Mona and her former partner purchased a three-bedroom, two-bathroom duplex in Toronto’s west end for $1.25-million in August 2023, according to The Globe and Mail.
At the time of the purchase, Mona made $60,000 annually while her then-partner earned close to $80,000, The Globe and Mail reported. The couple made a 20-per-cent down payment of $250,000, splitting the amount equally after saving for years.
Lenders factored rental income from the two tenanted units into the mortgage application, which allowed the couple to borrow more than they otherwise could, The Globe and Mail reported. Mona also acted as the purchasing agent for the transaction, forgoing her commission to reduce the purchase price from $1.29-million down to $1.25-million.
They secured a three-year fixed-rate mortgage at 4.89 per cent with a 30-year amortization, resulting in monthly payments of $5,260, according to The Globe and Mail. Refinancing in June lowered those monthly payments to $4,800.
The couple broke up a year after purchasing the property, before they could move in or complete planned renovations, The Globe and Mail reported. Mona moved back in with her parents temporarily because the property’s value had dropped to less than $1.1-million.
When one tenant moved out in October 2025, Mona and her ex began renovating the vacant unit by replacing flooring, removing walls, and upgrading appliances, The Globe and Mail reported. Mona moved into that unit in January while work continued.
It’s a very expensive learning lesson,
Mona told The Globe and Mail, describing the experience as the hardest thing she has ever gone through.
Mona lives in one unit alone, managing expenses, renovations, and upstairs tenants while continuing to share ownership with her ex, according to The Globe and Mail. The remaining rental unit generates $2,300 monthly, and her ex contributes $400 monthly because he states he cannot afford to pay more.
Ongoing monthly and annual costs for the duplex include $4,800 for the mortgage, $110 for home insurance, and $6,000 annually for property taxes, The Globe and Mail reported. Additional utility costs run between $150 and $250 for hydro, $120 to $150 for gas, $150 for waste, and $120 for WiFi.
Mona chose not to sell the property because its market value dropped to less than $1.1-million, meaning she and her ex would each walk away with only about $61,000 after selling costs, The Globe and Mail reported.
The purchase price was $1.25-million with a $250,000 down payment, alongside closing costs that included legal fees of approximately $5,000, moving costs of $600, land transfer tax of $21,475, $100,000 in repairs, $10,000 for furniture, and a $550 home inspection, according to The Globe and Mail.
Mona hopes to rent out her current unit by the end of the year before relocating to the United States for work, while stating she would ultimately prefer to sell the house despite ongoing financial concerns, The Globe and Mail reported.
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