How Much House Can I Afford in Georgetown, Ontario?

One of the first questions I hear from buyers is: “How much house can I actually afford in Georgetown?”
It’s a smart question — and the answer depends on more than just your income.

As a local Georgetown real estate agent, I help buyers break this down every day so they can shop with confidence, avoid surprises, and make strong offers when the right home comes along.

The Quick Answer (Most Buyers Are Searching This)

Most lenders in Canada use a simple rule of thumb:

• Your housing costs (mortgage, property taxes, heat, and half of condo fees if applicable) should generally stay under 39% of your gross household income

• Your total debt load should stay under 44%

But here’s the thing most online calculators miss: what you qualify for and what you’re comfortable with are often very different numbers.

What Determines How Much House You Can Afford in Georgetown?

Here are the biggest factors that matter in today’s Georgetown market:

1. Your Down Payment

• 5% minimum for homes under $500,000

• 10% on the portion between $500,000–$999,999

• 20%+ gives you more flexibility and lower monthly payments

2. Your Household Income & Debts
Car loans, credit cards, student loans, and even lines of credit all affect affordability.

3. Interest Rates & Stress Test
You must qualify at the higher of the contract rate or the stress-test rate, which reduces buying power compared to a few years ago.

4. Property Type in Georgetown
Townhomes, semis, and detached homes all come with different price points, taxes, and maintenance costs — which directly impact affordability.

Real Talk: What This Means for Georgetown Buyers

In practice, many Georgetown buyers find they’re most comfortable buying below their maximum approval so they can still enjoy life, travel, and handle rising costs without stress.

That’s why I always recommend getting two numbers:

1. What the bank says you can afford

2. What you feel good paying monthly

The Smart Next Step

If you’re wondering “How much house can I afford in Georgetown?”, the fastest way to get a real answer is a custom buyer affordability breakdown — not a generic calculator.

I’ll walk you through:

• Real Georgetown home prices

• Monthly payment scenarios

• A clear buying range that actually makes sense for your lifestyle

? Thinking about buying in Georgetown?
Call or text me for a no-pressure buyer consultation and let’s figure out your real number before you start house hunting.