costcomparison

Condominium Vs Rental Retirement Comparison
HEARTHSTONE LIVING EXPENSES
RENTAL RETIREMENT EXPENSES
$45,450/year
$60,000 – $84,000/year
CONDO FEES $7800
PROPERTY TAX $3500
HYDRO $1000
BASIC SERVICE PACKAGE $17400
ADDITIONAL HOUSEKEEPING $1000
GROCERIES $5000
EATING OUT $3000
LOST INVESTMENT INCOME * $6750
Total (including meals)
$45,450

 

Monthly Rent
Total Yearly Expenses
$5,000 $60,000
$6,000 $72,000
$7,000 $84,000
* Lost investment income is calculated at 2.5% return on $450,000 (cost of unit) after tax. There has been no adjustment made for the potential increase in the value of the condominium unit purchased.