Are you financing or using all cash ?
If financing it needs to account for lender fees, interest and other expenses.
It would be traditionally financed. The carrying cost is the mortgage. I didn't add the utility expenses. I'm expecting to be less than 30 days of renovations.
For the realtor fee's on closing you have to pay HST, it would be another $2275
wow .. that would only be a 70k house here