Rent To Own Good Idea Or Bad Idea

Dated: January 25 2021

Views: 364

My professional opinion it’s a Bad Idea and here’s why:

*You pay about 20% above the typical rent for the house as well as option fees etc.

*The agreed upon purchase price will be what the owner anticipates the market value to be at the end of your term. 

(That’s another discussion as the home May not even be worth the agreed upon purchase price)

*You still have to qualify for a home loan to purchase the home at the end of your rent to own term, which is typically about 3 years.

*If you’re unable to qualify to buy or choose not to purchase the home the owner walks away with additional money you paid toward his mortgage and you walk away with nothing.

Why Pay Someone Else’s Mortgage, When You Can Pay Your Own.
Make the right moves today to put yourself in a better position tomorrow.

Blog author image

Tolechia Lane

I purchased my first home as a single mother in my early 20's, so I know the fears, the anxiety and the financial responsibility that comes with such a large purchase. But I also know the pride, joy a....

2 comments in this topic

  • Posted by Daniel Wilson
    03/06/2021
    I am interested in more information I am tired of renting
  • Posted by Daniel Wilson
    03/06/2021
    I am interested in more information I am tired of renting

Latest Blog Posts

The Truth About IBuyer Companies

The Truth About IBuyer Companies that offer to buy your home for cash, such as Open Door, Orchard, Zillow, Redfin, Offerpad, and many others. 1. These Companies Are Investors looking to make a

Read More

Rent To Own Good Idea Or Bad Idea

My professional opinion it’s a Bad Idea and here’s why:*You pay about 20% above the typical rent for the house as well as option fees etc.*The agreed upon purchase price will be what the owner

Read More

How To Build Wealth Through Real Estate

Imagine paying 3.5% down payment, using a mortgage to purchase a home but getting a 100% of the property to enjoy and all the benefits that comes with it. That is called leveraging your money and

Read More

Preparing To Purchase A Home

When Preparing to Purchase a Home the First Step is getting your finances and credit in order. Mortgage Lenders Review you Credit History, Employment Status, Income and Debt to qualify you for a

Read More