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Would You Buy a House for a Car?

20 October 2013

It’s no secret that real estate agents and developers have long since been offering certain incentives to entice buyers into offering properties. After all, these are the individuals who are going to benefit most – financially anyway – from your purchase. So things such as offering to buy appliances, install hardwood floors throughout, or put granite countertops into a modern kitchen. These can add up to $25,000, but well worth it for those in a fledgling housing market desperate to sell their homes. And while the Toronto housing market has seen a rebound lately, some of the incentives being offered by these individuals can still be found on the market. And some of them are just crazy.

Kylemore Communities is one of those developers that’s offering mad incentives if you purchase a home for them. If you purchase just one of their condo units, they’ll grant you $35,000 towards the purchase of any new BMW – which will look great parked in any one of their upscale driveways.

Another real estate agency is sending out flyers along the same line. They read, “Buy or Sell a Home, Get a New Car!” This flyer is qualified at the bottom, saying that you must actually buy and sell a home through the agency, and that the combined purchase must be more than $2 million. Yes, it’s pricey, but they’re not just giving you a credit towards your new car purchase, they are actually going to give you a new car. A 2013 Honda Civic, in fact. And it is in fact, free. Well, with the exception of the money you spent on that new home anyway. And this same agency has an offering for those in the lower price range too. If the purchase price totals anywhere from $1.2 million to $1.9 million, you can receive a “free” 2013 Nissan Versa.

And for those that don’t want to go totally broke on their purchase? If you’d like to spend only between $600,000 to $1.19 million, that same agency will give you a Yorkdale Mall shopping spree of $7,000. For those only willing to spend between $300,000 and $599,000, they’ll get a gift card to the Apple Store worth $3,000. Still not bad if you’re really into apps and music.

But would any of these incentives be enough to woo you into purchasing a home? Or selling one? Admittedly, we were a bit baffled at the thought of such extravagant incentives at first, but who knows? Maybe they actually work.

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