Three on Stuart St. in the working class/south end of the city. The rail
yards are a hundred metres away, and your bookshelves will wobble back
and forth up to an inch when a train is leaving the yard. Yet these
houses may be under $100,000.
So, our basic premise here at Hovel Hunters International is that if a
person on fucking disability can pay $9,441.00 dollars in rent in a year, they can afford a
small house. The big hurdle is financing--some kind of credible down
payment and then a mortgage, which is problematic when someone's on ODSP
at a rate of about $13,500 a year; including some small business and
employment income. At least you're building equity, and you don't have
someone on the other side of a very thin wall at both end
s
of the apartment. That's not to say you won't have an asshole as a
neighbour because that is very likely to be the case. I calculated a
$50,000 mortgage with ten percent down at around $228.00/month at the
current rate, which is at a historic low. What we need is a plan, one
that is long term and not something to be done on impulse. Once certain
resources are in place, it is possible to strike when the iron is hot.
Otherwise it's a big scramble, followed by the inevitable disappointment
when you couldn't move fast enough. ODSP
clients can have up to $7,000.00 in the bank, which very few of us do.
We can also receive gifts, which happens sometimes. So, how do you save
that seven grand...??? Or earn it.
 |
| "Fisbo" (for sale by owner.) Wellington St., central city. The side door
indicates this might be suitable for a basement apartment/income
property. In Sarnia, all basements leak, if someone tells you different,
they are lying. |
South
Queen St. $89,000. Apparently it's three bedroom and the garage goes
straight through to the back, or at least it did years ago when the
step-grandfather owned it.
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