Buying a Rent To Own Home – 7 Advantages for Buyers In a Rent to Own Agreement

Buying a Rent To Own Home – 7 Advantages for Buyers In a Rent to Own Agreement

When buying a rent to own home you will find that there are a ton of advantages to you (the buyer) for having a rent to own agreement. Below are 7 advantages for buyer’s in a rent to own agreement:

1.) Rent to own beats the non-private, traditional apartment setting. Most people, when they think of renting, usually an apartment comes to mind. When you are looking for a rent to own home there is a lot more freedom because you are not being stuck with an apartment with no yard. These transactions are typically on town homes, condos, or houses. The luxury is that you have a little more freedom to pick something that you wouldn’t mind being in for the rest of your days. Some homes have pools, nice manicured lawns, and often times you will have complete access to all the amenities if the home of your choice is located in a community or sub-division.

2.) Build up down payment money and credit all while living in your dream home. Since mortgage companies and edges are tightening up on lending and not many people have twenty to thirty percent down, renting to own a home allows you to work on both your credit and down payment money. No longer does someone have to wait to move into their dream home due to credit and money.

3.) The option to buy is up to the buyer. If the market changes, the buyer can change with it. When the term of the agreement is over, it is up to the buyer to decide whether or not they want to buy the home. Though the option place that was made at the beginning of the transaction is non-refundable, it may make better since to find another home to buy because the real estate market may have changed for the better.

4.) already if a buyer doesn’t qualify for a traditional mortgage, they can nevertheless live in a home. Let’s confront it, the lending market is tough right now and probably will get tougher. Seeking out a rent to own home allows you a much better way to qualify than the traditional mortgages. Everyone needs a place to lay their head at night.

5.) The similarities are often in much better shape than traditional rentals. This is a biggy. Ever walked into a home that you were going to rent and saw that a cardboard box might be a better place to lay your head. Most of the homes in the rent to own market are in spectacular shape. Some are homes that could not be sold traditionally. This leaves you with a huge inventory of nice looking houses to choose from.

6.) You don’t have to move twice. Find the house you want, stick to the agreement, and you will not have to move again. Just keep building up your credit and money. When the lease option time is up, you should be in a much better position to buy.

7.) Buyer’s do not have to wait long to move in. The homes are usually move in ready. Since many of these homes have been on the market awhile, they are move in ready. Homeowners usually give their homes a good cleaning and a thorough walk by before putting it on the market, this in return method that you want have to wait to move in.

Since the economy is changing ever so drastically, people are turning to other alternatives than the traditional way of buying a home. Rent to own homes is becoming a growing trend all across the nation due to these changes. Keep in mind that there are many advantages to buying a rent to own home.

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