Thinking about selling your Kitchener home on a Rent to Own arrangement? That's an excellent choice and I'll show you why.
1st - There aren't many owners offering their properties as a Rent to Own so yours will stand out from all the other homes that are just for sale.
2nd - Rent to Own buyers can be very flexible because most don't have another home in Kitchener or anywhere else to sell. Plus if you need to move quickly they may be able to move in within 30 days, not the usual 90+ days with a sale.
3rd - You don't need a real estate agent to Rent to Own your home so you save on average $12,500 commission based on current prices in the Kitchener-Waterloo-Cambridge area.
4th - Unlike a tenant a Rent to Own buyer will care for your property like they already own it. When minor issues crop up they don't call you they call the repairman.
5th - Finally (for today) on a Rent to Own sale you get your price. There's usually no haggling or offers and counteroffers. Buyers know that when a home in Kitchener goes up as a Rent to Own they better jump on it!
Yes, yes, that's all find and good but what is the downside of selling my Kitchener home on a Rent to Own?
#1 - The single most important thing to watch out for is the attitude of the prospective buyer. Do they think like a renter or a buyer? This has a lot to do with you and how you present your home. Do you view a Rent to Own as renting or financing? I always present it as a Rent to Own SALE and haven't run into any problems.
#2 - Get some down payment, again this is a sale not a rental. It's normal for a Rent to Own home in Kitchener to require a $5,000-$10,000 down payment.
#3 - Don't be discouraged by negative Realtor comments. They can't stand it when someone sells their home on their own, they're afraid it's going to get out that selling your home on a Rent to Own is easy and commission-free, and they'll lose their livelihood.
#4 - Find a good lawyer who understands how a Rent to Own works. In the Kitchener-Waterloo area I recommend Victor Hussein.
Those are some of the key factors in deciding why you should or shouldn't sell your home on a Rent to Own and how to do it in Kitchener. Good luck!
Are you paying rent and looking forward to the day your family can own your own home? Why wait?
Take a moment to see how we can help you own a new rent to own Ontario home this week. We look forward to helping your family become home owners in one of the cities or towns of this beautiful province.
If you know what you need take a moment to look through our inventory of rent to own Ontario homes.
Take a moment to see how we can help you own a new rent to own Ontario home this week. We look forward to helping your family become home owners in one of the cities or towns of this beautiful province.
If you know what you need take a moment to look through our inventory of rent to own Ontario homes.
Why Rent to Own Kitchener Real Estate
Rent to Own is a great way to buy real estate in Kitchener. Not only do you save money, you put your rent to work for you instead of throwing it away. Real estate agents in Kitchener might tell you that rent to own isn't the way to go, but that's just because they don't make much commission.
Many owners of real estate in Kitchener are open to a rent to own arrangement. With it you can often move into your new home with little or no down payment. A portion of your rent to own payment will apply toward the purchase of your Kitchener real estate, and that's smart!
With a rent to own you lock in the price of any real estate in Kitchener that you choose to buy. The price could be locked in for 1 year up to 5 years but the most common is 2-3 years. Since real estate prices historically have been very stable or gradually rising in Kitchener for decades this is as good as buying the home outright.
No mortgage insurance is another great reason to rent to own some Kitchener real estate for yourself. The insurance adds up to thousands of dollars on the purchase of your home.
No land transfer tax. Since it's a rent to own and not a traditional sale the purchase of real estate in Kitchener will save you at least another $1,500.
No more landlords! Some would have you believe that buying Kitchener real estate by rent to own is no different than just renting. Nonsense! One of the main reasons why the owner of real estate in Kitchener would rent to own their home to you is because you will take care of it like it's already yours. They can take a hands-off approach and save themselves thousands of dollars in management fees.
Those are a few of the reasons why Kitchener Rent to Own Homes is a great choice for buying your next home!
Many owners of real estate in Kitchener are open to a rent to own arrangement. With it you can often move into your new home with little or no down payment. A portion of your rent to own payment will apply toward the purchase of your Kitchener real estate, and that's smart!
With a rent to own you lock in the price of any real estate in Kitchener that you choose to buy. The price could be locked in for 1 year up to 5 years but the most common is 2-3 years. Since real estate prices historically have been very stable or gradually rising in Kitchener for decades this is as good as buying the home outright.
No mortgage insurance is another great reason to rent to own some Kitchener real estate for yourself. The insurance adds up to thousands of dollars on the purchase of your home.
No land transfer tax. Since it's a rent to own and not a traditional sale the purchase of real estate in Kitchener will save you at least another $1,500.
No more landlords! Some would have you believe that buying Kitchener real estate by rent to own is no different than just renting. Nonsense! One of the main reasons why the owner of real estate in Kitchener would rent to own their home to you is because you will take care of it like it's already yours. They can take a hands-off approach and save themselves thousands of dollars in management fees.
Those are a few of the reasons why Kitchener Rent to Own Homes is a great choice for buying your next home!
Labels:
Rent to Own Articles
How to Rent to Own a Home
You've decided you want a rent to own home to call your own. Where do you find such a thing? Depending on where you are there may not be many "rent to own" ads in the paper or even online. So what should you do?
1. First realize that just because a home isn't advertised as rent to own doesn't mean the owner won't consider it.
2. These days a lot of home owners are struggling to sell and are open to a rent to own arrangement so don't be afraid to ask.
3. Grab your local paper or get online and start calling/emailing ads for homes you like.
4. Ask them flat out: "Would you consider doing a rent to own with me?" Many will say no, but some will say yes.
5. Get a good lawyer or title company to draw up a good rent to own argeement.
Why Consider Making your next home a Rent to Own Home?
