The best time of year to generate more buyers is tax time. In my opinion, converting renters into homeowners is the way to do just that. We all know that there is no real benefit to renting unless we absolutely have to. There are so many first time buyer loan programs, 3 percent down loans, 100% financing etc. and that’s just to name a few that I have seen, and had the privilege to close. Most people who rent may not know that the rent amount they are paying, could be equity in their own home. I have a great tool that will help you explain to your renting friends and clients the value of owning their own home based on their monthly rent payments. Let me know if you’re interested.
Many REALTORS® have been able to use this tool to successfully convert renters to buyers. Tax time is perfect because renters realize they don’t get any credits or tax breaks as a tenant. They have no interest to write off, no benefits of home-ownership, and they are just paying off the mortgage for the landlord, who will eventually own the home. Renters/Tenants are always subject to a 30 day notice to move. That can be a rude awakening, especially in a short sale or foreclosure market.
Tis the season to help the renters in your area understand the benefits of home-ownership, the creative financing that is available, and why they should use you to find them their dream home.
Lend a helping hand to the renters in your area! They could use your help into home-ownership!