Usually the order goes like this: you buy a home, live in it for a few years, maybe do a few little projects here and there, and then — if everything goes right and your bank account allows it — you get to call the shots on a major home reno.
Right now for one extremely lucky ZeroDown customer, that timeline is about to completely upended. The lease-to-buy company is partnering with Austin Flipsters to surprise the first qualified ZeroDown customer with an amazing transformation, taking an average home and turning it into a dream home.
ZeroDown works like this: Customers go shopping for their desired home, which ZeroDown buys for cash and rents back to them (no down payment required!).
Customers pay rent to ZeroDown and have a valuable option to buy the home on their own timeline at an attractive price. That's because ZeroDown will increase the purchase price for the customer by 2.5 percent per year during the three-year option period, a small fraction of the 12.1 percent year-over-year home price appreciation calculated by the Austin Board of Realtors for September 2020.
All of the upside above the 2.5 percent annualized level can be captured by the customer if and when they choose to buy the home from ZeroDown. Unlike a mortgage, there is no upfront down payment involved, even for pricier homes above $1 million, and the customer can decide to leave the home anytime after two years without the intense friction of having to list and sell the homes themselves.
Typically ZeroDown only buys move-in-ready homes, but for this special occasion, the company is looking for a diamond in the rough.
Working with Austin Flipsters, the YouTube-famous pair that pulls the curtain back on home flipping, the lucky customer gets to call the shots and put their design stamp on their new dwelling.
Better yet, all ZeroDown customers can enjoy 20 percent off their starter fee and 5 percent off rent until December 15. There's no better time to try before you buy, and who knows? You might soon be moving into your dream home.
Be sure to check out ZeroDown's The LowDown for more updates, and to cast your vote for the best neighborhood in Austin.