Average Expenditures First 3 Years Of Owning a Home

According to Statistics Canada the average Ontario home owner spends $15,875 in the first 3 years of a home purchase. As well within those first 3 years those same Ontario home owners will spend $6,325 on furniture and appliances. The spin off benefits from resale homes certainly provides a significant contribution to our local economy. Consider this: Year to date as of Oct 2010 16,984 homes/condos have been sold with theToronto Real Estate Board, meaning over 3 years $269 million dollars will be pumped into renovations and over $100 million in furniture and appliances sales. This money stays in our communities and provides jobs and other economic spin offs.