 $175
Repairs and Upgrades - tbd    
     
Resort Association Fees  (paid yearly - shown mthly) $80 $110
Lake Club Fees $170 $170
Guest Fees - tbd    
Docking fees - Marina Membership - optional    
Golf fees - optional    
     
Total Monthly Cost of Ownership - No Mortgage $995 $1,235
Total Monthly Cost of Ownership - With Mortgage $3,027 $3,802
     
One-Time Initiation Fee - 2% of Purchase Price + HST $11,400 $14,440
     
One-Time Closing Costs    
Land Transfer Tax $7,875 $10,865
Legal Fees $1,200 $1,200
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 (Builder Sold Out - only MLS Resales available, if any)

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  - $0.61 PSF (2021)          
(includes cable, internet & home monitoring)          
Lake Club fees - 2021 1.60/sf +HST          
Parking & Locker condo fee           
           
Utilities  (hydro, gas, water, sewage) - all metered          
Condo Insurance            
           

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            
Initiation Fee (2% of Purchase Price+HST)          
           
New Condo from Builder extra costs:          
Occupancy Fees          
Tarion Warranty          
Meter Install Fees          
Development & Other Levies          
Other (tbd)          

Return to Friday Harbour Made Easy page 

These Charts and others can be customized for my clients - call Dennis at 416-399-5832

 


Affordability Calculator


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Loan Amount:
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Cost of House = [(Monthly income x Debt Ratio) –
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(monthly interest rate/ function of interest rate)
Renting
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Owning
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