Cottage/Home for Sale Rent-to-Own Option Available

For sale by owner. For Sale or Rent-to-Own: Charming Coastal Cottage in New Perlican

Escape to the tranquil beauty of New Perlican in a charming coastal cottage, now available for a rent-to-own opportunity. Currently a popular Airbnb, this delightful century-old saltbox home is nestled in a serene and quiet area, offering a unique blend of historic charm and modern comfort.

Property Features:
• ️ Bedrooms: Two main bedrooms with ocean views, along with a pull-out couch in the living room for an additional sleeping area.
• Bathrooms: Full bathroom upstairs and a half bathroom downstairs.
• Propane Fireplace: Cozy up by the fire on cool evenings with a Vermont Castings fireplace.
• Fully Equipped Kitchen: Stocked with dishes, cookware, and cutlery if desired.
• Luxury Wood-Fired Hot Tub: Located in a private setting on the side yard, overlooking the ocean. Functional in all seasons, this luxury style wood-fired hot tub from Back Country Recreation is sure to keep you warm and relaxed.
• Antique Stereo System: Enjoy a nostalgic audio experience with a fully functional antique stereo system, capable of playing 8 tracks, records, and radio.
• ️ Fully Furnished: Enjoy the opportunity to keep most of the furniture as is, including some beautiful antique pieces.
• ️ Electric Baseboard Heaters: For additional warmth and comfort.
• Storage Shed: Spacious wired storage shed featuring an antique wood cook stove. Plenty of room for tools and storage. It was once used as a livable space, and with a little TLC, it could be transformed into your personal man cave or cozy hangout spot.

Expand Your Vision:
Included in the purchase is a large vacant plot in front of the property. This versatile space offers endless possibilities—whether you envision building or creating a garden, this comes with the property in a separate survey.

Rent-to-Own Details:
• Price: $220,000
• Option to Buy Downpayment: $10,000
• Monthly Rent: $1450 ($100 goes towards the down payment. Additional rent credit options available). The downpayment reserved for until you are ready to purchase.
• Term length: 2-3 years. Complete the purchase at any time you are accepted for a mortgage.
• Homeowner Responsibilities: Maintenance and repairs, insurance, etc.

Benefits to the Home Buyer:
• Path to Ownership: The agreement allows the Purchaser to occupy the property immediately while making payments toward owning it in the future.
• Fixed Purchase Price: The purchase price is predetermined, protecting the buyer from potential market increases in property value during the rental period.
• Down Payment Applied to Purchase: The initial down payment and any additional amounts paid above the rental amount are credited towards the purchase price, effectively reducing the final amount owed at closing.
• ️ Occupancy Rights: The Purchaser has the right to occupy the property during the agreement term, providing stability and an opportunity to experience the home and community before fully committing to the purchase.
• ️ Maintenance Control: The Purchaser maintains the property as if they are the owner, allowing them to ensure the home is kept in good condition.
• Flexible Exit Option: The Purchaser has the ability to pull out of the deal at any time, offering peace of mind and ensuring they are not committed to a mortgage if their circumstances change.
• Protection from Market Fluctuations: The fixed purchase price safeguards the Purchaser against real estate market rises.
• Ownership Incentive: The Purchaser's investment in the home through improvements and maintenance can enhance their equity and the value of their future property.
• No Immediate Large Financial Outlay: The Purchaser can secure a property with a smaller initial financial outlay compared to a traditional purchase.
• Flexibility and Time to Arrange Financing: The Purchaser has the duration of the agreement to arrange for mortgage financing, reducing immediate pressure to secure a loan.
• Avoidance of Traditional Tenancy Laws: By excluding the provisions of the Residential Tenancies Act, the agreement provides clarity and specificity tailored to the rent-to-own arrangement, avoiding potential complications related to tenancy laws.
• Exclusive Right to Purchase: The agreement grants the Purchaser the exclusive right to buy the property, ensuring that they won’t lose the home to another buyer during the term of the agreement.
• ️ Personalization of Home: While the Purchaser must obtain the Vendor's consent for alterations, they can personalize the home to suit their tastes and needs, creating a more comfortable living environment.

Contact Information: If you believe this opportunity is the right fit for you, please don't hesitate to get in touch.

Price: $220,000.00

Location: New Perlican (Avalon)

Phone: 709-771-XXXX   Click to show

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