Looking for a great deal? Here is a bank-owned Pukalani house and cottage for sale (MLS# 343506) that just listed for $439,000.
Live in the house and rent the cottage or vice versa.
2010 County Assessment: $519,100
For many buyers, having the benefit of an additional dwelling on a property to help with the mortgage payment can be a huge benefit to reducing the overall cost of home ownership. However, it is always important that youÂ check with your your REALTOR to determine if the Ohana (meaning cottage in this usage of the word) is legal or not.
Why is this important you ask?
Because if the cottage is legal, many lenders will allow you to use up to 70% of the potential rental income to add to your qualifying income to purchase the home. Great deal, huh?
House and cottage
Regardless of whether you live in the cottage or the main house, what’s most important is that you the owner are living the Upcountry Life, the Maui Life, the Hawaii Life.
Maybe you are interested in living the Hawaii Life but this is not quite the house for you. If you are looking for a real Screaming Deal, chances are that it is going to be a foreclosure/REO/bank owned home. These homes generally sell very quickly and it is in your best interest to have a savvy and watchful Realtor on the lookout for you. May I not so subtly recommend that youÂ Contact Me to help you out : )