The,View,Of,Downtown,Hamilton,With,Some,High,Rises,And

Hamilton, Ontario, Canada

Two-bedroom condo in an upscale building in the Corktown Neighbourhood
The condo tower is the building on the left in the above picture.

These units were all priced between $300K and $400K, and I believe they will return to that range someday.

996 sq.ft. approximately, Balcony, 2 bath, 2 bedroom and almost 1,000 sq. ft.!

5 minutes to a Go Train Ride to Toronto or Mississauga
45 minutes to Toronto Pearson International Airport, 1 hr. to Toronto.

Amenities: Pool, Racquet Squash Court, Gym, Locker, Party Room, Sauna, Sun Deck/Patio, Underground Parking, Well-Managed, Security. All amenities in the area, parks, schools, shopping, restaurants, Go Train 4 minutes, have free WI-FI access between Hamilton and Toronto. etc.

Tenants include a mix of upscale professionals, young doctors, interns, nurses, seniors and retirees, young couples with a baby, single people, and couples, as well as some university students and people who work in Toronto.

Provided by:

Gary Nusca, CCIM, CIPS, REALTOR, Broker 52 Years
Bridgecan Realty Corp., Brokerage

398 Mohawk Road East

Hamilton, Ontario, Canada
L8V 2H7

Bus. 905-526-7551
Cell 416-214-4875

Condo in Upscale Building

Near St. Joseph’s hospital
150 Charlton Ave. E., Suite 402
Hamilton, Ontario

Visit website: www.hamiltontotorontorealestate.com

Click to see Link to listing

Here is a buyer-friendly version you can use:

Click to see Condo MLS 40791685

Estimated Monthly Cost

Purchase Price: $274,900
Assumed Interest Rate: 4.5%
Amortization: 25 years

Example: 5% Down Payment

Down payment: $13,745
Mortgage before insurance: $261,155
Approx. insured mortgage: $271,601

Estimated mortgage payment: $1,510/month
Condo fee: $1,000/month
Property taxes: $200/month

Estimated Total Monthly Cost

$2,710/month
Normally, before utilities, insurance, and any lender adjustments.
In the case of 150 Charlton Ave. E. includes utilities, heat, hydro, water, and those utilities included. So, really, it is like $2,400 plus utilities.

Buyer Message

For approximately $2,710 per month, a first-time buyer can own this Ontario condo, build equity instead of paying rent, and have the mortgage fully paid off over 25 years, assuming regular payments and no refinancing.

20% Down Example

Down payment: $54,980
Mortgage: $219,920
Mortgage payment: $1,222/month
Total with condo fee and taxes: $2,422/month

Important note: Final payments depend on lender approval, mortgage insurance, credit, exact rate, closing costs, and condo status certificate review.

Search conducted May 24, 2026, Hamilton 2-bedroom Condos. RESULTS.
Only 10 2-bedroom units out of 185 are under $300,000 on the MLS! And may I suggest Unit #402 is the best for the money? Why? Because it is basically 1,000 sq. ft. in a prime, upscale, glass-structured building. Used to the 3rd tallest building in Ontario west of Mississauga, with the only higher building the CN Tower and Century 21 on Main St., Hamilton. Many say it feels like a new building because of the recent improvements.

UNIT 402 For Sale is Vacant, Ready to Move In
The following pictures give you an idea of how another unit is furnished.

UNIT 402 For Sale is Vacant
The following pictures give you an idea of how it can be furnished.

Estimate for first time buyer
Estimate for first-time buyer
Here is a simple estimate for a first-time home buyer purchasing a condo at $273,900 with 5% down.
Purchase Details
Purchase Price: $273,900
Down Payment (5%): $13,695
Mortgage Amount: $260,205
Assuming:
Interest Rate: 4.5%
Amortization: 25 years
Your estimated mortgage payment would be approximately:
Monthly Costs Breakdown
Item
Monthly Amount
Mortgage Payment
~$1,445
Condo Fee
$1,000
Property Taxes
$200
Estimated Total Monthly Cost
~$2,645/month
Additional First-Time Buyer Costs to Consider
CMHC Mortgage Insurance is required with 5% down and is usually added to the mortgage.
Legal Fees
Land Transfer Tax
Home Insurance
Utilities (if not included in condo fee)
With CMHC insurance added, the mortgage payment could rise slightly to approximately:
Item
Monthly Amount
Mortgage Payment incl. CMHC
~$1,520
Condo Fee
$1,000
Property Taxes
$200
Estimated Total Monthly Cost
~$2,720/month
One important selling point:A buyer is not just paying rent — they are building equity over time while owning a property that may appreciate in value.

