Quote:
Originally Posted by The Yen Man
You can live in a suburb condo starting to $175K. I get everyone wants to start at detached home right away, or live in a fancy inner city condo, but if you're making $60K as a 20 something you can still afford to buy a place. ~$200K is pretty do-able IMO with current wages in Calgary.
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A $175k mortgage on a condo is do-able...but for that money you're only getting one bedroom, you'll have to deal with the terrible condo board, and the condo fees are $500/month.
The condo fees push that mortgage payment into the monthly payment range of a small starter SFH, which has more space and no condo board.
The small extra stretch for a SFH is a no brainer.