If you have never owned a home before, or owned a home in the past, or previous circumstances require you to rent a home now, and you’re hoping to buy a house again, there’s one possibility you might not have considered: purchasing the home you’re currently renting. That’s right — make a purchase offer to your landlord to buy the home you presently live in. The blanket belief your landlord doesn’t want to sell simply may not be true. By communicating your intention to purchase the house directly from your landlord, the transaction becomes easier for both parties.

Advantages to Buying a House You’re Already Renting

  • No competition, just you and the seller.
  • Both parties benefit because the seller enjoys reduced selling costs without using a listing broker.
  • Can be completed with or without a real estate agent.
  • More time to perform on sales contract.
  • No need to search for more homes as you may have already customized the home to your liking.