Rentals Available

[babymaeby]

Have you seen how many rentals are now posted on kijiji?

There are 3 in the townhouse area alone...

http://cambridge.kijiji.ca/f-mill-pond-Classifieds-W0QQisSearchFormZtrueQQCatIdZ0QQKeywordZmillQ20pon d

:mad:

[gagnon777]

smart peeps.... property is an investment and they're smart to buy and have someone else by their mortgage!

[Gillian & Mike]

Oh No! I thought that would happen. It is a great investment, as long as they aren't renting them out to students who party all time, I'm ok with it.

[justmed]

when I was a student I wasnt renting 1200 plus places... that was precious beer money :D

Kinda figured you'd get some renters, people using it as investments. If we could do the same thing we would

[Gillian & Mike]

when I was a student I wasnt renting 1200 plus places... that was precious beer money :D

Kinda figured you'd get some renters, people using it as investments. If we could do the same thing we would

That's true, unless they have 3 or 4 students sharing the house then it's affordable. But the odds are probably in our favor.

[Style]

smart peeps.... property is an investment and they're smart to buy and have someone else by their mortgage!

Could work both ways! Be positive or it could backfire and they could ultimately destroy your house ie floors, walls etc! its always important to consider who you rent to as there is no telling what you will get! The money is great but there is nothing better then moving into a new home!:)

[Style]

Holy mackarel for the amount of money these people are asking you can surely carry a house for the same or less! Waste of money IMHO but if people have money to burn i guess they could see it being good but I see it as nothing more then someone taking like 20,000 off their mortgage in one year! :) Then they will show you the door! Also can be seen as a good investment i suppose!

[anxious_f]

Smart investment on the side of the owner, of course.

The renter, however, may have no choice but to rent. They might work in a type of industry where they cannot get approved for a mortgage, but they have the money to pay for one. I have known a couple of people to pay in excess of $1600 per month for renting a house. They wanted a nice looking place to live, but because they were self-employed and did consulting (contract) work, they could not get approved for their own mortgage.

With what is happening in the housing market in the US and with Canada tightening its mortgage laws, it will be more difficult for people to get approved for mortgages. This is the perfect time to get into owning a rental property, if you can afford it and have the time to be a landlord.

We are considering keeping our current home and renting it out, rather than selling it. In large part because we could get a fair bit more for it in another couple of years, but also because I would like to get into real estate investing in the next few years.

[Style]

Anxious I remember you were trying to get out of your house deal with mattamy for tehe Thompson that you bought and then go up to something else! If you indeed rent this one out, did you or are you gonna purchase a different style from the Mill pond! Like you said if you can afford it and the right renters come in and carry that whole house in essense you are in great shape down teh road if you ever want to flip that house!:)

I guess Mattamy is very strict on their policies after sales!

[anxious_f]

We WERE trying to get rid of our Thompson shorthly after buying it and trading up for a 43' lot. Mattamy would not allow us to do it, but we are still very happy with our home and were not disappointed by their decision.

I mean that we are considering keeping the house that we are presently living in as a rental, not the Mattamy one.

Truthfully, anyone looking to rent their Mattamy COULD do well, if they put enough money down on it. Any of the people looking to SELL immediately after close are in big trouble. In UCC the people who bought the first pre-construction homes, had their value increase by between 20-30K by the time that they moved in.

This obviously won't be the case with us. Partially because Mattamy overpriced their homes a bit for this community (for pre-construction pricing) and partially because of the downturn in the economy. It will balance out, however, and within a few years we'll see that increase, plus some.