What is the Easiest Way to Get into A Detached Home?

Author: Boychuk Mortgage Group |

HOUSE HACKING!

  • This strategy refers to living in one part of the home while renting out the rest of the space. House Hacking is designed to help you improve what you can qualify for while also bringing down your total monthly costs via the rental income generated.
  • When comparing a detached home to a strata unit, you will also save on monthly strata fees. When done right, you may even find yourself cash flow positive month over month.

Remember a $400 monthly debt today equates to about $100,000 in lost borrowing power. When considering the elimination of a $400 monthly strata fee, that could mean an increase in your total borrowing power of about $100,000.

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