Hello everyone! As promised I am continuing my TRIBUTE TO THE RENTER. Last week we discussed and outlined the cost to purchase a Condo and this week I will be highlighting the purchase details of a Townhouse. Read below!
TOWNHOUSE PURCHASE
Purchase Price - $325,000 (3 bedroom Townhouse)
Min 5% Down Payment - $16,250
Mortgage with Insurance Premium - $317,858
Mortgage Rate- 3.79% (there are lower rates out there but I'm being conservative)
Amortization - (length to pay off the loan) 30 Years
PAYMENT: $1474 Month
So once again I ask the question..... WHY ARE YOU RENTING?
Consider purchasing a condo or townhome and Own for a similar price if not less than renting!
If your single considering renting out one of the rooms to a room mate for $500 month. This is what I did for 4 years before I got married and it worked great.
The average property goes up 6-8% a year and sometimes more. So why not consider paying yourself the rent instead of the landlord!?
But Lacey, I don't have enough for a down payment. That's okay! Ask me about our Partnership program that we offer a few select clients per year.
Call 604-910-LACE (5223) with your questions.
It's worth at least a phone call :)
LACEY
