Gallagher's New Homes starting at $429,900 with Gallagher's Living Plan - A new way to buy Gallagher's "ready built" homes and put come cash in your pocket.
An interesting option is the seller's "Gallagher's Living Plan" available for these homes. You can purchase these properties for $150,000 less ($429,900 and $444,900 respectively) with a 99 year lease for the land. This allows you to put $150,000 in your pocket for other uses such as investment, travel, a rainy day, etc., and pay a lease rate of 4% per annum (simple interest) for the property. This payment would be $500 per month (or alternately $333.33 per month for a $100,000 lease). The lease can be fully paid out at any time, and will remain at 4% of market value for its length. This type of option has proven to be very popular in other Kelowna communities, such as Huntsfield Green, Balmoral, and TerraVita. These lease payments are also approximately 33% lower than payments on a 25 year mortgage for a similar amount, at 3.5% annual interest. If you are interested in this option, we can give you further details.