Is it better to live in rent to own homes, rent, or buy our homes outright? The answer, like many questions of this nature, depends on a lot of things. Everyone’s personal circumstances are different and the decision should always be made on those circumstances.
- Contract - Rental Agreement - Rent-To-Own Home Maintenance - Lease Option/Purchase
Everything in life is negotiable. That also applies to the rent to own homes option. Make sure you address this with the owner before signing any agreement.
Those buyers that need help with one or both of the above conditions can take advantage of an extended period to build equity in the home, along with increasing their credit score.
The seller also benefits with potentially more money in their pocket as typically, the rent to own homes option comes with a higher sales price.
Another negative that a buyer could potentially face has to do with the home’s purchase price. To obtain a fair price and help prevent a significant drop in value, researching home prices and hiring a home inspector should be completed before signing an agreement.
If the seller receives an offer for the home (full price or higher) during the lease period, then they’d have to refuse it as the tenant’s lease option gives them the first dibs to purchasing the home.
You can try searching on sites such as: – RentToOwnLabs – IRentToOwn – RealtyStore