Living To Possess Forever!

Living To Possess Forever!

Living To Possess Forever!

Adam and Shelly worked for an international PR firm in London. They got married the previous year and moved into Adam's family home in Leatheread. Its common sense that they were having severe problems in commuting and a greater problem was buying an apartment/house in London due to their sky-high price. Neither did they have enough finances to make a down payment nor did they have a strong credit history for banks to lend them money. So was it that they had to live as tenants throughout their life in London or was it that they would have to look for other job options locally.

No, they didn't compromise either of them. 5 years down the lane they bought their own apartment in London as well as kept up with their PR job in the same company. Thanks to the agents who offer the "rent to buy" scheme. A scheme that allows you to take possession of your selected apartment from day one without any fat down payments.

The scheme is simple and hassle free. Select the area of your preference, and a house/apartment of your choice. The next step includes fixing the price and the time of possession. Hypothetically, let's take the price fixed to be 150, 000 and the time of possession to be five years from now. If the price of the apartment rises in these five years to say 250, 000 you don't have to worry to pay the difference in price after five years. Your price remains fixed at 150, 000.

You might be wondering that if you pay the price five years from now, how can I say that you take possession of the apartment from day one. The simplest answer is you enter into the apartment as tenants on a fixed rent (500 per month) and by making a nominal down payment of say 1000. The rent fixed is often less than the market rate. At the end of 5 years you find that you have already paid 60, 000 of the cost price. That is to say, the rent you paid for the five years counts towards the price of your house. At the time of possession these 60, 000 gets deducted from the cost price. The down payment of 1000 is also deducted. So, at the time of possession you pay 89, 000 only.

So, eat, drink and be merry. Buying an apartment is no more a pain in the neck. If you are patient enough to wait for some time you can be an assured home owner, courtesy "the rent to buy scheme".sell house fast

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