, your premiere condominium source

Blog   Facebook  Twitter


House poor much?

Have you heard of the term "house poor"?  Essentially it means having your mortgage payments take up so much of your monthly income that you don't have much room for much else..  What should you do if this is the case? Should you sell your home and start renting?  Well with rental prices hitting new heights this might not be a better option.  One thing you could do is go into your bosses office and demand a raise, however, this might also leave you in the unemployment line if you come across as too brash.  Should you spend your available money on lottery tickets and cross your fingers?  Hey, you can't win if you don't play, but again probably not the best choice.  Give up evenings at the bar and get a part time job?  Now your getting somewhere but we're guessing this is not something you want to do.  Well, sorry friends, it seems like you are between a rock and a hard place.  Were you expecting us to have some miracle answer to your problems?  One silver lining is if you are diligent after awhile your mortgage payments will go down, especially if you double up on payments whenever you can or contribute bonus cheques to your mortgage.  Your home is your investment even if you bought it for the sole reason because you love the neighborhood and want to live in it.  Sacrificing in the beginning for long term gains can pay out huge!


new condo listings

Don't see what your looking for?  Our new Notify Me function will notify you as soon as it comes up for sale or rent!

Your Best Mortgage Options






Toronto Condos New York

Seattle Condos Blog


Robert Gidwani and Sayra Bidani    Salesperson    Century 21 Innovative Realty Inc. Independently owned and operated    Direct 416-888-0382 


Popular Searches: Toronto Condos for Sale Toronto New Condo Developments  Scarborough New Condo Developments  Scarborough Condos for Sale  Markham Condos for Sale  Etobicoke Condos for Sale  Etobicoke New Condo Developments VIP Condo Corner

About Us Site Map  Advertise  Careers  Privacy Policy  Client Login


© Copyright 2000-2015 / All Rights Reserved.

Designated trademarks and brands are the property of their repective owners.