Question for some of the rental property owners around here:

I currently rent a home, but I'm toying with the possibility of buying it once the lease is up. Some background:

the landlord bought it from a company that flips houses. the kitchen was completely redone and I'm happy with the hard wood floors and paint.

the house needs rain gutters and the driveway and porch need to be completely repaved.

my question: do i have some play with the buyers price since i would've already paid them quite a bit of money while leasing. will the improvements I listed above knock off some of the asking price as well.

I plan to live in this house for a couple years and eventually make it a rental myself.

thanks for any advice / tips.

Most owners would assume they would have had that rental income anyway, from you or someone else ---- so that would not be factored in unless they make a non-business decision to do so. As for the other question, it depends on where you are located and how hot that market is.

290 and 610. where all of the 290 improvements are currently being completed. will there be some appreciation once the highway upgrades are completed?

Typically that's the case with improvements but I'm not sure specifically about Houston areas....I'm in D/FW.

it is. seller already told me what she bought it at and what she was looking to get out of it.

was just wondering. pretty new to this

thanks for the comments

Did this last year with the home that we were renting. I agree with above that you should not expect anything off of the house since they would have gotten that from someone else anyway, but it does not hurt to ask. We did get a better deal than if he would have had to put it on the market and go through the hassle of finding a buyer. The one thing that we did like was that we knew the house. There was nothing that could surprise us down the road.

were there any improvements or upgrades that needed to be made to where you chipped away additionally at the house?

i ask because the house i currently rent needs rain gutters and the driveway needs to be refinished. along with the porch and some inside carpet.

I wouldnt think you could ask for a discount for rain gutters and a new driveway. Those are improvements that you want, but are not necessary for the house to sell.

I have never heard of someone getting discounts for upgrades/improvements that they want, but only ones that were needed (furnace is out, broken window, broken tile, etc.)

OP you can forget the rent paid unless you have a contract. I'm guessing you don't.

What you do have is 6% realtor in play. That could be a lot of money. Seller pays this, most of the time, so now you need value of the home. I do not like any of the websites but take Zillow, Redfin, tax appraisal value and average it out.

If the deal makes sense then get market value from a Realtor. Pay a nominal fee if you can.

Get a number, subtract 6% off that number and your in business.

But the home owner will not just hand over the deed 7 say here you go. You'd still have to get a title company involved, etc. I don't know what all that takes but a realtor does all of that for you, hence the fee. If you have a buddy who is a realtor, maybe they can broker the deal for you guys, say 3%. That was the seller gets a reduced fee to pay, the cost of the house goes down, and your buddy is in debt to you.

12 people close deals without realtors all the time. Pick up the phone and call a title company and they will gladly help get it done and walk you through it just like I will in mortgage. Title is a cost on top of the 6% for realtors.

We considered this last year, but our landlord tried to give us a "deal" that was above market value and included a 6% discount...

If you decide to buy, you should request that your security deposit be applied toward the sale of the house or downpayment. Our landlord agreed to apply all of our security deposit toward the purchase of the house.

Good point on the deposit.
We've thought about buying the house we are in, but have decided against it. It is 15 years old and at that point where renovation is necessary and things start breaking.

quote:

---

Good point on the deposit.
We've thought about buying the house we are in, but have decided against it. It is 15 years old and at that point where renovation is necessary and things start breaking.

---

15 years is not old for a house.

Location and amenities are the key.