Welcome First Time Buyers to the Cowichan Valley
If you’re thinking of taking a step on the property ladder, consider one of these homes. There are a range of locations and quality levels in this price range. If you’re handy, you might consider a DIY project. If you’re looking for something that doesn’t require any work, consider one of the better condo complexes. There is something for everyone here.
These may be considered starter homes for singles or young couples. This type of home is relatively affordable and is often purchased using a combination of savings or gift and mortgage financing. The idea of a starter home originated from a time when a small home was the preferred option to renting for young families. More homeowners are seeking these types of properties in the current housing market due to the added appeal of condominium or mobile home lifestyles.
Cowichan Valley real estate listings between $100,000 and $200,000 will feature building lots, apartments, condos, and townhouses. With 5% down you would need to have $5,000 to 10,000 plus legal fees to buy your own home. Your mortgage would be approximately $500 to $950, not including strata or pad fees. Homes priced in this range will appeal to first time buyers, retirees, and small families.
Are you looking for financing for your first purchase? There are a number of goverment programs and incentives available for Cowichan Valley homes. For example, you’re allowed a penalty-free withdrawal up to $35,000 per person from RRSPs for a down payment. In 2019, the government created a new equity-sharing program. Home owners can receive up to 10% of the purchase price as an interest-free loan with no payments until the property is resold. Combined, these incentives make it easier than ever to purchase your first home.
Contact Constantin or Mariana by using the forms on the details pages for Cowichan Valley real estate listings between $100,000 and $200,000. Visit our Vancouver Island commercial real estate website for investment properties.