The home sale lease-back idea started with older adults in mind. The premise remains solid - many seniors have accumulated great wealth in the form of equity in their homes. Selling the home for full market value frees up more cash than a home equity loan or reverse mortgage. With cash in hand, seniors can better afford to stay in their homes (with money left over to pay for needed care, travel, you name it). Almost as nice is that debt is paid off, maintenance may be included in the rent - as are real estate property taxes. This is a solid idea.
Home owners of all ages have caught on to the idea. They are selling their home while home values are historically high. Busy homeowners love the maintenance free concept, while home owners who are looking to buy a new home are putting aside cash that can be used to help them stand out from other buyers. There's also the home owner who wants to pay off debt. The list of why's behind the appeal is long.
So how does this work, you may ask? CLICK HERE!
What does FORBES say about sales lease-backs? CLICK HERE!
What does MOTLEY FOOL say about sales lease-backs? CLICK HERE!