It’s tough enough to move even when you are just moving a short distance. Relocating to a new city or state is one of the most stressful and distressful experiences there is for a family, particularly if you are unfamiliar with the area you are moving to.
One of the most difficult, but important decisions a home buyer makes when moving to a new area is selecting which neighborhood to live in. School system and average home price data is easy to find out, but what about the less tangible factors like walking distance to great restaurants and the quality of nearby public parks?
To reduce the risk of making the wrong choice when moving to an unfamiliar city, many people like Jesse Singh, an executive at HOV Services, are opting to rent their home instead of buying it. Jesse, along with his wife and their two young children, have moved three times in the past five years ” most recently from to Atlanta to Denver.
Jesse was concerned that he would have to move again and not be able to sell his home if that occurred too soon. In addition, although he and his wife have spent a lot of time in Denver hotels, the airport, and the HOV office space, there has been little time in their busy schedule to get to know the Denver metro neighborhoods. My staff at Denver Rent a Home, who are all Colorado natives, were able to alleviate these concerns by finding them a home under a Lease with an option to buy, so that they can take time to get to know the neighborhood without the baggage of a mortgage should they chose to move within the city or need to relocate again.
Another client of Denver Rent a Home who moved to Denver from Scottsdale, AZ for a business opportunity chose to rent instead of buying a home because they were having trouble selling their home in Scottsdale and didnt want to be burdened with two mortgages. The couple has rented their home in Scottsdale and is now leasing a property in Denver, which was a great option for them. An additional consideration to this decision was that they wanted to get to know the area and the schools their two young girls would be attending before committing to a home purchase in Denver.
Lease with purchase options are increasingly popular with my clients, especially those moving from another city or state. It feels so good to be able to find great properties for families so they can integrate into a community quickly without the relocation risks folks have had to bear in the past.
A key component to making the lease option work for you if you are relocating to a new area is to find a local agent who is familiar with the area and committed to the lease option strategy. They will save you a lot of time you’d otherwise spend searching online, making phone calls, or even having to move several times to find an acceptable location.