Try It Before You Buy It
Try it before you buy it. Interesting concept for a real estate transaction, right? And certainly, one that sounds too good to be true. Most wannabe buyers probably don’t realize that there are other ways to achieve the dream of owning their own home beyond having to come up with 20% for a conventional mortgage. But there are programs out there that offer the opportunity to buy a home in this very competitive and ever pricier market.
Rent to own or lease options programs have been around for some time but now they are being done on a large scale by private equity firms who know real estate is a great investment right now. It isn’t charity and not government assistance. These offer the legitimate opportunity to get into a home now for certain buyers.
FIRST TIME HOME BUYERS
A first home purchase can be the most daunting purchase one can have. For those who aren’t sure if they are ready for the commitment these programs literally give them a chance to try it before you buy it. Since they are leasing the property they can walk away after year if homeownership isn’t for them.
Denver has become an apartment city with a fraction of “affordable” condos or townhomes to buy. The competition for homes for a first time buyer’s budget is drastic. These programs typically buy the home for cash thus beating multiple offers.
We all know Denver is a great place to live. For a transplant needing a home but not sure if they want to live in the mountains or on the plains or in Denver or Loveland or Idaho Springs lease option programs are PERFECT. Literally another try it before you buy it.
HOMEOWNERS WHO CAN’T QUALIFY NOW
Some buyers may simply not be quite ready to qualify for a traditional mortgage but want or need a home now. These buyers have an opportunity to improve their finances while living in the house they choose themselves. These buyers have the ability to again try it before you buy it with no obligation of 30 year mortgage.
Everyone’s situation and every real estate transaction is different. I would be happy to explain how these programs work. Phone or text me, Jeff, at ION Real Estate 720-309-2059
As a Colorado native, real estate broker since 2006, and real estate investor for over 15 years I have the expertise and knowledge to help guide you and your family through the most important transact....