NEWS

Jul 31 2017

Homes for Rent to Own – Homes for Rent to Own #for #rent #by #owner

#rent own homes
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Homes for Rent to Own

Have you been renting apartments, condos or homes?

Rent to Own Homes – The Path to Home Ownership

Rent to Own Homes – The Path to Home Ownership

The real estate market is filled with rent to own houses. A rent to own home is a fantastic way of acquiring home ownership without dealing with mortgage companies or banks. Throughout the past 20 years, this industry has helped millions of individuals and families get into the home they want without all the hassle.

The idea of rent to own homes is growing rapidly. Some choose the option to try out a neighborhood before fully committing into buying a home and some are still undecided in their final job placement. The overall consensus shows that a rent to own home can be a perfect solution.

What are you paying for your rental home now? Stop paying your landlord every month so he can own your home. You can lease to a rent to own house that you want and by making your lease payments on time. and properly recording them. you can actually improve your credit to qualify for a home loan. possibly with zero down.

The best part about this is that with a rent to own home, you get to live in the home you want to buy while you work on fixing your credit up. The program works well for individuals in a variety of situations, including those with bad credit, individuals that have gone through bankruptcy, divorce, and just cannot meet the strict requirements of banks and lenders.

Rent to own homes offer an excellent way to build equity in the home before you even own it! When you choose a lease purchase, rent to own house option, you will have an upfront deposit payment, typically as low as 0.25%-10% of the house total price. All of the money in this deposit goes towards your ownership. The contract signed is usually just a regular lease with the option to purchase the property for a set amount at a predetermined time in the future. While your monthly rent is generally a bit higher than what you would pay in a rental situation, it is likely about the same as you would pay if your were able to obtain a zero down mortgage. Thus when you qualify to get your own loan you will not experience any payment shock.

Even though you will be renting to own the house, most times the maintenance is the responsibility of you, the buyer. You will be responsible for all the regular house maintenance including things like broken windows, clogged-up drains, painting/wallpapering, broken appliances, and lawn work. All major repairs for the overall house remain the owner’s responsibility until the purchase is final.

Another great feature of a rent to own home is that with these programs, your future purchase price is fixed at time of deposit payment regardless of future value appreciation. This process also helps to prepare the tenant for the responsibilities of home ownership. So, from day one, if you take care of your home as if it were yours that day, you can reap the benefits of home value appreciation by gaining even more equity before you even own the home.

Any way you look at it, rent to own homes are an immediate answer and an intelligent alternative to conventional loans.

Jim Freeman is a real estate broker of Kitsap County Real Estate near Seattle, WA. He offers buyers and sellers many unusual guarantees and programs such as a guaranteed sale program and price performance guarantees for buyers. He is a principal of Washington Lease To Own LLC which provides lease to own home consulting in Washington State. He has been a successful broker, developer and owner of real estate for over 30 years. See more about rent to own homes at http://www.jimfreeman.com/index.php?option=com_content





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