afford

Downtown Living

What would you do with an extra $300 a month?

We hear from people all the time that say "How can I afford to live downtown? Especially in a luxury condominium!" - and we always have to give the same answer... How can you afford to NOT live downtown!?

On this page, you'll find a chart detailing the average costs associated with owning a single family home and how you could save over $2300 a year by owning a River House condominium! And iif you live downtown and work downtown, the savings are even greater! Say you currently commute just 35 miles a day round trip, you could save nearly $1300 a year in gas! Combine that with the $2300 above and you're saving $3600 a year! That's $300 a month!

Be sure to check out the mortgage calculator to get an idea of your monthly payments, and then Contact Us so we can schedule a time for you to come in, see the model, tour the building, and get you pre-qualified!

*Annual Cost for River House Condo vs. Single Family Home*
Based on professional estimates for a 2000 sq ft home

	Single Family Home	River House Condo
Water/Sewer (3mos $125 + 9 mos $40)	$735.00	$0.00
Heating &Cooling (avg $150mo.gas & electric)	$1,800.00	$1,300.00
Insurance (sf in burbs $663/yr or Condo $234/yr)	$663.00	$234.00
Trash Removal (avg $25 per month)	$300.00	$0.00
Security System ($50 per month)	$600.00	$0.00
Pest Control ($25 per month)	$300.00	$0.00
Snow Plow ($25 x 20)	$500.00	$0.00
Lawn Maintenance
Mowing ($25 x 28)	$700.00	$0.00
Fertilize/Weed ($65 x 6)	$390.00	$0.00
Pruning ($50 x 2)	$100.00	$0.00
Bed Weeding ($35 x 5)	$175.00	$0.00
Bed Bark ($300 x 1)	$300.00	$0.00
Spring/Fall Cleanup	$150.00	$0.00
Irrigation system start-up and shut-down ($50x2)	$100.00	$0.00
Home Maintenance
Replace Roof ($8,000 1 time in 15yrs)	$533.33	$0.00
Repaint/Reside ($11,000 1 time in 30 yrs)	$366.67	$0.00
Window Washing ($250 x 1)	$250.00	$0.00
Weather Treat Deck ($400 x 1)	$400.00	$0.00
Cleaning Gutters (do it yourself - no charge - ick)	$0.00	$0.00
Driveway Replace (12,000 - 1 time in 30 years)	$400.00	$0.00
Gym Membership	$1,000.00	$0.00
Hot Tub Maintenance ($400yr chem + $300yr heat)	$700.00	$0.00
Pool Maintenance ($500yr chem + $1000yr heat)	$125.00	$0.00
Condo Association Fees (.2791 per sq ft)	$0.00	$6,698.40
Annual Cost	$10,588.00	$8,232.40
Average Monthly Cost	$882.33	$686.03
Average Cost Per Square Foot	$0.44	$0.34

Yearly Savings		$2,355.60

Annual Fuel Savings Chart

Daily Miles

Yearly Miles

Yearly Gallons

Yearly Fuel Cost

Yearly Oil Changes

Total Yearly Savings

5

1300

59.1

$162.50

$0.00

$162.50

10

2600

118.2

$325.00

$0.00

$325.00

15

3900

177.3

$487.50

$50.00

$537.50

20

5200

236.4

$650.00

$50.00

$700.00

25

6500

295.5

$812.50

$100.00

$912.50

30

7800

354.5

$975.00

$100.00

$1,075.00

35

9100

413.6

$1,137.50

$150.00

$1,287.50

40

10400

472.7

$1,300.00

$150.00

$1,450.00

45

11700

531.8

$1,462.50

$150.00

$1,612.50

50

13000

590.9

$1,625.00

$200.00

$1,825.00

55

14300

650.0

$1,787.50

$200.00

$1,987.50

60

15600

709.1

$1,950.00

$250.00

$2,200.00

65

16900

768.2

$2,112.50

$250.00

$2,362.50

70

18200

827.3

$2,275.00

$300.00

$2,575.00

Average MPG used in calculations = 22

Average Cost Per Gallon used = $2.75

MORTGAGE CALCULATOR

Mortgage Data:
Condo Price:

Down Payment:

Interest Rate: %

Term (in years):

Results:
Mortgage Principle:
Total Payments:

Monthly Payment:

A Robert Grooters Development • 335 Bridge Street • Grand Rapids, MI • 616.726.2900 • Site design by Sam Reynolds