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ra Before you buy a home, | whether resale or newly built, you | will need to know how much home you can afford. The process of determining the price range of af- fordability involves the calcula- NOTHING! CONTRACTORS & CARPENTERS *Woodruf Rustic *Gerard Roofing Tiles pole Barns CONSTRUCTION eR a HARRY PIERSMA Additions 985-8822 Re CHALK LAKE FARM SERVICE 649-3725 BULLoozNG 649-5969 Garage Door Specialists RESIDENTIAL - COMMERCIAL - INDUSTRIAL DOOR OPERATORS & ACCESSORIES SALES * SERVICE * INSTALLATION 985-3735 Don Steele SPECIALIZING IN CUSTOM KITCHENS, VANITIES, BARS MARK BURGER JIM WALLING DRYWALL SERVICES TAPING - TEXTURING PAINTING & WALLPAPERING RENOVATIONS | Tim Pelyk 985-3490 PORT PERRY (416) 985-0420 J) 1 tion of two amounts: the amount of cash you can afford to put towards the purchase (downpay- ment), and the maximum amount of loan (mortgage) that you can comfortably carry. When buying a home, pur- chasers need to be practical and realistic. Over-extending yourself financially is the quickest way to destroy the excitement of owning a new home. Because there are always additional costs in the weeks and months after closing, it's prudent to leave yourself a financial cushion. These costs may include land transfer tax, legal fees, mortgage ar- rangements, moving expenses, purchase of new furnishings, and major appliances. In order to determine your maximum downpayment for a particular purchase, additional costs must be deducted from liquid assets. Your primary consideration when buying a new home should be "what can I afford to buy." Setting a maximum price range is more important than simply establishing an upper price limit, since unanticipated costs could push you into the monetary BUTT & SON EXCAVATING Dig Basements, Waterlines Backfilling, Trenching, Tile Beds DON BUTT 86 Russett Ave., 436-84 10 Oshawa, Ont. CLARENCE WILLCOCK WELDING PHONE 985-2589 CUSTOM BUILT STAIRS | Eric Huntington & Son 29 Scugog St. N., 986- 3518 Blackstock, Ont. CHAS D. TAYLOR LTD. RENOVATIONS Kitchens Bathrooms foe som Fs z ~~ Enterprise Kitchens HA Ini 985.4285 pok cul ib 986- 5350 a _ et Rae GUARANTEED QUALITY AT WAREHOUSE PRICES ® Solid Oak Frames ® Adjustable Shelves ® Wipe-Clean Interiors 7 i If you value excellence call for a FREE ESTIMATE PORT PERRY STAR -- Tuesday, July 11, 1989 -- 51 ' How much home can you afford to buy? danger zone. Affordability is determined by the amount of downpayment you have available to defray the cost of the mortgage. Mortgages cover the difference between the pur- The War Amps CHILD AMPUTEE PROGRAM For information dial toll-free area codes 519, 613, 705, 1-800-268-8821; other area codes dial 1-800-268-8917 chase price and what you pay from your own resources. To keep down the interest cost associated with home ownership, it's wise to put down as much of your own money as possible. The first step towards deter- mining a feasible loan amount is to calculate the maximum mon- thly payment which you can af- ford. Most purchasers find it necessary to apply for financing from a major lending institution. It is the particular policy of the lending institution' which deter- mines the maximum loan allowed. RASPBERRIES _< (ool Shp). Neggel io Wey Noo] hg of] CUMMINGS BACKHOE SERVICE & COTTAGE RAISING Complete Basements, Blocks, Footings, Concrete Floors, Septic Systems, Grading, Sand and Gravel (a1e) 986-5601 DOZERS -- BACKHOES, TRUCKS -- LOADERS Serrc SYSTEMS MECCO Blackstock 986-0850 U-PICK or WE PICK Phone for Picking Conditions or To Place Orders. OPEN DAILY 8 AM to 7:30 PM (except Wednesdays) STEVENSON'S (3 km. West of Hwy. 12 on 2nd Line) Ki N G EXCAVATING 985-9808 Skid Steer -- EST 1972 -- -- EXCAVATING -- TRENCHING -- SEPTIC SYSTEMS -- SNOW REMOVAL -- DEMOLITION RON VORINS CONSTRUCTION RICK PATTERSON 2985-09682 LOG HOMES SALES OFFICE one 986-4215 - PATTERSON & CRAWFORD - DRYWALL SERVICES BOARDING -- TAPING -- TEXTURED CEILINGS Workmanship Guaranteed "LUCYK-McPHEE CONSTRUCTION' -- LIMITED -- "Designers and Builders of Fine Homes" HWY. 7A NESTLETON 436- 81171 Mobile RON CRAWFORD 2985-3700 QUALITY BOX 1522, WORKMANSHIP PORT PERRY, i GUARANTEED FARR ONTARIO, LOB INO ; OJ Custom Homes [J Custom Designs [J Renovations | JOHN LUCYK - 985-8569 DAN McPHEE - 985-2688 PRESIDENT ARCHITECTURAL TECHNOLOGIST PO apg pay WB TW Py Sa