Freehold vs. Condo
Many townhomes on the market today are subject to expensive monthly condo fees that reduce your purchasing power while offering few benefits. In Guelph, it is not uncommon to pay $150 per month or more in condo fees for a new townhome. Here is a simple equation that shows how much more you could afford in a freehold home rather than paying $150 in condo fees:
$150 per month = $27,650 in purchasing power.*
That means that you could buy a freehold condo for $27,650 more than a condo townhome, and have the same monthly carrying costs.
*Calculated @ 4.3% interest rate, 5 year term, 25 year amortization