With a total household income of only $75,000 per year, and no other debt, you could own this amazing home!
Minimum down payment (5% of the purchase price) would be $17,950. If you’re a first time home buyer, this down payment could come from your RRSP’s, from a gift from a family member or, if your house hold income is around $100,000/year, you could even borrow the down payment from a line of credit!
A variable rate mortgage at today’s interest rates would make for a minimum monthly payment of $1,580.
To rent this beautiful home, over 1625 square feet, with a double car garage, you’d be looking at about $1895/month. Let’s do the math, if you rented this home for 5 years you would spend a total of $113,700 on rent. 100% of that money would go to padding your landlord’s pockets.
Think about this: if you purchased this home, your payments over those 5 years would total $94,805, but of those payments, $54,791 would go to REDUCING the mortgage! Basically, what I’m tellin’ ya is that $54,000 would go RIGHT back into YOUR pocket!
Basically, what I’m tellin’ ya is that $54,000 would go RIGHT back into YOUR pocket!
Here’s what realtor.ca has to say about this adorable home!
OVER 1,625+ square feet of developed space in this lovely family home! Fantastic location on a quiet street in the fabulous neighbourhood of McKenzie Towne. Check out the photos! There are 4 bedrooms and 3 bathrooms in total. Electric fireplace in the Living Room. The large Master Bedroom has a walk-in closet and the 2 additional upstairs bedrooms are very spacious. The open kitchen with a very workable island and decent cupboard storage has large patio doors leading outside to a huge deck with lots of room for barbecuing and entertaining friends and family. There’s a Hot Tub and a Fire Pit too! Even with a Detached Double Garage, the extra deep backyard still has lots of room for play space. The fully developed basement has yet another bedroom and a 3 piece bathroom. Easy access to lots of shopping and all essential services. Playgrounds, parks and green spaces are close by as well. This is a great family home in a sought after community with lots of room to grow. Book your private showing today!