Lease To Own – The New Solution to Mortgage Problems

Posted by on November 20, 2012

The recession caused many changes to our current economy. Banks have changed their policies and enacted tighter restrictions on who they lend their money to and the qualifications needed to get approved. This has caused a considerable amount of problems for those who are young and just starting out with no credit. It has also hurt individuals who have fallen on difficult financial times with bad credit or a past bankruptcy. Those who are self-employed or are new to Canada have also experienced issues with getting loans or acquiring a mortgage for a home. In these difficult times, the real estate market has had to adapt to the new restrictions on mortgages and loans. This is where the lease option to buy homes makes sense for so many. Although it has been around for a while, the lease to buy option has become more refined to help people who have dreams of owning a home but can’t afford a large down payment.

Sandstone Management is a Canadian real estate management and investment company that specializes in assisting individuals who hope to become home owners. The lease to buy option is fairly simple. Sandstone works with you to find the right home for your price range based on your financial situation and what you can afford.  After you select a home, they inspect the home, negotiate a fair market value and arrange the financing. You then agree to a lease period and predetermined price for when you are ready to purchase your home. A relatively smaller down payment than a traditional mortgage requires is set (usually around 5%).  You then make affordable monthly payments for a fixed term. This term can be anywhere between 1 to 5 years. During this time, mortgage experts assist you in building equity and creating an improved credit rating. A portion of each monthly payment will go towards your down payment, helping you get ready for the big day. At the end of the determined fixed period, you will apply for a mortgage on the house you have been leasing with money in your savings and a favorable credit rating.

The more impressive benefit lies within the fluctuations of the market. Since you agree upon a predetermined price for the house, you gain from any change. If the market price rises above the pre-determined price, you benefit from the rise. If you put money into renovating or decorating your home, you can benefit from the added value as well. This extra value is the equivalent of building equity – even before you take possession of the home. Don’t let the inability to get a mortgage become a barrier; you can own a home before house values rise even further though a Toronto rent to own program.

Many people make the mistake of staying in apartments or renting homes from landlords while they wait for their credit or savings to change. This can be a big mistake. You are literally giving your money away each month and running the risk of increasing rent prices. If you choose the lease to own option, you are removing yourself from financial stagnation and taking steps to improve your lot in life. Don’t let landlords and banks take away your dreams of home ownership when you can make your way there in time, with a little help. Home ownership is the way most Canadians build wealth and financial security.

Call Sandstone Management today at (905) 235-0841 and learn about the opportunities with the lease to own option in Ontario. Say goodbye to overpriced apartments, suffering with bad credit, bank denials, and lack of assets. You can build equity, acquire an asset, and see your hopes materialize with help from the professionals.   Learn more at their website:

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