As a homeowner, you know that there are a lot of responsibilities that come with owning a property. Have you ever wished to live in your home but not own it? By renting your own home, you can experience all of the benefits of living somewhere you love without the responsibilities and stressors of homeownership.
Benefits to Renting
Renting is not subpar to owning a home. Mortgages can take years to pay off, so even when you “own” a home, it is not technically yours until much later. Because a mortgage can take so long to pay off, you may feel stuck in that property. When you choose to rent instead, you have much more flexibility. Rather than paying mortgage bills, you will pay a set amount of rent each month. You can often negotiate with landlords about lease lengths and choose to renew as it is convenient for you. This allows freedom to pick up and move if you need or want to fairly easily.
Selling to a Cash Homebuying Company
If you want to make the switch from owning your home to renting it, you should sell to a cash homebuying company. Cash homebuying companies specialize in buying property, renovating or repairing, and reselling or renting it out very quickly. These companies are so efficient that they can complete the buying process in as little as one month.
Rent Back From the Company
Make sure to mention in your negotiations and communications with the company that you are interested in renting back your home from them. The company is free to choose who they want to rent to, but they will probably be willing to rent to you since you care about the property and want to live in it. To make sure that you will be able to rent your home back from them, you can ask for this to be written into your agreement with them.
Just as when applying for any other rental, you need to be able to show that you are a trustworthy, reliable renter. Do what you can now to build your credit score and have sufficient income to pay for rent. A cash homebuying company will be more likely to rent your home back to you if they know you will be a good renter.
To experience the extensive benefits of renting rather than owning your home, reach out to Sierra Housing Solutions Cash here today.