Category Archives for "Rent to Buy"

Rent To Buy Home: Buy A House Without Stepping Inside The Bank

Not everyone is lucky to have their housing loans approved. For those who seem to find no way to get to own a house, it looks like it is almost impossible for them to get a house of their own. With the financial crisis that they are experiencing, attempting to acquire a loan may just get them into more trouble later on, and which will even worsen the situation.

Rent to buy home is an solution where you can start paying for your own home, even without any loans or savings.

Rent to buy home doesn’t require you to pay in bulk immediately; and at the same time, it also doesn’t mean owning a house right away. Payment is done gradually and all depends on the buyer and seller agreement, until it comes time that the property becomes yours.

This is a slow but sure method that can be very advantageous especially for the buyer, if he has limited ways of purchasing a house, through the rent to buy home method. How can you get a potential seller be interested on rent to buy home method?

If you have heard of FSBO or For Sale By Owner, this is a method where sellers sell their homes without any realtor or middleman. The main reason behind this is that they don’t want to pay for expensive commissions and that they need to get most of the proceeds of the sale for themselves instead. FSBO sellers use this kind of method because they have small or no equity, or maybe they have other financial troubles that make it difficult for them to sell their properties in a normal way.

Whatever reasons they have, this is the perfect chance for the buyer to propose a deal to the seller, which in return, will be beneficial for the both of them. Remember that the idea of rent to buy home is not constructed to take advantage of those who’s desperately in need, but to provide help and propose solutions to each entity’s problems.

The rent to buy home concept is not fixed and can be revised as long as both parties will agree on it. Buying a house will surely be a lot more expensive than renting a house, but the rent to buy home method doesn’t require you to deprive yourself from your basic needs. To conclude, rent to buy home is the perfect solution for both the seller’s and buyer’s problem. The seller is able to sell his home and fix his financial setbacks, and the buyer, finally getting the chance to purchase his own home.

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Stop Renting A House And Start Having Your Own Through Rent To Buy House Programs

Do you have a house that you can call your own? If yes, then you are very fortunate. To think that those who haven’t managed to have their own are considered unfortunate,is very inappropriate. If they are presented with other possible alternatives to give them a chance of owning a home, then everyone will have their shelter that they can call their own.

Not only in Australia, how many families do you think are still trapped in paying their monthly rental fees because they cannot manage to buy their own house? The main reason is because they have very limited income that still needs to be divided for the family’s expenses like food, energy and water bills, allowances, car loans, and others. With this situation, most families just have to accept the fact that the idea of buying their own house would be impossible to attain in their case.

If you still have even a grain of hope in you, then hold on to it, owning your own home is very possible. In fact, through the idea of “rent to buy,” you will have a very big chance of purchasing your house even with zero savings or bad credit rating.

Rent to buy is helpful, especially for those who do not have the capability to pay right away and those who had been repeatedly rejected when trying to acquire bank loans.

The idea of rent to buy works this way. It will look like you are still renting the place, but the truth is the monthly payment serves also as partial payments for that particular house you are currently occupying until the time comes that it’s finally yours. Through this, you will never have to be trapped in paying for your monthly rent, hopeless to own a new house and make your landlord rich.

Kids grow so fast, and their growth is accompanied with your growing expenses. With your monthly income still the same as years before or had improved very little, it is still not enough to accommodate all your family’s needs. If you start taking action today by considering the rent to buy program, soon you will realize that the place where you and your family currently resides is finally yours to keep. In the long run, you will be able to save more than what you usually do in the past, because you don’t have to worry about your monthly rent anymore, which is really a big relief on your budget.

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The Benefits of Owning Rental Properties

Some of the benefits of owning these investment properties are:

  1. Monetary Benefits

Monetary benefits are those benefits that are directly measured in terms of the cost or returns on the property. The main interest here is how much money can be earned from owning a particular rental turnkey property. It can be divided into three basic benefits:

  • Cash flow: This is the money that will be left after settling taxes, debt service and operating expenses. It is the cash flow of the business and there are some things that could influence the income you can get from owning an investment property. Some of them include market competitions such as how developed is the location of your property and a sudden change in the market. In all of this, if the amount of revenue received from the business exceeds the amount of money spent, the excess is your cash flow.
  • Appreciation: This is often described as the nominal increase or rise in the value of a property. When the value of a rental property increases in absolute dollar terms, it is said to have appreciated. This normally occurs if the rate of increase in the value of a property exceeds the current inflation rate in the market.
  • Financial Leverage: This is the benefit received from the use of other people’s money (borrowed funds). This borrowed fund usually cost less than the return earned from its use. The investor will thus have control over a much larger investment.
  1. Non-Monetary Returns

