This Is a Unique Lease-With-A-Buy-Option Program!
So, how did Amanda Durbin and her family find their dream home through our Home Partners’ Lease With a Right to Purchase program?
They relocated to our area from Texas, and they were looking for a home to rent because they didn’t know how long they’d be here. While browsing for homes on Craigslist, she saw our program’s advertisement.
“I was really excited because it talks about your dream home,” Amanda recounts. “That’s all anybody wants—their dream home.”
She contacted us shortly thereafter. At the time, she, her husband, and their two children were living in an apartment, but that was too small as a long-term option. Finding a house to rent in Colorado was hard enough, and prices here were different than they were in Texas. Their rental lease was up at the end of their year, so Amanda guesses they would’ve had to move two or three more times between different apartments if she hadn’t found us and contacted us.
"We became cash buyers through this program. We just picked out the house with the help of Kittle Real Estate."
With our program, you only need to commit to a 12-month lease, and the requirements for Amanda and her family to qualify were pretty standard. They owned a house in Texas, so she’d been through the home search process before. We made this search extra easy for her, though.
“You actually did most of the work for me, which was really great.”
Their down payment actually was less than what they paid for their home in Texas, despite the fact that homes in Texas are generally cheaper. After she committed to the 12-month lease and put down the security deposit, she started looking for permanent homes within her family’s budget because her husband received a promotion at his job.
With this program, once you’re in the house you lease, you don’t have to buy it, but that’s what Amanda and her family decided to do. Buying the house for them was easier than a how a typical homebuyer uses a loan because they’d become cash buyers through the program. The program gives you the cash—we just pick out the house. You only pay a different price for the home than when you moved in if Home Partners determines that something about the home needs to be fixed. This increase, though, only comes to 5%. For Amanda, she and her family will likely have equity in their home within the first year.
“We were lucky. I found my dream home. It was great, and you were great to work with.”