This includes all additional monthly costs associated with your home such as:

  • Condo fees also referred to as maintenance fees which are mandatory fees when living in a building that covers a range of expenses such as heat and hydro. (This can vary depending on the building). Condo fees are determined by the age and size of the building as well as the amenities provided.
  • Utilities which can refer to set of services necessary to run a home such as heat, hydro, water and gas. The amount can vary depending on the home and the season.
  • Home Insurance helps protect you and your home from unexpected damage such as flood, theft or vandalism. Most lenders do require you to have home insurance to get a mortgage so that the assets they are lending on can be protected. 
You may also add any additional costs such as your car payments, credit card bills, etc.