What’s Your Budget?
Don’t be house rich and cash poor! Living in a beautiful country like Canada means you should budget not only for your mortgage but also to enjoy life beyond it. A good rule of thumb is to keep your monthly mortgage payment, including property taxes, heating, and half of any strata fees, at around 32% of your gross household income. Stay within your budget and enjoy the best of both worlds—your home and everything else life has to offer.