$1 million was once money that is enough establish you for a lifetime, but those times are long past. In a few areas of Canada, you’re lucky if $1 million will purchase your fantasy house, allow alone fund your retirement. This couldn’t be truer in metropolitan areas like Toronto, where in fact the property that is average hovered around $800,000 in 2019.
Therefore, if it costs $1 million to get a property in towns like Toronto in Vancouver, are you currently among the fortunate Canadians who are able to manage this cost? Let’s have a look at the factors that will see whether you really can afford the normal home loan on a 1 million dollar house.
Today what is a million dollars?
Recall the track “If I’d $1,000,000” because of the Barenaked Ladies? Once the band circulated the track in 1992, $1 million had some severe buying energy.