These are the benefits that cannot be measured directly but by the investor’s personal investment aims and opportunity cost linked with a particular benefit. The benefits are as follows:

  • Pride of Ownership: When you are the owner and controller of a turnkey investment property, there is this pride that comes with it. As a result, you can confidently manage and make decisions concerning the property.
  • Diversification: Investing in real estate can be a way of diversifying your investment portfolio to ensure that the risk is shared across different kinds of investment businesses.
  • Security: There is this sense of security that comes with owning a rental investment property. There is a collateral attach to real estate, which can’t be found with stocks.

All these benefits ensure that owning a rental property can help you achieve your financial goals by creating a secure source of passive income. It’s all about getting educated and taking some risks.

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Selling Your House To A Property Manager

The options

The least you can do when selling your house is being comfortable with the path you choose to take. You have the option of selling the house on our own, using property agents or selling it fast and easy to the property managers. Weigh every option together with the pros and cons before making the final decision.

The fees

Usually property managers and buying companies do not charge you for consultation, valuation of the house or even a survey. They are more interested in closing the deal, but it is still very important that you check and confirm that you will not be charged; or at least be aware of any charges that could be applicable.

The house value

You might be in desperate need of quick money and therefore want to sell the house fast, but this should not mean getting a price that is too low for the value of the house. You should actually have your own valuation done privately so that you know how much the house is worth depending on the current market prices and the condition. When you know the value, then you can tell when you get a good deal from the manager or property company you are selling to. You should get a quick sale without getting ripped off so do your homework to get a good deal in the end.

The speed

One of the reasons why many homeowners choose to sell to property managers is because the selling process is made speedy in that it is possible to close the deal within 24 hours and have your money ready for use. The length of time the process takes however, varies from one buying company to another and it helps to know beforehand how much time you are looking at before you have your ready cash at your disposal. Your own urgency for the sale should help you choose the best property manager to sell to for convenience.

The terms

Most do not have any restrictions when it comes to the condition of the home, but you should still ensure that you know the terms of service and whether there are things that do not count in the sale. The terms you get should be favorable in the sense that you get the true value of the house, regardless of how bad its condition might be.

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Ready to Own a Property

The decision to own property is important and is also about your future. You need to do some detailed research before you making a decision whether you’re getting a good property deal or not. The one of the best ways to get professional insights on property investment is attending a property forum.

Now we discuss the four main point that will help you in making the best decision when it comes to choosing the right property.

1. Realising the need

I Design Arch

I Design Arch

Everyone also needs a place to stay no matter you are human, animals or living creature. When you realise that you need a roof of your own over your head,  it becomes a necessary to find for a property. No matter you are buying or renting, you should find for a safe area with good security features, a good neighbourhood, a suitable property type and a convenient location.

2. Key research on property

Star Property

Star Property

Always look at the surrounding areas is very important. Don’t just follow your own decision on how the property looks. We suggest that you must do research on when you deciding to buy a property.

  • Past performance : Checking the background of the property and its neighbourhoodson that you decide to choose. The background such as the growth rates, rental rate and rent demand . Then find out whether the property type and location that really got the worth for you to spend you money on it.
  • Present competition : Explore the surroundings, and don’t be afraid to be close to property experts to find more information or make more research about an area.
  • Possibilities / potential : Looking at the property future developments to analyse the potential of its. Find out more about the future projects, infrastructure, schools, and other big developments that will increase the possibility of capital appreciation.

3. Buying vs renting

The Harwood Group

The Harwood Group

Buy a house or keep on renting, these two are not an easy task. We will touched on the basic things that you can consider before making a decision on whether you want to buy or rent a property.

  • If you are only staying for a short while, still can’t afford to buy or are able to get a better investment, then it will be the best for you to rent. On the other hand, if you are financially capable of paying for a house, planning to stay for a long time and could not find any other better investment, then it will be a good idea to buy.

Finally, the key for you to finding a good property deal is to know that what you really want and what you really need. You are the one who has to decide yourself whether you can buy or rent, know what you can afford and what property is suitable for you and your budget best. Whatever your decision is what, you must also make sure that you weigh the pros and cons so you will not make a wrong move.


Source : starproperty

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