video1.0<iframe src="https://www.loom.com/embed/9ef6ad0fcfe6498fbbc8e194634d41f6" frameborder="0" width="1152" height="864" webkitallowfullscreen mozallowfullscreen allowfullscreen></iframe>8641152Loomhttps://www.loom.com8641152https://cdn.loom.com/sessions/thumbnails/9ef6ad0fcfe6498fbbc8e194634d41f6-00001.gif989Text Laura at 647 822 6762 if you're interested! You can review the entire project, price sheets, floor plans and more info here: https://drive.google.com/open?id=1EewIgo_AM99LMiHj1kHUKAQoa5xEidIc. COST BREAKDOWN: BASED ON THE GNEISS SUITE: 381 SQFT Interior + 145 sqft Balcony = 526 sqft ($884/sqft) North Facing Studio, 1 Bathroom - CONDO FEES: $0.61/sqft = ($232/month) 10th Floor VIP Sale Price: $464,990 - 2022 JULY/AUGUST $5000 Deposit on Signing - Bank Draft 5% - 30 Days from Signing ($23, 249.50 = $18,249.50) 5% - January 2023 - $23,249.50 - january 27 (180 days) 5% - January 2024 - $23,249.50 TOTAL DEPOSIT: $69,758.50 in 2.5 years (540 days) WAIT... UNTIL OCCUPANCY IN SUMMER 2026/WINTER 2027 2027/2026 summer + 5% at closing ($23,249.50) = $92,998 total deposit over 5 years IF YOU SPLIT THIS 15% DEPOSIT WITH 4 PEOPLE... $17,439.50 OVER 2.5 years (You would need to save $30/day) BALANCE (MORTGAGE APPROVAL) = $371,982.50 - 2027 *THIS WILL APPRECIATE: let's say it goes up 28% in 5 years, (+ $130,197.20 by 2027) based on a 7% YR/YR appreciation, which is the 40 year average 2027 NEW VALUE: $595,187.20 Get a mortgage of 80% of the new value OR/UP TO the original purchase price. Get a mortgage of $464,990 OPTION 1: Get your deposit back! 2027 MORTGAGE AMOUNT: 80% OF NEW VALUE UP TO PURCHASE PRICE = RECEIVE YOUR DEPOSIT BACK! = + 69,758.50 and rent or move in, sit on it for a year and sell later, whatever makes sense for you. (Approx rental amount is $1800/month, break even or slightly negative with mortgage payments) OPTION 2: SELL/Assign - You can sell before you ever have to close and provide the last 5% - You can also Add the additional 5% down payment and get a conventional mortgage for $371,982.5 TOTAL EQUITY: (595,187.20 - 371,982.5) = $223,204.80 CASH EQUITY THAT YOU GET ON SELLING!! You would get all this $$ if you sell it instead of occupying it