You’re working toward purchasing your first home; trying to save a down payment. But once your rent is paid, and with all the other costs of life, the amount you’re able to put aside is much less that you’d like.
What if every dollar spent putting a roof over your head also went toward a down payment when you took ownership of your place?
Choose your suite at Mont Blanc. Enroll in the Lease-to-Own Program for First-Time Homebuyers.
Your occupancy fee (aka your “rent”) is determined as a percentage of your suite’s purchase price. For 24 months, you pay your occupancy fee and every dollar will be used toward the down payment of your new home. 100%. Every cent.
And bonus: our 2-bed / 2-bath Layout D meets the qualifications for the Provincial First-time Homebuyers Program.
Let’s say you choose a 1340 sf 2 bed + den, 2 bath suite and an interior parking & storage space for one vehicle. The price: $600,000.
To begin with you provide a deposit of 3% of the purchase price. Deposit amount: $18,000
Then, your occupancy fee is calculated at 0.50% of the purchase price. Monthly occupancy fee: $3,000
In two years’ time when you close on your new home, you will have:
$3,000 x 24 months = $72,000 plus your $18,000 deposit.
Total to put toward your purchase: $90,000.
Every dollar you pay to live in your home goes toward the purchase of your new condo.
You become a homeowner faster.
Cut down on the time needed to save when your housing cost is just an expense going into someone else’s pocket; with this program, you’re already building equity, investing in your own place.