* Many home owners don't realize that a rent to own arrangement is much different from a regular lease so they probably won't require a down payment.
* If you're in a high price market the rent to own payment will be less than a mortgage payment.
* Few home owners require a credit check before you rent to own from them.
* A rent to own home allows you to build equity before you even buy.
* Part of your rent to own payment goes toward your down payment.
* You can thoroughly check out the home and the neighborhood before committing to buy.
What are the Pitfalls of a Rent to Own Home?
a) If you don't buy the home you lose your rent to own credits.
b) If the price goes down you may not be able to qualify for a loan.
c) If the price goes up the home owner may fight to get the home back.
d) If you live in a state/province where laws favor the landlord you may not have as much protection as you would from a lender.
Although there are some potential risks a rent to own home is a great choice in these difficult times and by learning these basic priniciples you will be able to find a great new home to rent to own for you and your family in no time!
1. First realize that just because a home isn't advertised as rent to own doesn't mean the owner won't consider it.
2. These days a lot of home owners are struggling to sell and are open to a rent to own arrangement so don't be afraid to ask.
3. Grab your local paper or get online and start calling/emailing ads for homes you like.
4. Ask them flat out: "Would you consider doing a rent to own with me?" Many will say no, but some will say yes.
5. Get a good lawyer or title company to draw up a good rent to own argeement.
Why Consider Making your next home a Rent to Own Home?
* Many home owners don't realize that a rent to own arrangement is much different from a regular lease so they probably won't require a down payment.
* If you're in a high price market the rent to own payment will be less than a mortgage payment.
* Few home owners require a credit check before you rent to own from them.
* A rent to own home allows you to build equity before you even buy.
* Part of your rent to own payment goes toward your down payment.
* You can thoroughly check out the home and the neighborhood before committing to buy.
What are the Pitfalls of a Rent to Own Home?
a) If you don't buy the home you lose your rent to own credits.
b) If the price goes down you may not be able to qualify for a loan.
c) If the price goes up the home owner may fight to get the home back.
d) If you live in a state/province where laws favor the landlord you may not have as much protection as you would from a lender.
Although there are some potential risks a rent to own home is a great choice in these difficult times and by learning these basic priniciples you will be able to find a great new home to rent to own for you and your family in no time!
Labels:
Rent to Own Articles
Welcome to Kitchener Rent to Own Homes
Welcome to Kitchener Rent to Own Homes. This site provides information about buying a home with no credit or bad credit in the Kitchener area. Please add a comment to any of the Rent to Own Homes that you're interested in viewing.
Labels:
Rent to Own Articles
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A cookie is a piece of data stored on the user’s computer tied to information about the user. This blog doesn't use cookies. However, some of my business partners use cookies on this site (for example - advertisers). I can't access or control these cookies once the advertisers have set them.
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This Blog contains links to other sites. Please be aware that I am not responsible for the privacy practices of these other sites. I suggest my users to be aware of this when they leave this blog and to read the privacy statements of each and every site that collects personally identifiable information. This privacy statement applies solely to information collected by this Blog.
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I use outside ad companies to display ads on this blog. These ads may contain cookies and are collected by the advertising companies and I do not have access to this information. I work with the following advertising companies: Google Adsense, ROI Rocket, Project Payday. Please check the advertisers websites for respective privacy policies.
Contact Information
If you have any questions or concerns please contact Doug at doug (dot) canada (at) gmail (dot) com. This privacy policy updated July 2009
If you wish to opt out of Advertising companies tracking and tailoring advertisements to your surfing patterns you may do so at Network Advertising Initiative.
Google uses the Doubleclick DART cookie to serve ads across it's Adsense network and you can get further information regarding the DART cookie at Doubleclick as well as opt out options at Google's Privacy Center
Privacy
I respect your privacy and I am committed to safeguarding your privacy while online at this site kitchenerrenttoownhomes.blogspot.com The following discloses how I gather and disseminate information for this Blog.
RSS Feeds and Email Updates
If a user wishes to subscribe to my RSS Feeds or Email Updates, I ask for contact information such as name and email address. Users may opt-out of these communications at any time. Your personal information will never be sold or given to a third party. (You will never be spammed by me - ever)
Log Files and Stats
Like most blogging platforms I use log files, in this case Statcounter and/or Google Analytics. This stores information such as internet protocol (IP) addresses, browser type, internet service provider (ISP), referring, exit and visited pages, platform used, date/time stamp, track user’s movement in the whole, and gather broad demographic information for aggregate use. IP addresses etc. are not linked to personally identifiable information.
Cookies
A cookie is a piece of data stored on the user’s computer tied to information about the user. This blog doesn't use cookies. However, some of my business partners use cookies on this site (for example - advertisers). I can't access or control these cookies once the advertisers have set them.
Links
This Blog contains links to other sites. Please be aware that I am not responsible for the privacy practices of these other sites. I suggest my users to be aware of this when they leave this blog and to read the privacy statements of each and every site that collects personally identifiable information. This privacy statement applies solely to information collected by this Blog.
Advertisers
I use outside ad companies to display ads on this blog. These ads may contain cookies and are collected by the advertising companies and I do not have access to this information. I work with the following advertising companies: Google Adsense, ROI Rocket, Project Payday. Please check the advertisers websites for respective privacy policies.
Contact Information
If you have any questions or concerns please contact Doug at doug (dot) canada (at) gmail (dot) com. This privacy policy updated July 2009
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