The true monthly cost is the mortgage payment plus property tax, strata fees, unit insurance, utilities, maintenance inside the unit, a capital contingency, and property-specific transportation or service costs.
Decision points
- 01
Do not treat the strata fee as complete maintenance coverage.
- 02
Add a monthly reserve for uncertain capital exposure.
- 03
Show the renewal-stress result beside today’s payment.
Separate recurring and irregular
Recurring bills support monthly cash flow. Irregular repairs, deductibles, assessments, move-in fees, and replacements belong in an annual or capital reserve. Combining both produces a more honest affordability view.
Keep principal visible
The full mortgage payment affects cash flow, while part may reduce principal. Show that distinction in long-horizon analysis, but never omit the full payment from the monthly survival budget.
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