If you know our brand by now, you know one of our messages is not everyone is meant to be a home owner, and some aren’t meant to be right now. We work hard to educate so that each individual can make the right decision for the season of life they are in right now. One of the most popular questions we receive is rent-to-own, how does it work? Can we do it? Will the seller allow it?
The answer is usually it depends. There’s a lot of factors involved in rent to owns and usually they don’t favor the buyer/tenant. Our advice is always, if you want to look into home ownership but can’t own right now, let’s try to get you on a path to owning. What does that path look like? We take into consideration, do you need a down payment and do you have the savings for that? Do you need to work on your credit? What are your goals in owning a home? Are you prepared for the expense of keeping up a home?
Each rent to own lease/contract has it’s own perimeters, so we won’t divulge into those here. But we do want you to know to be very “buyer beware” and have someone represent you in the process. If owning is truly a goal for you, you are usually better off repairing credit and saving for the future.
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