Steps from RENTER to HOMEOWNER

By
Real Estate Broker/Owner with Diane Rice, Rice Prprty Mgmnt & Rlty, LLC, South Holland, IL 481.010183

   

Every tenant will not become a homeowner. A TRUE homeowner "to be" is someone who takes responsibility for themselves. They will not look for someone else to contribute to their cause. It is someone mature. It's someone who has added up the cost, and is willing to pay it. It is someone who does not need a "lord" over their land to supervise or make choices for them.

They have tempered their appetites in a prioritized manner. They are not looking for a hand-out. They are goal oriented and realistic. Rents are paid on time every month, and excuses are rarely made. These attributes become apparent while the "homeowner to be" is still renting. 

There are many reasons why a renter may not have taken the steps to become a homeowner.

Here are three:

  • 1) low credit scores
  • 2) lack of knowledge
  • 3) fear of leaving a set comfort zone

All three can be overcome when the tenant chooses to take the leap and/or come in contact with the truth about  home-ownership. 

 

 A Realtor can assist an apprehensive  potential homeowner by gaining their trust as they educate, answer questions, and guide them step by step. Investing in tenants who are transmitting these "signals" of future home-ownership is very rewarding!  

Some "potential homeowners" may fall into the category where they may have to "rent to own".  These are those who have admittedly disregarded their credit in their unwise decisions made in the past. These are those who have regretted their mistakes and have taken the necessary steps to rectify these errors through credit counseling and self-discipline.  Some good tenants choose not to become homeowners for various reasons, even though they qualify.

Renters who are looking for hand-outs do not have ownership mentality.  Some of these are the ones that make a life using governmental supplements, and do not plan to come off.  They have limited expectations, and lack a desire to achieve.  These are the "excuse" makers. These are among the ones who may think the world owes them. They have a do not care attitude about the landlord or his property. These are those who take the time to KNOW their tenant rights and exert them to the fullest. Some of these will live from eviction to eviction with no remorse or embarrassment.  These are of the lot of "professional squatters" who lack moral ethics." Do not look for your future homeowner from this selection!

                               

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Show All Comments
Rainer
111,189
Carole Cohen
Howard Hanna Cleveland City Office - Cleveland, OH
Realtor, ePRO
Happy New Year Diane! And please, hand this out to every apartment dwelling you know of, this is terrific. I love your three reasons.
January 01, 2007 04:30 AM #1
Ambassador
1,434,468
Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection
Diane this is the renter market in a nutshell, thank you for the concise presentation.  Here is hoping you will have great success this year.
January 01, 2007 07:27 AM #2
Rainer
227,568
Diane Rice
Diane Rice, Rice Prprty Mgmnt & Rlty, LLC, South Holland, IL - South Holland, IL
SFR, SRES, CNC

Carole:  Thank you for your vote! Happy New Year to you also!  Passing this out really is an idea i had not thought of - thank you! - i will do it! 

Jennifer:  It's folks like you on AR who have and are encouraging me to become successful.  It's like:  "y'all got my back!"  Certainly my wish is for the success of all of the Active Rain family too!

January 01, 2007 01:24 PM #3
Ambassador
1,278,241
Loreena Yeo
3:16 team REALTY ~ Locally-owned Frisco TX Real Estate Co. - Frisco, TX
RealtorĀ® | Frisco TX Community Ambassador

Diane: I cant said it better than you did.....

Rents are paid on time every month, and excuses are rarely made. These attributes become apparent while the "homeowner to be" is still renting. 

And I agree 100%.

January 13, 2007 12:01 PM #4
Rainer
227,568
Diane Rice
Diane Rice, Rice Prprty Mgmnt & Rlty, LLC, South Holland, IL - South Holland, IL
SFR, SRES, CNC
Loreena - for sure!  and sadly these are of the group of homeowners who end up losing their homes to foreclosure.
January 13, 2007 09:55 PM #5
Rainmaker
851,724
Jeff Turner
RealSatisfied - Santa Clarita, CA
Diane... I put an excerpt of this post on RainForChange.com. This is an example of how this might work. Anyone of the guest bloggers can select a post for the site. The post will them be categorized and eventually we'll have lots of posts for people in "rent to own" situations, or for real estate professionals looking for rent to own information for community training.
January 21, 2007 01:43 AM #6
Rainer
227,568
Diane Rice
Diane Rice, Rice Prprty Mgmnt & Rlty, LLC, South Holland, IL - South Holland, IL
SFR, SRES, CNC
Jeff thanks!  Perhaps you should excerpt the "hope for your sitting listing" post.  It's relevant.  By the way, i did feature you in the Challenges Group!
January 22, 2007 09:47 AM #7
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Diane Rice

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