American Dream: If your dream home is just out of reach – find a “partner”

Real estate agent Amanda Pereira explains a unique program for people looking for a new home to Tyler Ryan

COLUMBIA, SC (WOLO)-If 2019 is the year that you decide to relocate, either across the country or across town, finding and buying your dream home in your budget can be a bit challenging.  With the real estate market on fire in many regions, inventory in a specific price range or requirements are very tight.  Some perspective buyers find difficulties with funding because of credit or other short-term financial issues.  Another scenario that can prove daunting to would be homeowners is often geographical – If you are new to an area, you may not know exactly where you want to put down your stakes on a forever home.

According to Coldwell Banker real estate agent Amanda Pereira, there is a program  that is designed to help with all of these potential roadblocks.  Pereira says that organizations like Home Partners offer a unique “partnership.”  She explains that the process is pretty simple – you identify a home that is on the MLS or for sale.  Home Partners will purchase the home for you, and allow you to rent it for up to five years.  At each anniversary, you have the opportunity to purchase the home from Home Partners.  Perira points out that this is not a “rent to own” scenario.  She says that essentially, you are leasing the home, with the option to buy.

The benefit to the arrangement is that as the prices of home values continue to rise, you know exactly how much your home will cost to purchase as far as five years in advance, regardless of what the market does.

The program happens pretty quick, and families can often be in their new home in a shorter than traditional time frame for closing.  There are also no closing fees or other costs that the lessee is responsible for.

You can learn more about the Home Partners program HERE.