Archives April 2022

Richard Vesole Explains How Rent-to-Own Homes Offer Unique Opportunities for Homebuyers

Real estate investor Richard Vesole recently explained how rent-to-own properties offer unique opportunities for aspiring homeowners.

Rick Vesole is a real estate investor and the owner of more than 600 single-family rent-to-own homes. Vesole stated there are a lot of misconceptions about rent-to-own homes and the pros and cons of purchasing one. He recently discussed how rent-to-own properties are beneficial for individuals eager for homeownership.

What Is Rent-to-Own?

A rent-to-own homeownership agreement involves committing to renting a home for a required amount of time. The renter may also make an offer to purchase the home before or when the lease runs out.

There are two types of rent-to-own contracts: lease-option and lease-purchase. The lease-option contract gives the renter the option to buy the home when the lease is complete, and the lease-purchase contract requires the individual to buy the house.

The renter/buyer pays rent monthly throughout the course of the lease. Sometimes, this rent becomes a portion of the payment for the home. The renter may also be responsible for maintenance and repairs on the property, which is uncommon in rental agreements that are not rent-to-own.

Benefits of Rent-to-Own

Rent-to-own is not for everyone, but it can be extremely beneficial to some. Rick Vesole explained it’s important for individuals to research if a rent-to-own agreement is right for them before taking the leap.

Getting Finances in Order

It is most useful for individuals who do not yet have the finances to purchase a home. Vesole explained that the rent-to-own process allows some buyers the opportunity and time to improve their credit scores or save for a down payment.

Insight Into the Neighborhood

Choosing the right place to live is a major decision. A rent-to-own situation allows individuals and families time to familiarize themselves with the neighborhood before going all-in on a purchase.

Securing the Right Price

Signing a rent-to-own contract can help individuals lock in the asking price for a property. Housing prices can fluctuate drastically based on the local economy and a variety of factors. Vesole suggested individuals truly interested in purchasing the property include a locked-in asking price in the contract.

Connection to the Home

A typical rental agreement often leaves the renter feeling detached from the home because it is not technically their own. A rent-to-own agreement offers the peace of mind, security, and joy of homeownership, even though the product is not fully the renter’s yet. Rental payments often contribute to the down payment for the home, which will become home equity farther down the line.

Rick Vesole and Rent-to-Own Properties

Richard Vesole is one of the largest owners of single-family rent-to-own homes in the Quad City metropolitan area. He is a real estate investor and attorney specializing in real estate law. Vesole explains that rent-to-own agreements are expected to rise and become even more helpful as younger generations struggle to save the finances needed to purchase a home outright.…

The Average Homeowner Gained More Than $55K in Equity over the Past Year

CoreLogic’s latest Homeowner Equity Insights Report shows that equity for homeowners has increased by $55,300 in the past 12 months.

Home Equity: The Importance of Home Equity

You should be aware that your net worth has just increased if you are a homeowner. This is due to rising equity in your home. Equity is the value of your home less your home loan (if any). You are building equity faster than you might think – this is great news!

What is the reason for equity’s rise? Due to low inventory and high buyer demand, home values are rising. Dr. Frank Nothaft is Chief Economist at coreLogic.

“Home prices rose 18% in 2021 in CoreLogic Home Price Index. This is the largest annual gain in its 45-year history. It has generated a large increase in home equity wealth.”

How rising equity impacts you

Equity can help you reach other goals, such as buying your next house. The equity you have built up in your house will be returned to you when it is sold.

It may be the right thing to do in a market where equity is high, or even all of the down payment for your next home.

Bottom line

If you are looking to move, equity can make all the difference. Let’s get in touch to find out how much equity your home has and how you can leverage it to finance your next purchase. Call us today!

This post was written by Josh Dotoli! Josh is the owner of Josh Dotoli Group which is a laser-focused real estate team at Compass comprised of industry experts selling Fort Lauderdale’s best neighborhoods. This dynamic group is one of the top-selling real estate teams in South Florida with over $94 million in sales in the past 12 months alone. Looking for victoria park Fort Lauderdale homes for sale, we are the real estate team for you!…

South Florida Still a Good Investment in 2022?

In 2022, beach houses will still be a lucrative investment despite concerns about rising sea levels. Due to the continuing rise in coastal living, Harbor Beach and Fort Lauderdale will see an increase in popularity.

