National home prices continued to rise in February, but the Canadian Real Estate Association (CREA) said Friday that evidence pointed to a market that was “topping out.” That wording differs from a Re/Max report also this week that predicted a “heated” spring market nationally, with demand continuing to push sales and prices upwards, as bidding […]
Home prices could soon be “topping out”!
Condo resale prices in Ottawa
The average resale condominium apartment price in Ottawa is currently hovering around the $290,000 mark and commanding a monthly mortgage carrying cost, not including condo fees, upward of $1,450. Since the average two bedroom rent for privately initiated apartment units remained 25 per cent more affordable, some young households are remaining in rental accommodation longer. […]
How do you make money?
The investor makes a little to no money on the monthly rent, but what they make their money on is when the tenant exercises the option to purchase the home.
What is Rent to Own?
Most Rent to Own programs requires a small down payment and to put a portion of monthly rent to accumulate for the eventual purchase of a home, usually for about three years, at which point the renters would have accumulated the minimum down payment required to qualify for a mortgage. Homeowners should keep in mind […]