Item	Monthly Amount
Mortgage Payment	~$1,445
Condo Fee	$1,000
Property Taxes	$200
Estimated Total Monthly Cost	~$2,645/month

Item	Monthly Amount
Mortgage Payment incl. CMHC	~$1,520
Condo Fee	$1,000
Property Taxes	$200
Estimated Total Monthly Cost	~$2,720/month

Affordability
Affordability
For a first-time home buyer purchasing this condo, lenders usually use two affordability guidelines:
GDS (Gross Debt Service Ratio) — housing costs should generally stay under about 39% of gross income.
TDS (Total Debt Service Ratio) — all debts combined generally under about 44% of gross income.
Using your example:
Condo Purchase Example
Item
Amount
Purchase Price
$273,900
Down Payment (5%)
$13,695
Mortgage Amount
~$260,205
Mortgage Payment
~$1,520/month (including CMHC estimate)
Condo Fee
$1,000/month
Property Taxes
$200/month
Total Monthly Housing Cost
Lenders typically calculate:
Item
Monthly
Mortgage Payment
$1,520
Condo Fee
$1,000
Property Taxes
$200
Heating Estimate
~$100
Total Housing Cost
~$2,820/month

Estimated Income Needed
Using 39% GDS Ratio
The formula lenders use is approximately:
\text{Required Monthly Income} = \frac{2820}{0.39}
Result:
Required Gross Monthly Income ≈ $7,230/month
Required Gross Annual Income ≈ $86,700/year
Simple Affordability Summary
Item
Amount
Estimated Total Monthly Housing Cost
~$2,820
Estimated Income Needed
~$86,000–$90,000/year

Important Notes
A buyer may still qualify with lower income if:
They have little or no other debt
Strong credit score
Larger down payment
Co-borrower/spouse income
Lower interest rates
Gifted down payment from family
If the buyer has:
Car payments
Credit card debt
Student loans
then the required income would likely need to be higher.
Helpful Selling Point
This condo may appeal to:
First-time buyers wanting ownership instead of renting
Retirees wanting predictable housing costs
Investors looking for long-term appreciation
Buyers seeking lower purchase price entry into the market
You can also explain:
mortgage paydown,
equity growth,
and possible appreciation over 25 years,which helps buyers understand the long-term financial benefit of ownership.

Item	Amount
Purchase Price	$273,900
Down Payment (5%)	$13,695
Mortgage Amount	~$260,205
Mortgage Payment	~$1,520/month (including CMHC estimate)
Condo Fee	$1,000/month
Property Taxes	$200/month

Item	Monthly
Mortgage Payment	$1,520
Condo Fee	$1,000
Property Taxes	$200
Heating Estimate	~$100
Total Housing Cost	~$2,820/month

Item	Amount
Estimated Total Monthly Housing Cost	~$2,820
Estimated Income Needed	~$86,000–$90,000/year

Mortgage Amortization Schedule

Mortgage Amortization Schedule

Using the same example:

Purchase Price: $273,900
5% Down Payment: $13,695
Mortgage Amount: $260,205
Interest Rate: 4.5%
Amortization: 25 Years
Estimated Mortgage Payment: ~$1,445/month(approximately $1,520/month if CMHC insurance is added)

Here is a simplified mortgage payoff example showing how the balance drops over time.

Approximate Mortgage Amortization Schedule

Year	Mortgage Balance Approx.	Principal Paid Off
Start	$260,205	—
After 1 Year	~$254,700	~$5,500
After 3 Years	~$243,000	~$17,200
After 5 Years	~$229,500	~$30,700
After 10 Years	~$189,000	~$71,200
After 15 Years	~$137,000	~$123,200
After 20 Years	~$71,000	~$189,200
After 25 Years	$0	~$260,205

What Happens Over Time

In the beginning:

More of the payment goes toward interest.
A smaller portion reduces the mortgage balance.

