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There are many costs to be accounted for when estimating your annual housing expenses. A property owner is responsible for handling paperwork, finding a tenant and making repairs, as well as covering all the costs that come with owning and maintaining the property, including any mortgages, taxes and utilities. Plan ahead and be prepared for housing costs.

Visit GetSmarterAboutMoney.ca to learn more about budgeting and other financial topics. The budget worksheet may be a helpful tool as you move forward. Speak to a financial professional if you require advice that fits your personal and financial situation.