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 DStG

Realtor and Owner

LINDA PINIZZOTTO REAL ESTATE GROUP
Branch Partnership with RE/MAX Realty Enterprises Inc
We welcome you to visit with us in our beautiful Port Credit office.

Enjoy the Power of Experience

Contact Linda

Contact Me

41 years of Experience Selling Real Estate with honesty, integrity and compassion