Buying a luxury townhouse is something most of us dream of, but only a select few can afford. However, there are ways that almost anyone with a decent income can afford to buy a townhome. Many townhomes are available for lease with purchase options and that makes it easier to buy your own townhome – you don’t feel the pinch in your wallet.

Most of these developers offer a lease and a lease-to-own agreement. If you lose ownership of the townhouse at the end of the stipulated period in which you rent it; For lease-to-own, a portion of the monthly payment is adjusted to the cost of the townhome and at the end of the stipulated period you can pay the full price of the townhome and own it forever.

This is probably the easiest method of buying a luxury townhome and there are several reasons to defend it.

Bad credit history: It is often difficult to obtain a loan if you have a bad credit history or even if you have obtained a loan with a good credit history, any defaults in the payment of the debt can lead to a bad credit history. Lease-to-own really helps avoid such a situation. As the payment is relatively low, it is easier for the buyer to make the payment. Additionally, the buyer gets the length of the lease period to offset / repair any bad credit history.

Save from house price inflation: At the time of the agreement, the buyer and the seller agree on a fixed price for the house. It is often observed that the price of real estate appreciates very quickly and at the end of the lease period the price of the house can be higher than the previously agreed price. This becomes a great advantage for the buyer, since he still gets the house at the previously agreed price and has the option to sell it at its appreciated value.

Try before you buy: In a lease-to-own agreement, the buyer can stay in the home for the lease period and this helps you understand if you are comfortable in that home. At the end of the lease period, you opt for the purchase option if you are comfortable with staying in that home.

Reduced maintenance cost: The buyer does not need to pay the maintenance cost during the lease period, it is borne by the seller. The buyer only pays the amount of the lease. This turns into a substantial savings over the entire lease period. Once the buyer finally takes ownership of the home, they begin to pay for maintenance costs, such as repair, insurance, and property tax.

These days, a growing number of realtors and developers are offering lease and lease-to-own for luxury homes and townhomes. Reputable companies such as Mocking Bird Properties also offer Townhomes for rent in Plano Texas. It’s about time you took advantage of this easy to own leasing method to get your own townhome.