Wednesday, February 1, 2012

What Are The Advantages of Renting to Own My Next Home?

Whether you call it Rent to Own, or "lease-purchase" or "lease-option" or "lease with an option to buy," it can make good sense to acquire your next home using this technique.

Whether it is your dream home we're talking about, or maybe just your "starter" or "re-starter" home, Rent to Own has many advantages for the buyer.

Among them:

* Low Down Payment to Get Into the Property. You won't need nearly as much to initiate making this your home long-term as you would if you were just buying it today. Instead, you can put down a lesser amount now, and then build on that over time, especially when you...

* Receive Rent Credit Toward The Purchase Price. The amount and terms vary from home to home, but almost all rent to own properties allow you to apply some (sometimes even all) of your rent toward the purchase price of the home.

Many mortgage brokers and banks will consider this your "down payment" when considering your loan application, so it allows you to build up potentially tens of thousands of dollars you would otherwise have simply spent on rent, with no long-term benefit to you and your family's financial future. How else are you ever going to save that much money? Most people never do.

Don't throw your hard-earned money away on rent -- once you pay the rent, that money is gone forever. With Rent to Own, that money can still work toward your future financial security.

Rent to Own homes are not always easy to find, but we've always got several available. Call us at 630-697-4500 and we'll help you find a Rent to Own home of your own!

Adam and Diane St. James

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