Home Buyers and Sellers ... a Concept that is Mutual Rewarding!
Looking to add some exciting real estate to your portfolio? Adding multiple properties to your portfolio via the OWN HALF program can be rewarding almost immediately! Here is another great reason to buy Florida property and northern cottage property. Using our "own half" plan and today's rock bottom prices in the Florida real estate market, it may be the right time for you to buy that spectacular waterfront condo or vacation home and convert it into a 50% ownhalf plan for instant profit!
Remember, we have all the tools and agreements that you'll need to customize your ownhalf plan.
Perhaps you would like to own 6 months in the north and 6 months in the south ... the best of both worlds! If that's the case, it may make sound economic sense to sell your city home. There are only 12 months of the year ... so if you plan to live your dream in your favorite destination in the SOUTH for 6 months and in cottage country of the NORTH or the remaining 6 months of the year, then it may be a good idea to also sell your primary residence in the city to free up your money and start enjoying life to the fullest.
Now you'll be able to use your money for other things like that sea craft you have been dreaming about and or helping the children buy their first home. Plus, owning two vacation homes is much less a cost and much less a burden then owning and maintaining your residential home in the city with all those high tax hikes and upkeep each year.
If you are retired or close to it, ask yourself this question; if we like to spend all of our time at the lake during the summer and the entire winter in Florida away from the ice and cold, do we really need to hold on to a third residence in the city that we will hardly ever use?
For many, the answer is obvious. By selling your primary city residence in the north at a premium price it will allow you to buy a 50% share for the winter months in a retreat in Florida and a 50% share for the months in a summer condo or cottage in the north... at a much lower price.
Here is an example:
1/ Let's assume your (mortgage free) primary city residence in Toronto sells for $1,000,000 (average price of detached city house).
2/ Your 50% ownership of a beautiful bay front Florida condo would be $125,000. (U.S. funds)
3/ Your 50% ownership of a summer retreat of sports and leisure in the Collingwood area would be $175,000.
This allows you to sell your city home and acquire two wonderful residences that are "mortgage free" and where you only pay the upkeep for the months you own and use.
You have now spent $300,000 for two 6 month residences and freed up $700,000 by selling your city home. In other words, when your summer season ends in Collingwood, the other 50% owner of the Collingwood retreat takes over the use of the unit and all maintenance costs, utilities, taxes, and security of the other property ... and you head south to your luxury Florida condo for the months November through April.
So now you can enjoy your Florida Vacation residence and that salty fresh air that you always look forward to ... just as the weather turns to cold in the north. That cold air might not suit you and you may of had enough years of ice and snow for your liking ... but for the other 50% owner of your OWN HALF Collingwood property, they can't wait for the white stuff to fall so they can challenge the Blue Mountains of Collingwood every weekend from November through April. Christmas up north with a fireplace and a white landscape is just what their family looks forward to. Now both parties are happy which makes for a worry free OWN HALF lifestyle.
Doesn't that make economic and practical sense for both parties? Remember, for every sailor there is a skier that can't wait for you to head south to the warm sun ... and they're willing to pay for it! Imagine that!
When their ski season comes to and end, and the flowers start to spring in the north, it will be time for you to return home ... for more golfing, swimming, boating. barbecues and leisure from May through October, after which time, you can prepare for your journey south again.
Peace of mind vacation ownership for both parties?
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