Archive for November 19th, 2012

The Benefits of Choosing a Home through Rent-to-Own

Monday, November 19th, 2012

The Rent-to-Own system of acquiring a house allows buyers to purchase their dream home without going through the traditional nitty-gritty process of purchasing real estate asset. This is an excellent way for buyers to pay for their home without really putting a big dent on their budget or their savings. It’s a convenient set-up because the prospective buyers can better plan their finances and can even improve credit scores and standing. Basically, this process gives them more time.

Not all sellers are in a hurry to receive a full payment for their homes. Some sellers would even prefer a rent-to-own scheme than the conventional method because this method makes it easier and faster to sell their house. This makes it a perfect opportunity for buyers who are tied up in other loans or those who do not have instant cash to buy their house.

The Rent-to-Own method can even land the buyer into a great deal that will suit their monthly financial capabilities. It’s so hard to pass up on this opportunity especially when the policy allows a lot of flexibility on the pocket. The future homeowners who are on this scheme will still be considered “renters” of the property until they have fully paid off the house, which means that they don’t have to worry about real property taxes until the property has been transferred under their name. It will still be the sellers’ or owners’ obligation to pay off their real property taxes.

The only amount of money that the buyer has to worry about is the initial deposit, which can be equivalent to two month’s rent on the property and that’s it. The Rent-to-Own scheme is available for newly built homes or foreclosed properties, so sellers do have a wide selection of choices on the type of home that is ideal for their needs and their budget.