341 Melvin
Sudbury, Ontario P3C4X2
1 bed• 1 bath
Description
Why rent when you could own? This cute and affordable one bedroom home offers a great opportunity to get into the housing market at a price that could make owning cheaper than renting! Featuring a number of updates, a functional layout and a convenient central Sudbury location, this home has plenty of potential. The unfinished basement, accessible through a separate entrance, offers the opportunity to create additional living space, add a bathroom or explore the possibility of a second unit. Whether you’re a first time buyer, downsizing or looking for an investment opportunity, this property is worth a look! (id:39198)
Facts & Features
● Building Type
House
● Year built
--
● Square Footage
under 1/2 acre
● Stories
1
● Bedrooms
1
● Bathrooms
1
● Parking
--
● Neighbourhood
--
● Land size
--
● Heating type
High-Efficiency Furnace
● Basement type
Full
● Parking Type
--
● Time on REALTOR.ca
0 days
Home price
$260,000
Initial Deposit
I want to start the program with
an initial down payment of
Minimum 2% of the home price or $5,000 whichever is higher
The higher the initial deposit, the lower the monthly payments
Your Monthly Payment
$2,351/month
The payment includes
Rent
$2,072
Rent is rent and it won't be deducted from the buyback price.
Monthly Savings
$279
Each month, $279 is set aside toward your homeownership goal in addition to your initial down payment. This mandatory monthly savings help you achieve your savings goal.
Buyback
Here is the final price if I buy the house after:
Buyback Price
$300,983
Cumulative Down Payment
$15,049
• Initial Deposit
$5,000
• Monthly Savings x 36 months
$10,049
Buyback Price
$273,000
Cumulative Down Payment
$8,350
• Initial Deposit
$5,000
• Monthly Savings x 12 months
$3,350
Buyback Price
$286,650
Cumulative Down Payment
$11,699
• Initial Deposit
$5,000
• Monthly Savings x 24 months
$6,699
Buyback Price
$300,983
Cumulative Down Payment
$15,049
• Initial Deposit
$5,000
• Monthly Savings x 36 months
$10,049
There is no minimum rental terms. You can buy back the home anytime throughout the 3-year standard rent-to-own term!
Rent-to-Own This Home for
$2,351/month
This home is listed on realtor.ca. Requity Homes doesn‘t own it—yet. But if it fits your budget and meets our criteria, we can buy it for you through our rent-to-own program.
You move in with as little as 2% down. Part of your monthly payment builds your future down payment. You can buy back the home anytime throughout the 3-year standard rent-to-own term!
No Hidden Fees, No Hidden Costs - Requity pays legal fees, title insurance and land transfer tax when Requity buys the home upfront. Client pays for inspection.
Client initial deposit is applied directly to the down payment when clients are ready to buy the home.
Few ways to reduce your monthly payments
• Look at homes with a lower price
• Put down a higher initial down payment
• Sublet the rooms for extra income
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Have Questions About Rent-to-Own? Let's Talk.
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