Personal Finance

mortgage status check

  • Last Updated:
  • Jan 27th, 2015 9:57 am
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Member
Apr 1, 2010
289 posts
89 upvotes
Toronto
popcorneater wrote: Holy cow at $2600/month, I think I would have to re-evaluate whether one of us would stay home, or have my kids looked after by relatives or family members. That's pretty much the take home pay of an average white/blue collared worker such as myself (~$45k/year). I guess living in the prairies has it's advantages. $200k mortgage and cheap daycare!
Ahh makes sense then. Sometimes relatives just aren't an option, plus we didn't wanna go the nanny route nor a home daycare which is usually a bit cheaper. Stay in the prairies, this province will be bankrupt soon. Wynnter is coming.
Deal Addict
Feb 19, 2006
1518 posts
8 upvotes
popcorneater wrote: Where abouts in Canada are you? I was complaining about the cost for our 2 kids (4 years and 2 years old) and a friend from Toronto told me her one child costs more than both of ours combined.
This is in Toronto. I paid $3k a month for daycare alone. I didn't want to trap parents to watch the kids. They need to have their own free time.
Deal Addict
User avatar
Jul 10, 2004
2256 posts
6076 upvotes
Vancouver
Cost of my condo =~ $600,000.000
Original mortgage amount (2011) = $345,000.00
Current balance = $81,684.41

I'm 31 and married. I pay $3000 per month and have contributed several large lump sum payments.
Would be great if we could pay this off in 2 or 3 years... just in time to get another mortgage so that we can buy a $1.5M shack in Vancouver (doh!)
Deal Expert
User avatar
Oct 26, 2003
39338 posts
6341 upvotes
Winnipeg
frugalman wrote: This is in Toronto. I paid $3k a month for daycare alone. I didn't want to trap parents to watch the kids. They need to have their own free time.
how many kids? that's some expensive childcare
Deal Addict
Feb 2, 2011
1617 posts
270 upvotes
Ottawa
Sounds like people in Toronto need to open daycares. You can have 5 kids (2 under 2) for a licensed location. At a reasonable $1500 per, that's $7500 per month or $90k per year!
Newbie
Oct 16, 2007
25 posts
YYC
39... almost the big 40!

Finally after renting since, I was 21 or so, last March bought a $770k house, $520k mtg in Calgary.

No other debt... divorced.. about $200K invested in broad retirement savings.

Going to really start pounding it down come April.... those scumbags at TD really need to drop prime.

I wish now, buying some condos in Inglewood in Calgary before I worked out of the country.... my mother was willing to co-sign on 2 loft condos, which were around $90K if I remember back in 1997.. they are now $400K each....
Moderator
May 28, 2012
12484 posts
5278 upvotes
Saskatoon
seanwg wrote: 39... almost the big 40!

Finally after renting since, I was 21 or so, last March bought a $770k house, $520k mtg in Calgary.

No other debt... divorced.. about $200K invested in broad retirement savings.

Going to really start pounding it down come April.... those scumbags at TD really need to drop prime.

I wish now, buying some condos in Inglewood in Calgary before I worked out of the country.... my mother was willing to co-sign on 2 loft condos, which were around $90K if I remember back in 1997.. they are now $400K each....
Count your blessings...maybe you would have had to split your profits with your ex. ;)

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