Reasons to Consider a Rent to Own Home

Are you considering getting a rent to own home?   If so, you probably would like some reassurance that this is a good decision.  After all, many people would have you to believe that rent to own homes can only work to the benefits of home sellers.  This is not true.  A properly structured rent to own deal can be great for a home buyer.   Let’s look at the many benefits of getting a rent to own home.

• You get to live in the home while you are repairing your credit.  Typically, you will have at least two years to exercise your option.
• No one else can buy the home during the option period but you!
• A portion of each months rent goes towards the purchase price.  No more throwing money away on rent!
• Less cash out of pocket now than if you went the conventional mortgage route!
• You will know you are approved very quickly.  No waiting weeks on end for an underwriter’s decision.
• Ability to move in very quickly!
• Potential for little or no down payment when it comes time to get a mortgage.
• You profit from any appreciation. (As long as the purchase price is agreed on now)
• Bad credit will not prevent you from getting into your home.
• Depending on whether your contract is assignable, you may be able to sell the home for a profit.
• You control the home but have less liability than you would if you were actually the owner.
• Ability to simply walk away should your circumstances change.
• Ability to make changes to the home as you see fit.  No waiting for your landlord’s approval!

All of these benefits combined mean that getting a rent to own home can be a sound financial decision as long as the contract is properly structured. So why not start looking at rent to own homes listings today?