Rent To Own Charlottetown
Charlottetown the capital and largest city in Prince Edward Island, is a historic Canadian town that is steeped in Canadian history. Charlottetown is a small city that has big time charm. The historic buildings, waterfront, and amazing tourism is becoming a hotbed for people to move to the provincial capital.
Even the Canadian Broadcasting Corporation published an article in June 2019 announcing Charlottetown as one of the hottest real estate markets in all of Canada.
The population of Prince Edward Island is increasing at one of the fastest rates in Canada within the last few years. Over a two year period between July 2016 to July 2018 Prince Edward Island’s population grew 4.27% while Canada’s largest province Ontario was second in line at only 3.22%
With the Charlottetown and the rest of Prince Edward Island home values rapidly increasing, it’s no wonder why potential homebuyers are having a difficult time entering the market.
From November 2018 to November 2019 prices in Prince Edward Island rose 8.7%. When compared over the first 11 months of 2019 to the year previous there is a price increase of 11.8%
Using the 8% appreciation seen from Novemeber 2018 to November 2019 that PEI has seen, let’s look at an example of how the numbers work in a Charlottetown Rent To Own.
If you did a three-year Rent To Own in Charlottetown, and the markets average 8% increase each year, the $250,000 home you purchased would now be worth $315,000. However, since you locked in your appreciation at 4% with us, the final purchase price would only be $281,000. That is a difference of $34,000 of equity in your pocket.
Charlottetown Rent To Own helps people who may be having trouble qualifying for a traditional mortgage with a bank. Our Rent to Own agreement is structured to put you the tenant-buyer into a position to have the best opportunity to be mortgage ready and successfully purchase your home at the end of the rent to own agreement.
We help people who have bad credit, recently divorced, self-employed or new to the country.
If you would like to better understand how Rent To Own works, click the following links.
Rent To Own Canada - Executing Rent To Owns Successfully With Integrity.