Once you sell your house and stay as a renter you free yourself of most of the burden of home ownership. Depending on the terms of your arrangement, the repairs and maintenance of the property will fall on the new owner of your house. If the plumbing clogs or the roof leaks, a phone call to the property manager handles the issue. Things like lawn care, pool maintenance, pest control are usually included as well.
Another benefit of selling your house with a Leaseback option is the ability to cash out the equity that you can use immediately without upsetting the balance of your life.
Whether you have college to pay for, a new house to build or want to take a long overdue family vacation, a Leaseback may give you the cash you need to accomplish those goals.
Deciding to sell your house does not mean you have to move away. With a Leaseback you can enter into an annual agreement and keep things just the way they are until it is the right time to move. No packing and unpacking or change of address, no new schools to adjust to or new roads to learn. This new trend can help you free up your equity while keeping those familiar surroundings. In a Leaseback it may no longer be your house but It can still be your home.
