Why It's Good to Sell And Lease Back House
Have you ever tough about profiting from your property? Have you ever googled your house and how much it's worth on the market? If you have, you know that you can make a lot of money from it, but then a question arises - where will you live? The answer is in the very popular deal that many people in Australia and around the world are making and it's called sell and lease back house.
Why it's good? Because if you want to make money out of your house you need to sell it, but then you'll need to find a place to live. You probably bought or built yourself that house a long time ago when the value of it was way different than now. It's a smart move to sell it and profit, but looking for another place to live is rather inconvenient.
To save the trouble you need to sell and lease back house. Selling it will provide you a lot of money. Let's assume that your house is worth $200.000. If you sell it and then become a tenant, you'll need to pay a rent. If the rent is around $1300 then you'll have enough money to pay the rent for 13 years. Of course, you can use the money the way you need them, which is exactly why you would sell your house, but the logic says that even if you don't spend a single dollar of the money, you'll still be able to live without pressure for a long time.
The best thing about sell and lease back house deal is that you get to stay in your own place and don't change anything of your habits you had before. There's no cost for moving either, and you don't have to deal with the annoying packing and moving every single part to another place and in a different part of the city. This is all exhausting, and with this kind of deal, all this won't happen.
Also, when you sign the deal and the house is no longer yours, you are ending your worries about paying taxes. This is a job for your landlord now, just like it's their job to fix everything around the house if it gets broken. Your job is only to pay the rent each month.
When you sign the deal, you and the buyer of the house will agree on the period of time they'll let you stay in the house. This is something that has no rule and you'll have to negotiate on the terms. It's better to ask for a longer period just to be sure that your future is safe. Also, make sure you get a clause in which you'll be the first one to be offered if the house is placed on sale. Who knows, maybe there will come a time when you'll want to buy back your house and you'll have enough money to do it.