The best thing about living in Atlanta is its moderate temperature, unlike other states, Atlanta’s residence enjoys all four seasons in a moderate way. Therefore, it has become an ideal place to live, especially if you want to see spring in its full bloom for a long time or if you like to play snowball games with your family. However, the cost of property is skyrocketing since 2020. So, the cheap option to live in Atlanta is by leasing a home rather than investing liquid money in buying a home.
If you are still feeling unsure about whether to opt for a mortgage or to consult an expert for lease option Atlanta, then you have come to the right place. Herewith we have mentioned 5 benefits of owning leased property, that will surlily entice you. Despite what people say, owning a property is best for those who want to settle down. So, if you have a wandering soul or you just can’t qualify for the mortgage then there is a still for you, in the form of lease options. Let’s get into the details of why renting a property could be a better option for you.
Benefits Of Leased Own Homes In Atlanta
No need for maintenance
Owning a property means you had to pay for everything from maintenance to upgrade costs and for seasonal modification. Unlike this, living in a leased own home means the lessee won’t have to pay for any modification or repair fee, even in the wake of roof damage due to natural causes. Because, upon signing the lease option, the lessee is just required to pay a down payment equal to one month’s rent which the leaser uses for repairs.
In addition to this, the leaser is also responsible for keeping the property in optimal condition. This makes renting super fun. Because, if the lessee’s roof starts leaking or water backflows, etc. then the homeowner has to pay for maintenance. Moreover, homeowners also have to pay for the insurance fees, property tax, repairs, etc.
Renting Mean Enjoying Free Amenities
The next thing on our list is access to amenities. Wondering how? First, the lessee won’t have to pay for any modification or even for pool installation. This means, if you are leasing a house that comes with a pool, patio, garage, or free parking space, then you can use them by paying a small fee. Or if you are leasing an apartment or condo then you are entitled to use all the facilities available in the build. Unlike this, homeowners have to pay to play.
Secondly, Lease purchase Atlanta may also include dedicated parking space, low utility bills, and zero property maintenance costs. However, when it comes to mortgage-owned property, self-owned property, the owner has to pay a huge amount from designing a pool to higher labor for pool installation and home modifications.
No Need To Pay Real Estate Taxes
In addition to amenities, there is another benefit that the lessee can enjoy and that is, the lessee won’t have to pay for the real estate tax. And, for this very reason living in Atlanta has become super fun because the actual property owners are paying almost for everything, including the insurance fee, property tax, and much more.
When it comes to owning a property and simultaneously managing the conditions, lessee gain more advantages. By down payment we mean, unlike mortgage property owners, lessee get their down payment back upon vacating the property. Of course, it is subjected to the condition of the property. On the other hand, the mortgage buyers get to own a property but they don’t get the surplus back.
Lastly, the thing that makes leasing the house, apartment, condo, and bungalow is the fixed rent amount. This means no matter how much the market value of a house fluctuates; the rent amount will remain the same throughout the lease duration. Comparatively to this, the mortgage payment keeps on fluctuating which makes mortgage payment a hassle because every month marketing fluctuation causes the mortgage payment to fluctuate too.
The bottom line about the lease-purchase homes by owner is a chance to live in dream house, by simply paying a reasonable amount for 12-month duration. Moreover, you can renew the lease duration for another 12 months. So, if you are planning to live in Atlanta for a few months then instead of buying a house, it is better to go for leasing, as it could save you a lot of money on property maintenance and tax.