Sterling Properties Launches “Upgrade-to-Ownership” Program

By Erika Schnitzer, Associate EditorLivingston, N.J.—Sterling Properties is encouraging renters to apply past rent payments towards the price of a new home in its “Upgrade-to-Ownership” program.”There are many renters at our communities that are interested in becoming homeowners so they can stop the cycle of paying rent without building equity,” says Rosanne Brooks, director of sales and marketing for Sterling. “Some of these individuals are hesitant to purchase a home now as a result of their perceptions of uncertainty with regard to the current financial climate.” Renters can apply up to $25,000 of last year’s rent towards homes at some of Sterling’s for-sale multifamily communities, including Viera at Hanover, RoseVallé at Chatham, Sterling Pointe at Franklin Township, The Brownstones at Essex Fells and  The Brownstones at Convent Statio.”For first-time buyers especially, now is  a great time to buy a new home, and this program is directly targeted at making that value proposition even more clear by offering them an incredible opportunity to put their past rent payments–money they never thought they’d see again–toward the cost of buying a new home,” Brooks tells MHN.Viera, a 40- unit active-adult townhome community, offers two- and three-bedroom homes, ranging in size from 2,500 to 2,700 sq. ft. The active-adult community Sterling Pointe offers both townhomes and single-family homes, ranging from 2,500 to 2,700 sq. ft.In addition, the 56-unit RoseVallé offers three- and four-bedroom residences, ranging in size from 3,300 to 4,100 sq. ft. , as well as partially finished basements of approximately 1,000 sq. ft. The Brownstones at Essex Fells features 36 two-bedroom townhouses of approximately 1,900 sq. ft. that include two-car garages, and the three-bedroom Brownstones at Convent Station offer approximately 3,900 to over 4,000 sq. ft. of living space.”This program directly targets all prospective buyers,” Brooks explains. “This segment of the home-buying population has an incredible advantage in the current market because they do not have to be concerned with selling a home in order to buy.”