1. Visit www.realtor.ca to view current houses for sale. Provide a photo, location and general description of the home you are interested in purchasing. The home can be a single dwelling, townhouse or condominium. Limit your search to Ontario only.

2. Provide information on the purchase price for the property. Go to a bank website and get information about current mortgage rates. Select one type of mortgage and tell how much of a down payment is required and what your monthly mortgage payment will be, what is the term structure of the interest rate (ie. 5 year closed term at 4% Interest) and how long is the amortization of the mortgage (ie. The length of the total mortgage)? The following link will aid in the mortgage calculation

Resources

https://www.cmhc-schl.gc.ca/en/co/buho/index.cfm

https://www.cmhc-schl.gc.ca/consumers/home-buying/calculators/mortgage-calculator Mortgage Calculator

3. What closing costs can you expect? (Please do some independent research. For example, this refers to Legal Fees, Taxes, Inspection Costs etc...) Please make a prediction on the costs based on YOUR purchase.

4. Do-an internet search and provide a list of approximate annual maintenance costs that you can expect when owning a home. This link will provide some context https://www.investopedia.com/the-hidden-costs-of-owning-a-home-4776306

5. Develop a goal on when you hope to buy your first home and how you plan to save for the purchase. Be as detailed as possible!

6. What is the most important thing that you will remember from this assignment?

7. What unanswered question do you still have regarding the material covered in this module? (this is a graded component, so please prepare-a question from your research)