Purchase Price              

Original Value Before Doing Anything                 $500,000
Plus   Commissions when you Sell $25,000
HST 13%  HST - Commissions when you Sell $3,250
Plus Legal Fees (not including disbursements) $1,800
Plus Land Transfer – Toronto Municipal Tax
Land Transfer – Provincial Tax
$5,725
$6,475
Total Cost Without renovations $545,475

 

Purchase Price              

Plus  
HST 13% 
Plus
Plus
Total Cost
Original Value Before Doing Anything                
Commissions when you Sell
HST - Commissions when you Sell
Legal Fees (not including disbursements)
Land Transfer – Toronto Municipal Tax
Land Transfer – Provincial Tax
Without renovations
$500,000
$25,000
$3,250
$1,800
$5,725
$6,475
$545,475
3 Mth Carrying Costs                  Mortgages, Taxes, Utilities and Insurance
Plus 3 mths Mortgage @ 2,500 p/month            $7,500
Plus 3 mths Taxes @ 500 p/month $1,500
Plus 3 mths Utilities & Insurance approx $900
Total Cost $9,900

 

3 Mth Carrying Costs                 
Plus
Plus
Plus
Total Cost
Mortgages, Taxes, Utilities and Insurance
6 Mths Carrying Costs               Mortgages, Taxes, Utilities and Insurance                 
Plus 6 mths Mortgage @ 2,500 p/month            $15,000
Plus 6 mths Taxes @ 500 p/month $3,000
Plus 6 mths Utilities & Insurance approx $1,800
Total Costs $19,800
6 Mths Carrying Costs              
Plus
Plus
Plus
Total Costs
Mortgages, Taxes, Utilities and Insurance                 
6 mths Mortgage @ 2,500 p/month           
6 mths Taxes @ 500 p/month
6 mths Utilities & Insurance approx
$19,800
$15,000
$3,000
$1,800
Renovations                               What is the Value of Renovations
Plus Very Minor Renovations $8000 -$20,000
Plus Medium Renovations $20,000- $50,000
Plus Larger Renovation $50,000 - $75,000
Plus Extensive Renovation is over $75,000 plus  
Renovations                               
Plus
Plus
Plus
Plus
What is the Value of Renovations

 

Total Breakdown                          

3 Mth Purchase-Reno-Sale                           

6 Mth Purchase-Reno-Sale-Close

$25,000 Renovation Sale $570,000 breaks even Sale $580,000 breaks even
$50,000 Renovation Sale $595,000 breaks even Sale $605,000 breaks even
$80,000 Renovation Sale $620,000 breaks even Sale $630,000 breaks even

 

LINDA PINIZZOTTO

Realtor CEO Linda Pinizzotto Group

LINDA PINIZZOTTO REAL ESTATE GROUP
Branch with RE/MAX Realty Enterprises Inc
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41 years of Experience Selling Real Estate with honesty, integrity and compassion

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