hi everyone,

ive been looking at apartments and condo's all day trying to work out if ill be able to afford anything.
What kind of mortgages do they give you? Is it 2.5 x salary like here?
Im expecting my salary v roughly to be 46000, on my own, too young to move to the suburbs yet.
is this viable to get my own place?

be very conscious of condo fees etc as these can add a significant amount onto your monthly outgoing.

I would recommend renting first, unless you are very familiar with the city ; as this will give you more time to decide upon which neighbourhood you would most like to settle in.

usually up tp 3.5 times income also depends on downpayment you have - condo fee's can add up - I don't think you'll get much based on your salary in Toronto - better to look at burbs if you want something half decent

It's not enough income to buy (unless you have a massive deposit). I'd look for a place in a co-op.

co-op?

i will be renting initially, dont want to sell up over here just yet

A more reasonably priced way to live downtown:

http://www.chfcanada.coop/eng/pages2007/about_1.asp

http://www.ontario.coop/pages/index.php?main_id=286

thanks, ill look into them.

Karen