Case Study:
This case study will make you aware of some interesting facts about real estate -- and about two sides of the home-owning "coin."
By the way, the following scenario is real, but the names have been changed to mask the real identity of our clients.
John and Jennifer are a hard-working young married couple with a 5-year-old daughter, Maria, and a dog, Duffy. Both John and Jennifer are employed and bring home a combined $82,000 per year.
They moved as tenants into a building in Feb. 2000 (after moving from Newfoundland to Ontario). The young couple liked their place so much, they continued living in that same house for the next seven years.
John and Jennifer considered themselves very lucky to have a good landlord -- Dave, a middle-aged, congenial, soft-spoken Irishman. Dave has taken very good care of his property and the tenants who lived there. Over the years of their stay, very few major repairs were required. And John and Jennifer never had to call twice for any repair work.
As for small repairs, John was happy to take care of those himself. During John and Jennifer's entire stay, ducts were cleaned and carpet was shampooed every two years. The whole interior was freshly painted in 2005.
Overall, this seems like an ideal living situation -- with an amenable and helpful landlord keeping the property in good shape, and opportunity for the tenants to do their own minor upkeep.
Taken together, this has resulted in a property with great quality, liveability - and increased value.
However - this great property is now on the market! Yes, Dave the landlord has decided to sell the building.
Where does this leave John and Jennifer?
John and Jennifer's Reality:
All of a sudden, their ideal living situation is "no more."
Not only that -- but they've paid a lot of money they'll never get back. Over the seven years they were there, their average monthly rent came to $1126 per month plus utilities. So, the couple paid $94,584 in seven years. Now the property which they called their home is being sold -- for $310,000. The irony is, the banks have denied John and Jennifer a mortgage, so it seems impossible for them to get their own home.. And now, of course, they will have to vacate their rented property once it's sold.
Dave's Reality:
He bought his property in 1999 for $198,000 and now is selling it for $310,000.
Dave was very happy with his tenants John and Jennifer, and always did more than expected to make their tenancy more enjoyable. And Dave never had his property vacant. Obviously, he was a good landlord and property owner.
As for Dave's property itself, it appreciated $112,000 and paid off an additional $6000 from his mortgage in seven years. In total, his investment made him $118,000 in seven years. So -- it looks as if Dave is the winner here.
What about John and Jennifer?
As they have to vacate great premises that have been their home for seven years, and as they can't get a bank mortgage to get their own home, this seems like a disaster for them. And it could have been!
Luckily, John stumbled upon www.r2ownhome.com, contacted us and discovered he was qualified for our unique rent to own home program.
The rent to own home strategy for John and Jennifer was successfully executed in October, 2009 and was added to our many success stories.
The young couple is now on their way to enjoying homeownership -- with a secure and worry-free future ahead of them.
We encourage you to STOP RENTING and begin owning YOUR OWN HOME. When you compare the long-term benefits of owning your home, you'll see it's worth considering -- and beginning the rent to own process.
With rent to own, you have all the opportunity to enjoy the freedom of choice and security of homeownership -- and with no mortgage liabilities. You're also paying out money in a way that is earning money for you.
Are you beginning to get excited about owning your own home, with this great Rent to Own opportunity? Want to know more about the above-mentioned real-life scenario -- and your own scenario?
Then connect with us now to inquire about your choices, or pre qualify for rent to own home!
And if you cannot own your own home, feel free to browse r2ownhome.com to discover other alternatives. Take those steps to Pre Qualify your self today.
Don't let another day go by while you wonder and worry about your future.
Begin getting the answers you need, and a solution that works for you - with the help of the expert and experienced Rent to Own Home team.