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

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

This is probably the easiest method of purchasing a luxury townhouse and there are several reasons to advocate it.

bad credit history: It is often difficult to obtain a loan if you have a bad credit history or even if you have taken a loan with your good credit history any failure to pay the debt can cause you to have a bad credit history. Leasing to own actually helps to avoid such a situation. Since 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 negative credit history.

Savings from home price inflation: At the time of the agreement, the buyer and the seller agree on a fixed price for the home. 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 may 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 appraised value.

try before you buy: In a lease-to-own agreement, the buyer stays in the home for the duration of the lease, and this helps them understand if they feel comfortable in the home. At the end of the lease period, you opt to purchase if you feel comfortable staying in that home.

Low 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 lease amount. This turns into a substantial savings over the entire lease period. After the buyer finally takes possession of the house, he begins to pay maintenance charges, such as repairs, insurance, and property taxes.

These days, an increasing number of real estate agents and developers offer leasing and leasing for luxury homes and townhomes. Reputable companies like Mocking Bird Properties also offer townhomes for rent in Plano, Texas. It’s about time you took advantage of this easy lease-to-own method of owning your own townhome.