If you are planning to sell your current house to buy another one (big or smaller) in Ontario, here is a file that I created to help me to understand my negotiation ranges, and can help you to analyze the financial impact and take a better decision.
You need to fill the yellow cells with the information from your own situation. You can save the file for yourself and play with different scenarios in order to understand the financial implications. In my case, I wanted to understand what the incremental cost of my monthly payments under different scenarios would be, and what would be a maximum price I can offer for a new property.
Hope this file can help you, and please understand that it is not my intention to replace the advice of your mortgage analyst or financial advisor.
