It’s hard to really put down roots with your family when you’re renting.
It’s someone else’s house.
You know it & the kids know it.
For families with kids, buying a home is so important to really establishing your “story” as a family. You can start to really make friends. It’s where you create memories.
What does a first time homebuyer look like?
A lot of first time homebuyers we see are young people just starting out. Maybe they’re single and buying a home. Sometimes they’re soon-to-be or recently married.
Every once in awhile we hear from a family with children that’s been renting for awhile, and they’re usually VERY motivated to buy a home.
We recently worked with a couple that had 4 children. And their 6 person family had been renting the same house for several years. They were ready to get a home of their own and finally put down family roots.
Don’t get fooled by “rent to own”
But in this case, the family thought they were renting to own. The owner had told them they’d eventually sell to them, but it never seemed to happen.
That’s why we helped them understand the difference between what they were doing and how buying a home actually works. You can never ask too many questions…
After helping them understand their options, we were able to help them get into a low down payment loan and referred them to a Realtor to find the perfect home.
It wasn’t big. But it was theirs…
The moral of the story
Before you sign some sort of owner financing or lease-to-own paperwork, check with us first. Sometimes those agreements are legitimate and work out for everyone. More often, they don’t.