76 — Friday, May 2, 1997 — North Shore News

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EAL ESTATE

Record
setting
centres

From page 62

summarizes new research on
down payment affordability
and home ownership.
Te concludes there is not so
much a down payment prob-
lem as a down payment
awareness problem. Many
potential buyers overestimate
the down payment required
to purchase their first home.
To eliminate this miscon-
ceprion, CMHC has, for the
first time published a table
showing the minimum dawn
payments required ro buy
starter homes in Canada’s
major centres. It shows aver-
age down payments (at five
percent down) ranging from
$8,253 in Victoria to $3,156
in Charlottetown.
A third = article in
Canadian Housing Markers
releases new information on a
study of certain mandatory
new home costs thar can have
an effect on affordability. It
points out the cross-Canada
variation in these costs,
reflects differing house prices,
how local = development H
charges and taxes are applied, A wombling Wa iker
and who installs infrastruc-
ture. FOUR-YEAR-OLD Bonnie Walker plays in a “wombier” during a recent birthday party held in the gym at Ron Andrews recreation centre.

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925-1111

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