www.hotpropertybuy.com
Why pay $1500 or more rent? It makes more sense to put this money towards living in your own house and accumulating equity through mortgage paydown, and also through equity accumulation, thru house value increases over time.
In Brampton, GTA, for example, a first time buyer may be able to purchase a 4 bedroom detached home for as little as $279000. see my listing April 16 2008 under www.hotpropertybuy.com
If you were to come up with $20,000 you may obtain a 4.75% closed variable 5 year term with a 40 year amortization and pay approximately $1500 with principal and interest and realty (city) taxes INCLUDED. With a good credit score, several big financial institutions will offer these rates today, and rates are expected to fall at least another half a point by June 2008.
This same home commands about $1500 a month rent for a smart LANDLORD. BUT, do you want to rent? Why not be your own landlord?
For more pros and cons about owning your first real estate investment,or to find out about zero down payment options for home ownership, call Oliver Teekah, Broker, Re/Max Realty Specialists Inc, Brokerage. 905 272 3434 or direct 416 566 7653 www.hotpropertybuy.com
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