Depending on your personal circumstances, leasing a home may be a better option for you than buying one. Consistently rated in the top 1% of Sotheby’s International Realty® agents nationwide for more than 25 years, Cristal Clarke not only specializes in the sale and acquisition of extraordinary estates and land, but she also assists the highest level of clientele looking to lease a property in Montecito, Santa Barbara, Hope Ranch, Summerland or Carpinteria. There are many advantages of leasing to consider:
Smaller Financial Investment
It’s significantly less money to enter into a lease agreement than it is to buy a home because leasing a home does not require a substantial down payment. You’ll also avoid the accumulated costs of owning a home, such as property taxes, homeowner’s insurance and interest on the mortgage.
Minimal Repairs and Maintenance
When leasing a house, you are not responsible for the upkeep, maintenance, and repairs. As a tenant, you will pay rent and some or all of the utilities, depending on the lease agreement. Even tasks such as lawn care and appliance tune-ups belong to the landlord.
Most lease agreements are for a 12-month period, meaning you can move out when the term is up. You’ll still need to notify your landlord of your plans to vacate, but you’ll be eligible for a refund of your security deposit.
No Loss of Equity or Property Value
Tenants who lease homes avoid fluctuations in real estate and neither gain nor lose. If you’re planning on staying in an area for less than five years, a lease might be a perfect choice.
If you could see yourself leasing one of the amazing properties in Cristal’s portfolio, just give her a call at 805.886.9378 or email her at Cristal@montecito-estate.com. Cristal has some awesome opportunities for you to look at to buy as well in Santa Barbara, Montecito and Hope Ranch. Check out her website for info on all the amazing, upscale properties currently on the market in these communities.