Rent to Own Your First Home or Condo
Rent to Own is a Growing Concept
The above video from Globe & Mail provides an easy to understand explanation of the traditional Rent to Own option available to hopeful home buyers. Some time back, we had also written a blog post on Rent to Buy Mississauga Condos. which summarizes how this process typically pans out for landlord-cum-sellers and tenant-cum-buyers.
In this option, the landlord or seller extends the opportunity to buy the property after a period of time at a predetermined price, The tenant or buyer is required to pay an upfront option deposit which is mostly non-refundable. A portion of the monthly rent can also be applied towards the down payment to purchase the property.
However, this model is not everyone’s cup of tea. As newcomers and other first time buyers settle into their jobs etc. they may not want to be tied to a particular property and stand to lose money if they eventually do not wish to buy the same property any more.
To help people avoid these and other related issues, Team Kalia came up with a unique Rent Now-Buy Later program that provides peace of mind to prospective buyers in the various what-if situations.
Team Kalia’s “Rent Now-Buy Later” program
Here’s How We Help You Fulfill Your Rent to Own Dream!
As part of our unique Rent Now-Buy Later Program, we can assist you with finding a suitable property to rent for 1-2 years (max). Closer to the end of your lease term (or earlier depending on your readiness to purchase), we will start sending you for sale listings that closely match your needs. We will arrange for showings so that you can cherry pick the home or condo you would like to buy.
As a Buyer, when you Buy your home or condo with Team Kalia, you DO NOT pay us any fee or commission, as the Buyer Broker fee or commission is typically covered by the Seller in Canada.
What are the Rent Now-Buy Later Program Benefits
- Ideal for Newcomers, People on Work Permit, Millennial Home Buyers, First Time Home Buyers in Mississauga
- Gives you peace of mind – helps you secure a unit for rent in a typically tight rental market
- Gives you confidence – knowing that you will soon become a homeowner & contribute towards your own mortgage payment
- Allows you time to save for a down payment towards your home purchase
- Gives you time to figure out the best Mississauga neighbourhoods to buy in, based on your work, top schools & other criteria
- Makes you an informed buyer as we will educate you about mortgage, resale vs. builder new options, first time buyer incentives & much more
Whether you are looking for a Rent-to-Own buying option right now, or are interested in our Rent Now-Buy Later program, we are here to assist you!
