In Campbell River you have a lot of options for potential rental properties.You could buy an older home in the downtown core for under $200,000 but be prepared for yearly costs for maintenance and repairs, updating appliances etc.You can invest in a brand new home in the high $200’s and open yourself up to many different neighbourhoods. You’ve got a higher possibility of getting top rental income but now you have a shiny new house that may get a lot of wear and tear in a quick amount of time.Let’s use an example of what I gravitate to, a basic 3 bedroom rancher. We’ll price it at $240,000 for this example. If you put a 10% down payment at 2.9% interest you would have monthly payments of approximately $1000 with the addition of property taxes at around $200 a monthYour rental income potential would be $1100-$1300 per monthRemember that this is a long term investment! Unless you get lucky and the market goes up 25% in 2 years, don’t expect to flip the house in a year and make money. If you look at it as a 10 year investment than that $240,000 house rented at $1250 a month (which covers that monthly mortgage payment) has helped pay down your mortgage to about $150,000. Statistically speaking the house is now potentially worth between $400,000-$450,000. You are now sitting on around $300,000 equity available to you!!! I’ll cover more about this in a future post about one of my favourite words, Leverage!
So it’s time for Deanna to paint her front door…
It doesn’t sound that hard to do but the colour you choose for the entrance to your home sets the tone and feeling for your guests.
So how do you pick? A warm brown, dramatic black, maybe a bold red? Check out some of these beautiful options below to get some ideas for your own home.
Now, once you’ve decided on the right colour for your front door, it’s time to learn HOW paint it the RIGHT way. Check out this video to show you how it’s done:
As for Deanna’s door, what would you suggest? She’s going for a beachy concept with beach rocks to the right and a big stone staircase to left that leads to the deck. Deanna has been leaning towards a dark brown or maybe a matte black. Comment below and give her your thoughts!
When the day arrives that you have buyers coming to view your home, make your home feel like a home. Be sure to leave all the lights on and curtains open. Light a fire in the winter and open the windows and curtains if its summer.
If you have any other questions about staging or are looking for suggestions, please contact us! We’d love to help you get your home “show ready”!