Owning a home is getting more and more difficult for the younger generation to enter the market and find something affordable.

Living in a multi-generational house or buying with a friend has become the norm as a single income just wont make ends meet.

So I thought I might highlight a recent listing, and provide some additional information of what you might require to buy this unit

Mortgage, taxes, condo fees, & heat all go into the affordability calculation.

Currently listed, I have one of the more affordable properties located in Hamilton, priced at $385,000, Condo fees $689.35 (includes heat & underground parking), and taxes of $1656/yr.

Based on todays interest rates (using the government qualification rules - and subject to change), you would need a household income of roughly $85,000 (assuming you aren't carrying a ton of debt). (get in touch with your mortgage professional for a pre-approval and see what your affordability looks like)

Then there is the down payment... this unit can be bought with as little as 5% down. $19,250... Do you have RRSP's? A Work Savings plan? Maybe a parent that is willing to help out?

3 Bedrooms - 1 Bathroom - 2 stories - feels like a townhome

This property is unique in the sense that you have sky streets vs closed in hallways.

Send a message and I can set up a time for you to view it.

Chrissy Walker, Realtor

Chrissy: 289-440-4796

chrissy@chrissywalker.ca

Re/Max Escarpment Realty Inc.