Use this calculator to estimate your monthly carrying costs for a condo. The calculation is based on the following:
- A 15% deposit is automatically deducted from the purchase price.
- A 2% fee is applied to the remaining balance (after the deposit).
- Property tax is calculated at 1% of the purchase price.
- Condo fees are estimated at $0.40 per square foot.
- The total cost is then divided by 12 to provide a monthly estimate.
Simply enter the purchase price and square footage of your condo, and the calculator will display your estimated monthly cost.