|
Find a house to buy in your future:
http://www.bchomesforsale.com, http://www.mls.ca or check a real estate newspaper (house under $600,000) |
|
|
Copy and paste ad and information
into word document –Part B |
|
|
Calculate Sales Tax on house
1st $100,000 x .01 =
$1,000
Remainder x .02 |
|
|
Calculate 15% down payment
House cost x .15 |
|
|
Calculate Mortgage Amount Needed
House cost minus down payment |
|
|
Look up Mortgage companies to find
the best mortgage rate:
http://www.canadamortgage.com/ratesshow/showrates.cfm |
|
|
Copy and paste into word-Part B |
|
|
Look up a mortgage calculator to
find monthly payments for a mortgage amortized over 25 years:
|
|
|
Determine the total initial cost
(down payment + purchase tax + 1st monthly payment (from mortgage calculator)) |
|
|
Include all calculations in your
word document for part B |
|
|
Determine some extra mandatory
costs for purchasing a house:
- house inspection fee
- mortgage application fee
- legal fees
http://www.assignmentscanada.ca/buyingincanada.html
|
|
|
Find out what property taxes are
where your house is located:
http://www.saanich.ca/living/tax/propertytax.html
http://www.victoria.ca/cityhall/departments_fincon_tax.shtml |
|
