What do you want of Home Finance Calculator?.
There are a few things to remember when buying a home Vs buying a condo because both have positives and negatives that you should think about. It will end up being a preference that you have to choose, because neither is better than the other as an farranging assessment.
Buying a home is something you should do if you don't mind doing all the handy work yourself. Things like mowing the lawn, shoveling the driveway and taking care of the face buildings are all part of home owning. If you add up the cost of a roof, painting, repairs, landscaping and snow dismissal and divide it out into a monthly cost for your home it would be very close to a condo fee that you would have if you bought a condo instead. So the costs are very similar for the two types of properties which means the condo fee shouldn't be the choosing factor.
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Buying a condo is nice because you don't have to do all the added bodily work like you would with buying a home. It can also be rewarding to have other people nearby if you are a people someone who likes to mingle with everybody else in the other condos.
The main choosing factor is the fact that a condo is much cheaper to buy. You can use a mortgage calculator or any type of interest calculator to frame out your monthly cost and how affordable it is for you. If you can in effect afford a home with the current interest rates and it's your preference then i say go for it. However, if you feel like you should stick to the smaller mortgage then you might opt to buy a condo instead.
Current interest rates are very important because your monthly cost will change quite a bit depending on which bank you decide to use. Look nearby and see how much it would cost to lock in the interest rate so that you know what it will be. Then you can frame out exactly what you can afford with a mortgage calculator and make your final decision to buy or not.
Buying a Home Vs Buying a Condo With a Mortgage Calculator
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