Later in the mortgage:

More of the payment goes toward principal.
The balance starts dropping much faster.

Example of One Monthly Payment (~$1,445)

Early Years:

Interest: about $975
Principal: about $470

Later Years:

Interest decreases.
Principal repayment increases.

By the final years:

Most of the payment goes directly toward paying off the mortgage balance.

Total Paid Over 25 Years

Approximate totals:

Item	Amount
Mortgage Borrowed	$260,205
Total Mortgage Payments	~$433,500
Approximate Interest Paid	~$173,000

Important Selling Point for Buyers

Even though the total monthly cost may be around:

$2,645–$2,720/month including condo fees and taxes,

part of the mortgage payment is building ownership equity every month instead of paying rent to a landlord.

Over time:

Mortgage balance decreases
Equity increases
Property value may appreciate
Mortgage eventually gets fully paid off

That is one of the biggest advantages of ownership for a first-time buyer.

Stress Test
Stress Test
Yes. In Canada, federally regulated lenders require buyers to qualify using the mortgage stress test.
The buyer must qualify at the greater of:
their actual mortgage rate + 2%, OR
the Bank of Canada qualifying rate.
If the actual mortgage rate is 4.5%, then the stress test would be approximately:
4.5% + 2% = 6.5%
So even though the buyer pays payments based on 4.5%, the lender qualifies them as if payments were at about 6.5%.
Condo Example With Canadian Stress Test
Purchase Information
Item
Amount
Purchase Price
$273,900
Down Payment (5%)
$13,695
Mortgage Before CMHC
~$260,205
Mortgage With CMHC Approx.
~$270,600

Monthly Mortgage Payment Used for Qualification
At the stress-test rate of approximately 6.5% over 25 years:
Stress-test mortgage payment ≈ $1,825/month
Total Housing Costs Used by Lenders
Item
Monthly
Stress-Test Mortgage Payment
~$1,825
Condo Fee
$1,000
Property Taxes
$200
Heating Estimate
~$100
Total Housing Cost
~$3,125/month

Income Required Under Canadian Stress Test
Using the common Canadian GDS guideline of approximately 39%:
\text{Required Monthly Income} = \frac{3125}{0.39}
Result:
Item
Amount
Required Gross Monthly Income
~$8,013
Required Gross Annual Income
~$96,000/year

Realistic Qualification Range
Most lenders would likely want this buyer to earn approximately:
$95,000–$105,000 per year
depending on:
credit score
other debts
heating costs
exact condo fee treatment
lender guidelines
property tax amount
current qualifying rate
Important Observation About This Condo
The large condo fee of:
$1,000/month
has a major effect on affordability.
Even though the purchase price is relatively affordable, the condo fee significantly increases:
required income
stress-test qualification difficulty
debt-service ratios
Example Comparison
Scenario
Approx Income Needed
Without Stress Test
~$87,000/year
With Canadian Stress Test
~$96,000–$105,000/year

Very Important Sales Insight
Many first-time buyers focus only on:
purchase price
mortgage payment
but lenders qualify buyers based on:
stress-tested payments
condo fees
taxes
heating
all monthly obligations
This is why buyers are often surprised they qualify for less than expected.

Item	Amount
Purchase Price	$273,900
Down Payment (5%)	$13,695
Mortgage Before CMHC	~$260,205
Mortgage With CMHC Approx.	~$270,600

Item	Monthly
Stress-Test Mortgage Payment	~$1,825
Condo Fee	$1,000
Property Taxes	$200
Heating Estimate	~$100
Total Housing Cost	~$3,125/month

Item	Amount
Required Gross Monthly Income	~$8,013
Required Gross Annual Income	~$96,000/year

Scenario	Approx Income Needed
Without Stress Test	~$87,000/year
With Canadian Stress Test	~$96,000–$105,000/year

