Quote:
Originally Posted by boogerz
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.
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There are 70 condos listed in Calgary with an asking price of 175k or less that have 2 bedrooms. And a 175k mortgage is a purchase price higher than that, plus negotiating room.