That’s the benchmark price in Vancouver. Let’s say one has $300k for a downpayment. What does the household income, pre-tax, have to be to afford that home?
I know there are online calculators, but I’m not sure how accurate they are, and I figure this group will be more knowledgeable.
Thanks for the mortgage approval estimate. We’re not at $240k income now, but we very well might be in a few years. So I’m considering yeeting into a home we can only barely afford — perhaps with parents co-signing. In the past, I would’ve agreed with others that this is a bad idea, but, given the trends of the housing market, now I’m not so sure.
$300k down payment does not include $100k set aside as buffer.