Realestate, Mortgage and Home owners discussion

[jeSteR]

Tearing down and framing up new walls (except load bearing ones) isn't hard either... just something to keep in mind when you're visualizing space in older floorplans.

[Duncan]

yup, i should credit my experience working with dave. I have a pretty good idea how to visualize space w/ or w/o walls because of all the drawings i've worked on. So many times i would wonder why the architect made such dumb designs.

[nature boy]

[Wetundies]

any of them need to buy some lights or have clients that need lights?

[Duncan]

you offering up their services at discount? haha

[nature boy]

i have a feeling they all have enough lights, thanks.

and no, i'm not offering anything, i'm just saying it sure is nice to have connections haha.

[jeSteR]

[joel]

any clue on the required deposit for the pre-sale? 10%? are you planning on purchasing any units as an investment?

[geForce]

I believe presale deposits are 10% initially, then you still have to pay a certain percentage more each year until the completion date.
I'm not sure if this goes towards your mortgage as a downpayment though, or if it's taken off the final sale price.

[jeSteR]

10% deposit and another 10% 180 days after... then balance at possession... oh yeah, and the HST incentive applies... 2% only

Always looking, if the rental can offset the interest and some principle, then absolutely. I figure we'd probably split a $400K place with the sis, then the $1200-$1400 rent would cover the $700/ month in interest and the rest would go toward principle.

[Wetundies]

Unit's are pretty small, but then ur in kits.

[jeSteR]

Yeah... it's RIGHT IN THE HEART OF KITS man. In my opinion, it's better than the ones along the beach. From here, it's a half block walk to ANYTHING and a 5 block walk to the beach. Vice Versa would make carrying groceries etc etc a pain in the ass with a 5 block walk.

[joel]

oh man 20% within 6 months. that'll be tough for me to muster up by myself. any rules regarding resale of the deposit on a unit?

[jeSteR]

[joel]

anyone else on the forums want to split a unit for resale?