Rent To Own Kawartha Lakes
Rent To Own Kawartha Lakes Ontario
The beautiful Kawartha Lakes region of Ontario Canada, is just a short drive away from Canada’s largest city Toronto.
Home to great towns like Lyndsay and Bobcaygeon, as well as amazing lake access, the Kawartha Lakes region offers the ideal mix of work-life balance.
At Rent To Own Canada we are not alone in noticing the potential Kawartha Lakes holds. According to the Kawartha Lakes Real Estate Association the overall supply of listings is lower than average. The long term average for this time of year is around 700 listings. As of October 2019 there were only 464 active listings.
With decreased supply and increased demand, price usually goes up up up.
The chart below is from CREA, and shows the steep trajectory the average price of homes in Kawartha Lakes has seen over the last ten years
It’s very obvious the massive jump in price over the last decade, however just over the last year, the median price of a single-detached home in the Kawartha Lakes is up 7.6%.
With the Kawartha Lakes and surrounding area home values increasing, it’s no wonder why potential homebuyers are having a difficult time entering the market.
Using the 7.6% appreciation that the Kawartha Lakes area had over the last year, let’s look at an example of how the numbers work in a Kawartha Rent To Own.
If you did a two-year Rent To Own in the Kawartha Lakes, and the markets average 7.6% increase each year, the $300,000 home you purchased would now be worth over $347,000. However, since you locked in your appreciation at 4% with us, the final purchase price would only be $325,000. That is a difference of $22,000 of equity in your pocket.
Not a bad way to start as a homeowner!
Kawartha Lakes Rent To Own helps people who may be having trouble qualifying for a traditional mortgage with a bank. Our Rent to Own agreements are 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.