Dennis Paul Paradis

Dennis Paul Paradis

REALTOR®

RE/MAX Hallmark York Group Realty Ltd.

Mobile:
416-399-5832
Email Me

Cost of Ownership Friday Harbour - An Example

Cost of Ownership Friday Harbour - An Example

As of August 2022 - Costs subject to change - usually higher over time

 Examples - Your Actuals will Vary

Suite Features Condo Condo
Purchase Price - Example   $710,000 820,000
Beds 1 2
Washrooms 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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