Move in Now, Buy Later: The Housing Market Gets Creative
Homeownership is just a pipe dream for many people. The market is tight, and pricing continues to climb. And if you have a bad credit score or are paying back student loans? Good luck.
But things are changing.
Lease-option, or “buy now, pay later,” companies appear to be more consumer friendly.
For example, Divvy Homes, which currently operates in eight markets nationwide, is among a slew of young companies and start-ups that can offer aspiring homeowners more say and more financial leverage.
A lease option, gives a tenant the possibility of purchasing the rental home they live in. By doing so, they will also improve their credit scores.
This is how it works: The rent-to-own companies often purchase the single-family houses their customers want but cannot or will not buy outright. The clients become renters (and sometimes part-owners) who, once they agree to terms, have the choice to buy the property during the option period.
This could be a game-changer for most people wanting, but unable to buy their first homes.
Read on HERE.
Mr. Willig engages and coordinates a professional team of real estate brokers, general
contractors, leasing agents, and property managers in order to rehabilitate, lease and maintain the properties he acquires for SpringView Investments. He has over 20 years of finance and accounting experience.