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    Renters Guide

    🏡 From Renting to Owning

    A Simple Guide for Renters in the Roanoke Valley

    Your Personalized Rent-to-Buy Plan

     

    1. Why Consider Buying Instead of Renting?

    Renting can be convenient in the short term, but every month your payments are building someone else’s wealth — not your own.

    Renting: Limited control, rising costs, no equity.

    Owning: Stable payments, growing equity, freedom to make your home yours.

    👉 Example: Paying \$1,400/month in rent = \$16,800 per year. Over 5 years, that’s \$84,000 with nothing to show for it. As a homeowner, much of that money could go toward building equity.

     

    1. How Close Are You to Buying?

    Many renters are closer than they think. Ask yourself:

    • Do I have steady income?
    • Is my credit score above 600?
    • Can I save (or already have) 1–3% for a down payment?
    • Am I tired of rent increases?

    If you answered yes to most of these, you may be ready sooner than you thought.

     

    1. Local Loan Programs & Assistance

    In the Roanoke Valley, renters have options designed to make homeownership more affordable:

    FHA Loans: As little as 3.5% down.

    USDA Loans: 0% down in eligible rural areas (great for homes near Smith Mountain Lake!).

    Virginia Housing Programs: State grants and down payment assistance.

    Conventional Loans: Some offer 3% down for first-time buyers.

     

    Your Step-by-Step Rent-to-Buy Plan

      1. Check Your Numbers

       Review your income, rent, and debt.

      1. Get Pre-Approved

       A lender will show what you can afford.

      1. Set Your Budget

       Translate your rent into a mortgage payment range.

      1. Start Searching

       Explore starter homes, condos, and townhomes.

      1. Make the Move

        With the right guidance, you’ll go from renter → homeowner in a matter of months.

      2. Real Success Stories

           “We thought we’d rent for years, but with help from Gerner Co, we discovered a loan program that fit our budget. Now we own our home in Roanoke for less than we paid in rent.” – Local Homeowner

      3. Your Next Step

    ✨ Get Your Personalized Rent-to-Buy Plan

    We’ll help you figure out:

    * How much home you can afford right now

    * Which programs are a fit for you

    * A clear path from renting to owning in the Roanoke Valley

     

    📩 Contact Us:

    Eric & Amber Gerner, Realtors®

    Gerner Co Real Estate | Real Broker

    📞 540-353-1360 | 🌐 thegernerco.com