Friends and family will tell you, “owning a home is a great way to build wealth.” We agree! Read about why owning a home is a positive experience here, here, and here.
Paying rent gives you a roof over your head, but the money and tax benefits go to someone else, and you have to ask permission to do anything that suits your style. Rent-to-own is similar, but you’d be surprised how little of your monthly payment goes toward owning the home – - not much!
Buyers of RebuildUS homes have an entirely different experience. First, RebuildUS is a lot more flexible than a bank of landlord in approving financing. When RebuildUS buyers make a payment, they own exactly that much more equity in the property, dollar-for-dollar. They get the tax benefits of ownership. And all the while, they can make it their own.
Paint the walls mango yellow? Go for it. Add a bathroom? No need to ask a landlord’s permission!
Keep your eye on this space for more information about the benefits of buying a home.
In an article titled “Rents Soar as Foreclosure Victims, Young Workers Seek Housing”, Alejandro Lazo describes how, in major cities such as Los Angeles, competition for rental properties is forcing the cost of monthly rents through the roof.
Actually, the “foreclosure mess” has created a new opportunity: now, many people who are renting can buy a home.
RebuildUS is able to acquire foreclosed homes in bulk from banks, and offer them for sale to people who might otherwise rent. For many, the opportunity to own a home is still “The American Dream” in which a renter’s “deposit” is a buyer’s down payment, and instead of “paying the rent” the homebuyer has a pathway where every dollar goes toward full ownership.
And, when that monthly payment is designed to be lower than local rents, then the home buyers can really begin to build wealth.