Now is the right time to buy a beach house!

Fort Lauderdale is an excellent place to live, since the city is always changing and growing. The weather is great all year! What are you waiting to do? Get started on your search today for the perfect Fort Lauderdale Harbor beach home or Fort Lauderdale beach house!

The Pros of Buying A Beach House

Your wealth will be preserved by investing in a beach house

A house on the oceanfront can be a great investment that will make you a lot of money.

You can also keep the property and rent it to tourists.

An oceanfront home is an excellent investment that will pay dividends for many years.

Tax advantages

You can enjoy certain tax benefits by owning a Fort Lauderdale beach home.

You can, for example, deduct interest on your property taxes and mortgage from your taxable income.

This will save you money over the long-term.

Enjoy Modern Coast Living

Living by the ocean is something that’s unique and cannot be duplicated elsewhere.

It’s unforgettable to hear the waves crash against the shore and smell salty air.

There’s no better time than the present to realize your dream of owning a beachfront home.

Consistent increase in beach property’s value

Beachfront properties have seen a steady increase in value over the years. This means that you can expect your investment to rise in value.

This is because there’s only so much land available.

The value of your beach home will only increase as the population grows and the demand for coastal living rises.

This post was written by a real estate expert from the Dotoli group. Josh Dotoli is Paramount Residences #1 Selling Realtor with nine sales in 2021, 3x more sales than any other Realtor selling in the building. The Paramount Residences enjoys a prime beach area location. It is a Ft. Lauderdale oceanfront condo located across from the beach. Interested in learning about  Paramount Residences Fort Lauderdale Price? Contact us today!…

Tiffany House Fort Lauderdale, a Boutique Luxury Condo

Many secondary homeowners call Fort Lauderdale home. Many people are eager to spend the winter months at Fort Lauderdale’s sunny beaches, while escaping the harsh winters. People who visit Fort Lauderdale for winter months either rent short-term apartments or search for Air BnB’s that are within walking distance of the beach. It’s difficult to find this type of residence due to the limited supply and high demand. We see many tourists coming down to search for something more permanent. Buyers used to look for luxury properties on the beach or near the beach without spending more than a million dollars. The development of Tiffany House Fort Lauderdale has solved this problem.

Tiffany House Fort Lauderdale, a boutique luxury condo, was built in 2018. There are 129 private residences in the 12-story building, which includes townhomes and condominiums with 1, 2, and 3 bedrooms. The exclusive resort-style amenities offered by Tiffany House include valet parking 24/7, concierge services and an electric vehicle charging station. There is also an outdoor gym, meditation area, and a private car park.

Tiffany House is a unique investment opportunity for potential buyers because residents can rent their units out when they’re not there. There are no rental restrictions. The unit can be rented out daily, weekly or monthly by residents. The length of the individual’s ownership of the unit will determine the conditions. This is a great way to make your vacation destination investment grow even if you’re not living there. This equity investment pays off over time.

The Tiffany House is an excellent investment for anyone looking to diversify their portfolio by investing in income-generating real property or looking for a luxurious, resort-like property. Modern, open-plan floor plans are available, as well as impact-resistant floor to ceiling sliding glass doors and windows. There are also top-of-the-line appliances and smooth nine-foot ceilings. There are many amenities in the building, including a fully-equipped one-state-of-the art fitness center as well as a private residents-only lounge and terrace. The private roof is a personal green roof for residents. Enjoy a breathtaking view from your balcony.

Tiffany House Fort Lauderdale Beach has a variety of floorplans. You can choose from traditional condo layouts or townhome-style designs. Most residences feature one-bedroom apartments with gourmet kitchens and high-end appliances. Many units have large closets and separate dining areas. Many floor plans offer views of the Atlantic Ocean, Intracoastal Waterway or lush tropical landscaping.

This post was written by Dayana Susterman Dotoli. Dayana is the head real estate agent for the Tiffany House In Ft. Lauderdale Beach. Dayana has assisted over 150 individuals with buying, selling, and leasing at Tiffany House. The Tiffany House Residences is a 12 story tower,  offers 129 residences, including 1, 2 and 3-bedroom condominiums and townhomes, with exclusive, resort-style amenities and views of the Intracoastal Waterway and the Atlantic Ocean. To view a Tiffany House Condo Fort Lauderdale for sale, Contact us today!…