flexibility

Enjoying the flexibility of a rent-to-own arrangement

Owning your own home can be a truly rewarding experience, and comes with it’s own set of pros and cons to consider.  One of the larger mistakes people make when purchasing their first home however, is biting off more than they can chew and ending up with a bit too much house than their wallet can afford.  This situation can ultimately end in foreclosure of the property. Rather than buying a home too early and ending up in a difficult situation that may prevent you from owning another home in the future, you should consider renting-to-own which would allow you to take advantage of the flexibility of renting while working toward ownership of the home.  This helps ensure that once all the happiness and excitement of your new home purchase wears off, you are not left with an empty wallet and lots of regret. Continue reading

closing costs

Do you have to pay closing costs when renting-to-own a home?

A common question asked by would-be homeowners going through, or just beginning, the rent-to-own process is whether or not they will be required to pay the closing costs of the home once the rent-to-own agreement has reached its pre-agreed upon lifespan.

Benefits of Renting-to-own

One of the benefits of renting-to-own is that there are no closing costs in this type of transaction.  This is a benefit to both the buyer and the seller and removes another thing to negotiate over when drafting contracts.   The biggest benefits to buyers tend to be the lack of closing costs and the fact that (in general) a buyer isn’t required to pay a down payment.   However other fees and interests may apply so it is important to educate yourself on what may be included in the rent-to-own agreement. Continue reading

myth

Are Rent-to-Own Homes Just a Myth?

Many people mistakenly believe that rent-to-own homes are a myth and don’t actually exist.  This causes rent-to-own homes to incorrectly be labeled as scams.  Due to this, many legitimate opportunities go overlooked and are not taken advantage of by the people who can use these types of agreements the most.   

While it is true that finding the right opportunity is difficult, the fact of the matter is that rent-to-own homes are not only a reality but a great alternative path to homeownership for many individuals.  As with any legally binding contract, you should make sure to educate yourself on the pros and cons of this type of agreement prior to jumping in.   Continue reading

gardens for renters

Small Space Gardening Tips for Renters

Winter is almost over and Spring is right around the corner.    With Spring less than a month away, now is a great time to start planning out your garden.  You don’t have to own a home in order to have a great garden.  In fact those with limited space can still grow quite a bit of produce.   Small spaces are actually ideal for growing vegetables since it mimic conditions similarly found in traditional “walled gardens”.  Let’s look at some of the way you can get the most out of your balcony or small yard.

  1. Hanging Baskets

Hanging pots or baskets are a great way to save space and can allow you to grow many different crops, including herbs, salad leaves, tomatoes, and peppers.  These types of crops require a lot of sunlight so be sure to place these where they get the most exposure and water them very well.

  1. Trailing Crops.

Trailing crops are things like Zucchini, Yellow Squash and Green Beans.  These crops are great for small spaces because they can be trained to grow just about anywhere.  Train them along the edge of the railing on a balcony or up lattice.

  1. Make use of quick crops.

Plants like Swiss Chard and Radishes are ready to sow in almost no time at all.  Make use of the gaps that may develop in the garden with these quick crops.  These types of crops are usually matured in just a matter of a few weeks and can be great way to make the most of your space.

  1. Wall Training.

It’s important to make use of vertical space when you don’t have a large plot to work with.  There are many fruits such as apples that can actually be pruned to grow along a wall and they produce just fine.   This also frees up useful bed space for the underplant planting of leafy veggies or squashes.

  1. Underplanting

This another great way to make use of space.   In areas around taller crops such as corn or say sunflowers.   You can make use of the space underneath those crops.  Leaf vegetables such as lettuces will flourish in those conditions and squash can be trained out to sunnier areas to give it the energy it needs.

  1. Vertical Beds

There are many products available that are called Vertical Gardening Systems or vertical beds.   You can buy these or build them yourself. to increase the amount of soil you have available in a given space to plant your crops.
There you have it.  If you’re looking to plant a garden this spring and your still renting that apartment with limited space these tips are sure to help you out.   If you’re looking for more space to plant a garden you might want to consider putting that rent money somewhere useful and check out our selection of Rent-to-Own homes.

house

FHA Rate Cut Suspension Hurts First Time Homebuyers

On Dec. 27, the Department of Housing and Urban Development announced that premium rates for mortgage insurance on loans backed by the Federal Housing Administration would drop by a quarter of a percentage point.  This change would have brought the rate down to what it was before the housing market crash in 2008.  New home buyers using a government-backed FHA loan and who put down a small down payment would have benefited from this change greatly.  Continue reading