questions

18 Questions to ask before renting-to-own a home

As a home buyer, it’s important to ask the right questions before settling on the purchase of a home.  This is a huge investment that you and your family (or future family) will live with for years to come, so it’s important to be prepared.

Even for homeowners interested in renting-to-own their home, it’s important to be prepared with the right questions ahead of time.  This can help you set the right goals ahead of time to ensure you enter an agreement that benefits you. Continue reading

first steps journey

Your First Steps on your Rent to Own Journey

Now that you have began your journey toward rent to own, you may ask what the next steps are?  Where does this road lead, and which path should you take to get to the finish line?

One of the first steps is finding the home you want to invest in.  There are many sources for rent to own homes, and all of these have different features.  Not all resources are legitimate however.  You should make sure to find a trusted source of rent to own homes like www.irenttoown.com Continue reading

lease purchase

What is a lease purchase and do you need one?

Within all rent-to-own agreements, the beginning lies with what is called the Lease Purchase Agreement.  This is a very popular choice for those interested in living in the home they will someday buy before making a dedicated commitment to purchase the home.  Let’s discuss what a Lease Agreement is and why this is an important part of the home purchase to clearly understand prior to embarking on your rent-to-own journey.

Introduction to Lease Purchase Agreements:

The Lease Purchase is a combination of an exclusive right-of-first-refusal for later purchase of the property and what we consider a “traditional rental agreement” like you would see when renting an apartment or a house.  What this means is that you will lease the home with the option to purchase it later at a pre-agreed upon price.  This means that the resident will pay what’s known as an option fee, as well as a monthly payment which includes rent credit for a set period of time.  This contract will also include a locked-in sale price of the home and set of rules unique to your particular arrangement. Continue reading

resources and advice

Rent-to-Own Resources and Advice

If you’ve decided to rent to own a home, you may be wondering what the next step is and in need of resources and advice.  The options available to you are endless, and often so are the questions when just starting out.  Luckily, we have developed a list of commonly asked questions.

Is credit score important?

The importance of a good credit score can not be underestimated in the housing market.  Luckily, rent-to-own homes tend to need less-than-perfect credit scores than traditional methods of homeownership.  However, this doesn’t mean that your credit score isn’t important, or won’t be.  Often times you will live in the home and pay credit toward ownership, but will need to improve your credit before you can purchase the home. Continue reading

steps

Important steps in the rent-to-own process

If you are a potential home buyer who is looking into a rent-to-own contract, don’t get too excited – it’s important to do thorough research prior to signing.   Before you start, you need to have an understanding of how the rent-to-own process really works.  Below we have provided you with a breakdown of the details of every step of the rent-to-own process.

Finding a rent-to-own home.

The first step in the rent-to-own process is finding a rent-to-own home.  When looking at homes for sale in your area, ask sellers if they would consider a rent-to-own agreement instead of a traditional purchase.  You can visit open houses and educate the owners on the benefits of a rent-to-own arrangement.  Alternatively, you can search our extensive database of rent-to-own homes in your area to find the perfect home from an owner already interested in the rent-to-own process. Continue reading