Breaking to Buy: What you need to Know About Breaking your Lease

What you need to know about breaking a lease:

A lot of y’all want to buy a house, but having a current lease can get in the way. This is one of the main reasons people wait to start looking at homes—they don’t want to break a lease and pay potentially significant fees in the process. Looking at the big picture, this may not always make financial sense and here’s why. Seattle-area houses have appreciated at a breakneck pace, increasing 15.7% over the past year alone according to NWMLS. At this rate, a $500,000 home added $78,500 in value over the past year, averaging more than $6,500 increase per month. Looking at these numbers, having to pay a few months of rent to break a lease could make financial sense.

Have any questions or concerns around waiting to buy? Don’t hesitate to reach out to us, and we can help see what makes sense for your situation.

Jason Saldarriaga, Real Estate Broker

Born in Austin, Jason’s path to real estate began at the University of Florida, where he majored in Geography. He moved to Seattle in 2011 to work for a major tech company and developed a keen eye for details and a commitment to the customer journey. When he’s not assisting clients, you can find him playing piano, searching for the best brunch spot in Seattle, or exploring all the natural beauty we have in the Pacific Northwest.

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Call/Text: (206) 765-6215

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