ome ownership is more affordable Htoday than many Canadians currently believe, according to a new Royal Bank/Environics survey. The survey, conducted for Royal Bank by Environics Research Group in March, finds that the average Canadian overâ€"estimates by as much as $500 per month the cost of carrying a $100,000 mortgage. For example, during the survey period in March, the actual cost (prinâ€" cipal and interest) of borrowing $100,000 for a mortgage amortized over 25 years, ranged between $700.42 and $747.32 per month (based on rated for a twoâ€"year term which fluctuated between 7 to 7.75%. However, on average, Canadians who responded to the question estimated the cost to be $1,212 per month â€" $450 to $500 or about 60 to 70% higher than the actual cost at the time of the survey. This overâ€"estimation of monthly mortgage costs is one of several key findings in the Royal Bank/Environics home ownership attiâ€" tude survey released today. Other highlights include: * 51% of Canadians indicate they are not very or not at all knowledgeable about mortgages; * The lack of funds for a down payment and job insecurity are seen as the biggest obstacles Ownership more affordable than many believe $2176,500. 2â€"storey, 4â€"bedroom family home located near Joshua Creek. Fabulous country kitchen/family room addition with fireplace. Hardwood firs., main floor den master ensulte, private garden with Inground heated pool. Don‘t miss this one. Please call LINDA COOK®, 849â€"9800, 338â€"0907. $274,000. Ideal family home with extra 2â€"plece powder room ¢ff Ath bedroom while the master bedroom offers a large sitting area full ensuite with separate shower. Large sunny kitchen opens to family room fenced garden. Please call ANELL Presented by An Independently Owned and Operated Member of Coldwell Banker Affiliates of Canada Inc. Expect the best° WILLEKE SIMS (WILLIE) as a Sales Representative. Willie has been an award winning salesperson and brings with her 10 years of real estate experience. Clients and friends can contact Willie at 1986 Coldwell Banker Residential Real Estate. The Management and Staff of White Oaks Realty Limited are pleased to welcome Your Oakuille Specialist Stnce 1975 NEWLY LISTED ANELL FRANCIS REAL ESTATE 88 DUNN ST. OAKVILLE to buying a home; * 68% of Canadians expect mortgage rates to be higher in two years time; * Threeâ€"quarters (76%) of Canadians think parental help is necessary for the average young person to buy a home today. This jumps to 91% in both Vancouver and Toronto; * 15% say they intend to buy a home in the next two years, and 25% intend to renovate the one they have. "This survey confirms that many people don‘t realize how affordable owning a home can be compared to the cost of renting," said Colin Ballance, Royal Bank‘s Area Manager for Oakville/Milton. ‘"The reality today is that interest rates are reasonable, mortgage options and terms are flexible, and down payments can be as low as 5% of the purchase price for an insured mortgage." According to the survey, 36% of responâ€" dents mention lack of money for a down payâ€" ment as the single biggest obstacle preventing 30 T housand in upgrades â€" SPA â€" 2 Jacuzzies. Backs on park. Walk to lake. 2560 sq. ft. Great Value. PAT TAPIA* 2500 sq. ft. main fir. family laundry. Full fin. bsmnt. with 4 bdrms. kit. 3 full baths â€" close to bus GO Spacious customâ€"built Brentcliffe. Outstanding overâ€" sized windows, parkâ€"like setting â€" hardwood firs. KAREN COLLINS* Ravine end unit, needs some TLC. Sunken LR, nice DR kitchen 2+4 pc. bath. Close to school mall. PAT TAPIA* Interest rates are rising so are the Buyersâ€"Shop now for a 4 bdrm. t./home with private yard. PAT TAPIA* $269,000 ONE OF A KIND GREAT BUY AT $129,900 $105,900 TOWNKHOME Train. PAT TAPIA* people from buying homes, while 26% believe it is job insecurity, and 18% the cost of housing. No other single factor is mentioned by more than one in ten Canadians. Going into greater detail, the survey shows that women are more likely than men to believe that lack of money for a down payâ€" ment is the biggest obstacle (41% of women versus 30% of men), while men are more likeâ€" ly to mention job insecurity (28% men versus 23% for women). Unlike other Canadians, Vancouver residents mention the cost of housâ€" ing more than any other factor. Job insecurity is mentioned by only one in ten people living in Vancouver. Mortgage interest rates are menâ€" tioned by only 5% of both men and women respondents as the biggest single obstacle. The survey shows that more than oneâ€"half (51%) of all Canadians and more than oneâ€" third (or 37%) of those intending to buy a home feel they are not very or not at all knowledgeable about mortgages. Another four Beautifully upgraded/ extended home. Nicely finished loft over garage. East Oakville; Mature 75‘ x 150‘ lot. BUD FARRIS* Walk to bus, shopping, downtown. Seniors re€idence across road. 2â€"bedroom balcony security. JOAN McCOY* Roomy 4â€"level split; 3+1 bedrooms. Separate entrance to lower levels. Close to schools, shopping, transit. BUD FARRIS* Beautiful comfortable condo. 2 bedroom, 2 bath, large kitchen. Desirable place for retirees. JOAN McCOY* Nice little West Oakville starter. Quite mature street, fenced backyard. 3 bedrooms, cent. air, walk to lake. $93,500 MOVE HERE â€" BE HAPPY $179,900 EXTENDED FAMILY??? $539,000 SEEN FROM GARDEN $144,500 OVER 55 RESIDENCE $159,500 UPDATED KITCHEN BUD FARRIS* Sales Representative SUE NATYSHAK* _ DONNA NATYSHAK* Sales Representative _ Sales Representative KELLY NATYSHAK* PETER NATYSHAK** Sales Representative Associate Broker in ten feel they are fairly knowledgeable and less than 8% feel they are very knowledgeâ€" able. "Consumer demand has increased the range of rates, options, and repayment terms in order to make the Canadian dream of ownâ€" ing a home more affordable," Ballance explained. ‘"‘Unfortunately, many people may not know enough about these mortgage feaâ€" tures to understand that this dream is within their grasp." . While the survey shows that mortgage interest rates at today‘s levels are not seen as a significant obstacle to buying a home, Canadians did express concern about interest «3 rate movements over the next two years. The majority of respondents (68%) expect rates to rise; 22% believe they will stay about the same; and only 4% expect them to tall. Those living in Western Canada are most likely to expect higher rates (76%), particularly resiâ€" (See ‘Six‘ on page 26) 1 ‘p ‘At ?6 Walk to wall emenities â€" park, etc. Super private crescent. Custom built home â€" main fir. fam. rm. SUE DONNA NATYSHAK* 3â€"bdrm. townhouse â€" Excellent location. Super layout with attractive features. Must see to believe. SUE DONNA NATYSHAK* Gorgeous 18 x 38 heated inground pool. Totally updated kitchen/ baths, hardwood, ceramic â€" main fir fam. rm. KELLY PETER NATYSHAK* Totally updated 2300 sq. ft. h ome. Located on quiet crescent. Hardwood thruâ€"out and much more. KELLY PETER NATYSHAK* BUY YOUR DREAM HOME TODAY $229,900 OUTSTANDING VALUE $269,900 CENTRAL LOCATION $159,900 VALUE PLUS!!!