Virtually Toronto Real Estate

Toronto Real Estate Information

Assess Your Finances

Calculating the cost of homeownership
Calculating the cost of homeownership is much more complicated, because income tax considerations affect your bottom line. And there is, in addition, the uncertainty about how much the value of your home will rise (or even fall) in the coming years.

As a tenant, you may be taking a standard deduction on your income tax return. This is the time to judge how that standard deduction stacks up against the amount you'd be able to subtract from income if, like most homeowners, you itemized deductions instead.

Further Information:
Planning Your Home Purchase
Checking Your Credit Rating
Pre-qualification and Pre-approval on a Mortgage
Becoming an Educated Buyer: Research Neighbourhoods
Becoming an Educated Buyer: Your List of Home Requirements
Assess Your Finances: Checklist
Assess Your Finances: Compare buying with renting
Assess Your Finances: Calculating the cost of homeownership
Assess Your Finances: What you can deduct
Interest Rates and How They Change
Closing Costs
Other Closing Costs
Figuring Out Your Monthly Income
Figuring Out Your Monthly Debt
Amount of Your Down Payment
How Much House Can You Afford?

Virtually Toronto Real Estate (home) | Selling Toronto Real Estate | Buying Toronto Real Estate | Contact Us | News/Info | Toronto Real Estate Agents | Toronto Commercial Real Estate | Toronto Real Estate Services | Our Newsletter | Toronto Luxury Real Estate | Toronto Neighbourhood Information | Toronto Real Estate Glossary