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The Benefits Of Having A Legal Accessory Apartment In Your Home

Published January 14th, 2014 by Island Estates

I

Financial

(A)       Your tenant’s rent can pay your taxes and more.  The market rent for a one-bedroom, one bath, bright apartment in Pt. Jeff Station is at least $1,200 per month.  The taxes on our Aventura model are projected to be less than $12,000 per year (or $1,000 per month).

(B)       Alternatively, rent of $1,200 per month can be used to pay all or part of your mortgage payment.  At today’s rates (4-1/2% -- 30 years), the payment on a $236,831 mortgage is $1,200 per month.  Even if your mortgage is higher, isn’t it wonderful to have someone else paying the first $236,831 worth of your mortgage?

 

II

From a Practical Standpoint

(A)       If you need the income now, but perhaps won’t need it as much in later years, you can use the space later for a grown child, one or two parents, a guest suite, or additional living space.

(B)       If you need all of the home, including the apartment, for your family now, in later years you can rent it out for additional income as shown in I above, or you can put it to one of the uses described in II (A) above.

(C)       For resale value, you have much more to offer your potential buyers than your competition will, for all of the reasons in this article.

 

Come see this home with its valuable investment attributes by calling Island Estates Homes for an appointment:  631.588.8818 Ext. 101

New Home Versus Resale

Published January 13th, 2014 by Island Estates

In the last year or so we've seen a major increase in both new home sales, as well as resales.  Unfortunately, the cost to build new homes has also increased as building materials have gone up and new codes and requirements have been put in place.  Because of the increase in new home prices, a lot of people who once dreamt of building new are looking for a resale.  But sometimes being cheap can be more expensive.  Click here for 9 Reasons To Choose a New Home Over a Resale.

New Website!

Published December 31st, 2013 by Island Estates

Welcome to the new website of Island Homes Estates. Here we'll talk about company news, real estate and construction advice, and much more. Check back soon and often!

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