Do you rent a place you love and want to buy your first home? Why not buy your rental property – even if it’s not in the market?
While it may seem counterintuitive to consider buying a property that is technically not a sale, more and more Australian tenants are doing so and approaching their landlords through proxies.
‘the leasing phenomenon is real,’ said Amy sanderson, director of real-estate investment management at LJ hooker. “It doesn’t happen every day, but it does happen,” she said.
Mr. Sanderson says the bold ‘tenant shift’ is typically divided into two categories: tenants who rent property for a long period of time and are eventually ready to buy, but don’t want to risk moving. And potential buyers who move into the lease to ‘try’ a new field and eventually fall in love with their property.
“For these tenants, procurement is reasonable,” she said.
But how? ‘it comes down to research and realism,’ Mr. Sanderson says.
“Research, research, research! She said. “Go to realestate.com.au and search for properties that are similar to your property, and then look at these properties to see what the real comparison is.”
Then, pay close attention to which properties are sold and recorded.
“Compare these features with your product and determine what you think the market value is. If you pay the real estate odds, because you want to protect it, you want it to be your conscious decision, not because you don’t know, “sanderson said.
Contact with owner through market intelligence and quotation, although property manager.
“I would suggest writing down your quotation so that your message is clear and unmisunderstood. Talk about what you like about the property, what’s been sold recently, how the property compares and what your price is, “she said.
‘it’s also a great idea to’ know the cost and process of selling the house, ‘so it’s no surprise,’ Mr. Sanderson says.
If the owner sells the product directly to the tenant, they may save some of the cost and pressure – which means that you may negotiate a price that suits your savings.
Sanderson explained that the sale of the landlord depends on the individual.
“People are buying investment real estate to make money, so people are thinking about selling, and they need to feel like they’ve got a return on their investment. The tricky part is that everyone has a different view of the rewards. “