List Price: $474,000
Minimum Down Payment: $23,745
Minimum Mortgage Payment: $2,1o1
This is a great #firsthomefriday because it allows us to explore adding a rental suite to your first property. A lot of people consider a rental suite a headache, but I’d like to explore some of the benefits that can come from thinking about “the bigger picture” as you purchase your first home.
What if you could add $800 dollars to your mortgage payments each month for the 5 year term of your mortgage? If you rented the suite, collected $800/month, and made a commitment to paying $2,901 instead of $2,101 each month…at the end of your term…instead of having 20 years left to pay your mortgage…you’d only have 16! This is literally allowing you to pay your mortgage down nearly TWICE as fast.
How about investing $800/month for 5 years? What does that look like for you? (It looks pretty good to me)! Want me to run those numbers for you? Call me!
Maybe, you just want to work 1 week less each month, and spend a little extra time with the people you love, would $800/month allow you more time to do that?
Maybe you have aging parents that need to be closer to you, maybe you work full time and you need space for a live in nanny…
Suited properties offer endless positives. If you want to talk about the “real life” and financial benefits for your specific situation I’d love to connect and brainstorm!
**Open house Saturday Mar 17, 2-4pm**RENOVATED 4 bed/2.5 bathroom bungalow with suite (illegal) in beautiful, sought after Bonavista Downs. This home has been completely transformed with a new kitchen, flooring, paint, lighting, baseboards & much more. The focal point of the home is the stunning white kitchen that has been opened up to the dining room & living room to create a bright, spacious floor plan perfect for entertaining. The kitchen offers an abundance of cabinet space, mosaic tile backsplash & stainless steel appliances. The master bedroom features a new 2pc ensuite & patio doors leading to the hot tub. Completing the main floor is 2 large guest rooms & a 4pc bath with jetted tub. The basement is developed with a kitchen, large bedroom, living room, shared laundry & lots of storage. The huge south facing backyard is beautifully landscaped with mature trees, shrubs & patios. The front has new grey rundle rock. Completing this incredible house is the massive heated, 26×28 garage with 220v.