Condo is a great way to enter the real estate market and be a homeowner. You can be a homeowner for $1000 a month. Please check this out:
This condo is located at Highway 97 and Pandosy. It’s a 1 bedroom, 1 Bath top floor unit with a view of Mill Creek from balcony. It’s located just a short walking distance to downtown core, beach access and Kelowna General Hospital. Great opportunity at an affordable price, rentals allowed and pets too (with a few restrictions). It’s approximately 625sq. The strata fees are only $189.23 and property taxes - $911.53/yearly.
Listing price: $165,000
Down payment (5%): $8,250
If you put less than 20% down, you have to pay CMHC. In our example, it will be additional of $5,643(3.6% with traditional down payment) added to your mortgage amount.
Monthly mortgage payment: $727 (based on 5% down, 325 years of amortization, 2.49% interest rate and 5year fix term)
Property taxes: $76/ monthly
Strata fees: $189.23
For only $1000 a month you can live in your own condo.
Let’s work together on creation and realization your real estate dreams))))
Lake Okanagan Realty Ltd.