Tenant / Buyer Information:
Currently Husband, Wife and their 2 sons reside in Bowmanville. They are tired of renting, throwing their hard earned money out the window and have decided to start looking for their dream home. They are looking to remain in the Bowmanville area.
They have chosen a brand new end unit town home as the property they’d like to proceed on with a Rent to Own. The home is still under construction and will be ready for November 1. It’s very spacious at about 1500 sq’ and has an amazing basement layout featuring large above grade windows and a walk out. There’s three bedrooms and the master bedroom features a three piece en suite bathroom.
Husband is currently an elevator mechanic and has been working for the same company for the last 6 years. Wife is a homemaker and raises their 2 . Their annual household income is $93,600. Wife and Husband will be putting down $6,000 (plus first and last month’s rent) and have agreed to a monthly payment of $1950 /a month in rent. They will be signing a 3yr lease.
They have agreed to the following buy out prices:
Buyout Price After Year 2 = $286,524
Buyout Price After Year 3 = $298,089