October 05, 2009

First Time Home Buyer Reality Check - Affordability

As I mentioned in my September Net Worth Udpate, I am planning to start my property hunt for the first time. So, first question comes into my mind is, "what can I afford"?

There are two types of costs in buying a home -- the initial down payment and the ongoing monthly mortgage payments. The largest one-time cost is the down payment.

When purchasing a home, there are also many one time costs and monthly expenses that I will need to budget for in addition to the expenses that I have while renting.

One-time Expenses:

Property inspection (optional), due at time of inspection
Legal fees, due at the time of closing
Legal disbursements, due at the time of closing
Property survey (sometimes provided by seller), due at the time of closing
Mortgage interest adjustment (if applicable), due at the time of closing
Home and property insurance, at closing and ongoing
Moving expenses, due on the date of move

Monthly Expenses:

Mortgage payments
Maintenance/Condominium fees
Property and content insurance
Property taxes

October 02, 2009

Canada Auto Sales for September 2009

Here is the new auto sales statistics in Canada for September, 2009 compared to same period last year.

Acura: -45% to 1,127
Audi: +17.1% to 1,111
BMW: +50.1% to 2,402
Chrysler: -7.1% to 15,804
Ford: +24.4% to 16,140
General Motors: -23.4% to 23,568
Honda: -12.2% to 11,272
Hyundai: +30.8% to 9,282
Infiniti: -14.3% to 639
Jaguar: -24.4% to 62
Kia: +19.7% to 4,515
Land Rover: -8.2% to 179
Lexus: +11.3% to 1,504
Mazda: -3.6% to 6,520
Mercedes-Benz: +24.9% to 2,248
Mini: -16.9% to 340
Mitsubishi: +18.5% to 1,735
Nissan: -0.9% to 6,594
Porsche: +14% to 114
Saab: -48.2% to 59
smart: +3.7% to 312
Subaru: +68.4% to 2,544
Suzuki: +3.6% to 1,351
Toyota: -11.1% to 16,065
Volkswagen: -4.2% to 3,508
Volvo: -6.4% to 508