It’s Like a Mortgage Calculator, but More Personal
What’s your dream city in Canada? BuzzBuzz home has created an indicator as to whether you can afford a home in these major Canadian cities. Go ahead, plug the city, along with your household income into the calculator. Not only will it spit out a yes or no answer, but it states what type of home you can afford. The data is based on the RBC Housing Affordability Measures for Q1 2015. It factors in the proportion of median pre-tax household income needed for mortgage payments, property taxes, and utilities. Be careful though, the calculation is based on a 25% down payment.
Try it out at BuzzBuzz Home