My Gastown Developments has come up with an interesting new way to buy a home in their new development InGastown. You can trade your car...for the condo. Or at least the down payment.
Here is how it works: you drive your car to the presentation centre and they appraise it. The value of your car is then put towards the down payment needed for the condo - with several financing options available. Included in the deal is a free membership to Modo Car Co-op - giving you access to a car when you need it.
“A car is a depreciating asset so trading in a car for a condo – an appreciating asset – makes good business sense, and this new program allows some people more choices in how they want to live,” says Cam Good, president of Key Marketing. “This helps people get a foot in the door if they want to live in Gastown, get money for a down payment and live car-free to reduce expenses.”
Definitely an interesting idea - find out more about it at ingastown.com
