Even the Mega-Rich Rent to Own Their Dream Homes

Why Do Even the Mega-Rich Often Rent to Own Their Homes?

Because it Makes Sense. On many levels.

* Get to experience the home and the neighborhood before you commit to the actual purchase.

* Instead of just throwing away money on rent, which you will never get back, you can apply part -- or sometimes even ALL -- of your rent payments toward the purchase price of the home, helping you build up the down payment amount mortgage brokers and banks will require you to put down before they give you a loan. Is there any other way you are going to save up $10,000 or $20,000 or more?

Here's a Rent to Own success story about the former President of Facebook (now a mega-rich investment fund director, and founder of the newly popular music-sharing website, Spotify) and how he rented his new $20 million dollar home from some other mega-rich person before finally making the purchase.

Sean Parker, Spotify and Founder's Fund
Location: New York

Cost: $20 million
Bedrooms: 6
Bathrooms: 7 full, 1 half
Square footage: 7,500


Sean Parker disputes his bad boy portrayal by Justin Timberlake in the 2010 film "The Social Network." But the former Facebook president and Napster co-founder is certainly living it up in his new home, a $20 million West Village townhouse known as the Bacchus House.

Formerly owned by Italian liquor heir Enrico Cinzano, it includes an indoor pool and gym, garage, theater, a chef's kitchen and an elevator.

Parker, now a managing director at the Founders Fund, a San Francisco venture capital firm, and a director of Spotify, an online music service, PURCHASED THE HOME LAST YEAR, AFTER RENTING IT FOR SOME TIME, and throwing his share of over-the-top parties.

Call us at 630-697-4500 and we'll help you rent to own your dream home too!

Adam and Diane St. James
MyHappyHomeSolutions.com

Still More Reasons to Rent to Own Your Next Home!

I've previously written about 10 good reasons to Rent to Own your next home.

Here are a few more:

11. Opportunity: Rent to Own gives the long-time renter a chance to break out of the cycle of renting and paying off one landlords mortgage after another. And believe me, I've done it too. I rented for 15+ years before purchasing my first home, spending hundreds of thousands of dollars in rent that could have gone toward my own financial future. Owning a home is the number one way Americans build wealth. Renting is a dead-end road that you don't want to stay on too long. Rent to Own gives you the opportunity to move off that road and into the American dream with relatively little down. If you can't afford a conventional down payment (think like $40 grand or more for a typical home), then Rent to Own is the way to go!

12. No Taxes To Pay: Or homeowners association dues either! The owner continues to pay all taxes and homeowners fees (if there is a homeowners association -- not all properties have them) on the property until you actually purchase the home. When you do complete the purchase, you'll get to write these expenses off your income tax, thus reducing your annual tax bill, and earning yourself potentially large tax refunds for years and years to come! Real Estate is the number one tax shelter accountants and financial planners recommend.

13. Pride of Ownership: It's a wonderful feeling to leave renting behind and become the owner of your own home. We've been fortunate to help many of our tenant buyers complete the purchase of a Rent to Own home and realize the great American dream of home ownership. Isn't it your turn?

We've always got Rent to Own homes available, with more coming in week by week. Visit our website to find out more: MyHappyHomeSolutions.com