Can I legally get out of my rent lease if I purchase a new home?

Answer 1

No, but you can try to work with your landlord by telling him you bought the home and offering to work with him to get the place rented.

Answer 2

I would finish the lease first, especially at a time like this that in most area of the U.S., housing price stopped going up as inventory continues to build up. It is normal to see a correction as a boom that lasted for several years.

If you are investing new money in to real estate, this may not be a good time as the potential return on investment is small compare to the high risk of lower home price.

If you are doing a side way move, meaning you are selling one to buy another one, then it is acceptable.

Nothing is absolute, but housing market is very likely undergoing a correction and this is only the beginning. Some say this would be a soft landing (0 to 10%). Some say a big crashing is coming (10 to 20%).

http://money.cnn.com/2006/08/24/news/economy/newhomes/index.htm
http://money.cnn.com/2006/08/23/news/economy/homesales/index.htm

Answer 3

These answers are correct. A lease is a contract. A contract has monetary value. Also, if you give notice the leassor is required to try to rent the place out.

Answer 4

Not without an agreement between you and landlord. If you have been a very good tenant and you find them somebody else to rent the place they might let you out of it. I know, I am a landlord.

Answer 5

sublet is a good option as one already suggested, also, talk with your landlord and offer to let him/her take time to find another renter.

Answer 6

No, you would have to buy your way out or offer to sublet.