Following the Pandemic, the world that we knew has radically changed. We are not only talking about changes in the way we relate to others; or how jobs have moved from the office to our homes, or how we are starting to make the mask a new ally in our day to day. We are talking about the way in which we have been modifying previously proposed goals, such as having our own house. Today more people prefer to rent a property than to own it.
According to the Census Bureau Housing Data, more U.S households are renting that at any point in 50 years. A decade after the housing bust upended the lives of millions of Americans, more U.S households are headed by renters that at any point since at least 1965. The number of households renting their home increased significantly, as did the share, which rose from 31.2% of households in 2006 to 36.6% in 2016. The current renting level exceeds the recent high of 36.2% set in 1986 and 1988 and approaches the rate of 37.0% in 1965.
There are definite benefits to renting a home, for example, you won’t worry about property taxes, building maintenance, or more important lose sleep thinking if you qualify for a mortgage or not. Renting often delivers more value in the short term at a lower financial risk, and it is becoming an even more popular choice than owning a property. Indeed, in a 2016 Pew Research Center survey a third of today’s renters say they are renting by choice, not circumstances (72% of renters said they would like to buy a house at some point, but it´s not one of their priorities compared with 23% who say they would prefer to continue to rent).
However, those who do own homes are less and less likely to move. According to a Chase bank survey of 753 boomer homeowners released in 2019, fifty two percent of boomers said they will never move from their current home, in which they raised their kids and created lifelong memories.
Sell2Rent offers another method to turn your equity into cash; it connects you with an investor who will buy your house at market value and give you the opportunity to rent it back to you at market rent. At closing, you will receive the proceeds of the sale and a signed lease.
How Sell2Rent works
In Sell2Rent people knows how hard change can be. But they will help you to ease into it. That´s the reason why they are offering a method to access the equity you have while getting to stay in your home until you are ready to move on. This innovative option gives you the ability to sell your house, receive the cash proceeds, (after paying off any existing mortgage and closing costs) and lease it back from the investor that buys it. You will be able to receive the equity after the mortgage and closing costs are deducted, relieve yourself of real estate tax and insurance payments, free yourself from maintenance and repair headaches and remain in your home. You can negotiate a set rental payment and lease term in advance as part of your contract for sale and the landlord takes care of the property. This new opportunity will let you: cash out, stay and then… be free.
Their process is very quick and straight-forward, by answering a few simple questions you can get started. You will receive personalized service from a professional agent. From start to finish you will be dealing with the same individual who will guide you throughout the process and answer any questions you may have. The process is very transparent.
The Bottom Line for Homeowners Today
If you are tired of homeownership and have equity locked up in your house it might be the right time to set it free. With Sell2Rent, you may be able to sell your house to an Investor interested in keeping you in your home. The Investor purchases your property the traditional way pays off the mortgage loan at closing and you keep any proceeds that remain after your standard closing costs are deducted. The lease terms are agreed upon upfront and in some cases, you can prepay your first year’s rent using the closing funds.
Deciding to sell your house does not mean you have to move away. With Sell2Rent you can enter into an annual agreement and keep things just the way they are until it is the right time to move. No packing and unpacking or change of address, no new schools to adjust to or new roads to learn. Sell2Rent can help you free up your equity while keeping those familiar surroundings.