Here is an article written for the North Shore News….
Now Is The Time To Make Your House The Home Of Your Dreams!
Property values on the North Shore are at an all-time high. Borrowing money is still at an all-time low. Combine these two economic factors – with the fact that the transaction costs to sell your home and re-buy a home of your dreams is simply rudely expensive – and you have the perfect time to renovate your existing home into the home of your dreams.
Just think about it.
If you bought a property on the North Shore before 2015 – your increased home equity (30%+?) can now be used to get you the modern kitchen, bathroom, basement suite/laneway home or exterior finishing that you have always wanted. Plus, you won’t have all the hassle of uprooting your family, and all the expenses of selling and moving.
The best way to take advantage of your recent rise in home equity – is not to sell your home and buy a new one- it is to remortgage and renovate your existing home.
And here’s why.
The costs of selling your home to buy a new one are rudely expensive. To do this you would have to pay costly real estate fees, and maybe your bank mortgage penalty, that could total up to 6% of the total value of your home. On a million dollar home that’s close to $60,000 that you would be dishing out before you bought again where you would have to pay another 2% or more for Property Transfer Tax! Instead, you could refinance and borrow that $100,000 and end up with:
- a lower overall monthly payment with better terms,
- a renovated home that you love,
- consolidate any high-interest debts,
- increased property value!
Take a look at these numbers and ask yourself these questions.
$100,000 of mortgage costs less than $392 per month* (based on 30yr amortization, rate, product and term to be decided)
What value and comfort can you add to your home for $392 per month?
What would your house be worth once you made it the home you love?
A MORTGAGE YOU ARE GOING TO LOVE
Most people hate their mortgage, so putting mortgage and love in the same sentence isn’t popular. But Michael James at Mortgage Evolution from Dominion Lending Centres is a different kind of mortgage broker. Most of the Big 6 Banks offer mortgages that have high penalties if you want to get out of them. Dominion Lending Centres – Mortgage Evolution does not offer just one or two types of products like traditional banks – Michael is free to shop around with over 30 different lenders. This allows you the borrower to revolutionize your mortgage. You can get better rates and lower penalties – that’s why people love our mortgage solutions.
Don’t think of moving – Stay!
Refinance your home and use your equity to get the home of your dreams today.
The process can be as simple as a half hour phone call. What are you waiting for?
Learn to love what your mortgage can do for you!
Call Michael James today at 604-770-4900
Or email mjames@mortgageevolution.ca