>My first home purchase was the property I was renting. I was presented an opportunity to purchase my first home while I was renting it and I am so glad I did.
So often, we overlook the most obvious. Why begin looking for a home to buy when I was content with the property we were renting. A friend used to say “an opportunity of a lifetime must be siezed within the lifetime of that opportunity” and by purchasing the home I was renting I seized the opportunity and had these additional benefits:
No Moving, I did not need to move again (when I bought the property I was renting I did not have to move a single bed, dresser, entertainment center, etc…)
Save on Real Estate Commissions, both the Tenant and Landlord saved on real estate commissions (there was no Realtor marketing expenses because a Buyer had already been identified, it was me)
Less Stress,I did not feel rushed or stressed because I was already in the property. I wasn’t waiting for the keys because I already had them.
I paid down my own mortgage, my monthly housing payment now went to paying down the principal balance of my loan and no longer my Landlords mortgage.
Start making improvements, I could now paint the bedroom in expectation of our new born child and no longer needed to ask permission.
Tax Benefits, I now saved money on taxes because I had a significant tax benefit.
For more reasons why purchasing the property you are renting makes good ”cents” and why it is a prime to to buy a home, CLICK HERE for a FREE REPORT: “8 Steps to Buy a Home”
If you need help making an offer to your Landlord or Tenant give me a call.
Rick Fuller (925) 679-2289
Rick Fuller is an Active Real Estate Investor and the Broker for Rick Fuller, Inc Realtors in Antioch, Ca.