ALL ABOUT HAMILTON

LINKS

Corktown is one of Hamilton’s oldest and most historic neighborhoods. Bounded by Main Street East to the north, Wellington Street to the east, the Niagara Escarpment to the south, and James Street South to the west, it is a highly walkable community famous for its 19th-century charm, rich diversity, and proximity to downtown. [1, 2, 3, 4]

Key Features of Corktown

History & Character: Originally settled by Irish immigrants in the 1800s, the area features beautiful historic row houses and deep working-class roots.
Transit & Commuting: Highly convenient for commuters, housing the Hamilton GO Station (formerly the TH&B station) and providing quick access to local public transit.
Green Space & Outdoors: Residents enjoy multiple local green spaces, notably Corktown Park and Shamrock Park, which feature playgrounds, basketball courts, and direct access to the Escarpment Rail Trail.
Local Amenities: The neighbourhood is situated right next to St. Joseph’s Hospital and is famous for its vibrant pub culture, including the longstanding Corktown Pub.
Community Engagement: The active Corktown Neighbourhood Association frequently organizes local events and acts as an advocate for community stewardship. [1, 2, 3, 4, 5, 6, 7, 8]

For active real estate listings and market trends, you can explore the REALTOR.ca Corktown Listings. To learn more about community initiatives, stay connected via the Corktown Hamilton Facebook Page. [1, 2, 3]

Investinhamilton.ca

Durand Neighborhood

https://nexthome.ca/neighbourhoods/durand/23981/

Hamilton City Hall Website

Key pillars of Hamilton’s identity include:

The Waterfall Capital: The Niagara Escarpment runs through the city, featuring over 100 distinct waterfalls. Popular spots include Webster’s Falls, Tews Falls, and Albion Falls.
Industrial Heritage (“Steeltown”): Home to massive steel producers like Stelco and Dofasco, the city has deep working-class roots.
Arts & Culture: Hamilton is known for its thriving arts scene, highlighted by the annual Supercrawl arts and music festival and the Art Gallery of Hamilton.
The Birthplace of Tim Hortons: The first-ever Tim Hortons location opened on Ottawa Street North in 1964.
Vast Nature & Trails: Criss-crossed by the 900+ km Bruce Trail, it offers extensive outdoor and hiking recreation.
Historic Landmarks: The city features major attractions like the Canadian Warplane Heritage Museum and the Hamilton Farmers’ Market, which has been operating since 1837.
Tourism Hamilton +5

Things To Do

Millionaires buy real estate in both high- and low-market conditions, but they adjust their strategies depending on economic conditions. Wealthy investors prioritize deals that generate reliable cash flow and equity rather than attempting to perfectly “time” the peaks and valleys. [1, 2, 3, 4]

Their primary approaches to market cycles include:

1. Buying When Prices Are Low (Downturns and Recessions) [1, 2, 3]

Bargain Hunting: Many millionaires act as bargain hunters during recessions, foreclosures, or estate sales to secure properties significantly below market value.
Less Competition: They frequently buy during quieter periods—such as the late fall and winter in local markets like Hamilton—when there is less buyer competition and more motivated sellers.
Capitalizing on Cash: Because they have high liquidity, wealthy buyers are well-positioned to take advantage of discounted prices without relying as heavily on standard mortgages. [1, 2, 3, 4, 5]

2. Buying When Prices Are High (Booms and Stable Markets)

Focus on Fundamentals: In strong markets, millionaires rely on the fundamentals of a “good deal” rather than waiting for crashes. They target cash-flowing assets where the rental income comfortably covers all expenses, taxes, and maintenance.
Leveraging Existing Wealth: Instead of cashing out stocks or bonds, they frequently use their existing portfolios as collateral for interest-only loans. This allows their other investments to continue compounding while they acquire property.
Focus on Long-Term Value: Institutional and high-net-worth buyers prioritize prime locations with long-term appreciation potential and limited construction supply. [1, 2, 3, 4, 5]

To explore current local trends and specific property data, review the market reports on the Canadian Real Estate Association (CREA) to understand how timing affects your own investment goals. [1, 2, 3]

Call Gary Nusca, CCIM, CIPS

Broker

Bridgecan Realty Corp. Brokerage
416-214-4875