Best answer
Rent-to-own can be a great alternativeif you can’t afford to buy a home outright,have a low credit score or don’t have enough money for a down payment. Rent-to-own contracts can also give you the chance to see how you like a home and neighborhood without committing to buying it.
People also ask
What is a rent to own home?
What are rent to own homes? Rent to own homes are those with leases that include either an option to buy or a requirement to buy after a certain period of time. The rental payments include both rent and funds that contribute to a future down payment.
Can you buy a house with a rent to own contract?
Through a rent-to-own contract, renters who aren quite ready to buy can begin the process of owning their first home while landlords can also secure a potential sale while still renting the property. What are the basics of a rent-to-own agreement?
Should you rent-to-own or buy a home?
Rent-to-own can be a great alternative if you can’t afford to buy a home outright, have a low credit score or don’t have enough money for a down payment. Rent-to-own contracts can also give you the chance to see how you like a home and neighborhood without committing to buying it.
Are rent-to-own homes a good option for landlords?
Landlords in some areas will be asked if lease to own agreements are an option at their properties. Even if you haven considered this setup before, rent-to-own homes can be a great option for landlords who are ready to change up their revenue streams.