Domain: How to buy the home you’re renting from your landlord
‘For many renters, the time will eventually come to make the jump from tenant to home owner.
But if you simply love the home you’re already in; it’s possible to make an offer to the current owner to try to buy the home you’ve grown so attached to.
Sellers typically determine the value of their homes by obtaining appraisals from real estate agents, but this might not be the best option for tenants, says Scott Aggett, director of property negotiation agency Hello Haus.
Alternatively, he suggests arranging a valuation from an independent valuation firm, studying recent sales results and similar properties for sale to gauge the level of supply, and attending auctions in the area to understand the demand for properties.
“At this stage, you will have a good grasp on understanding market value,” he said.’
Read more on Domain.com.au.