How Do You Find Rent-to-Own Homes?
For most people looking to get a house, taking out a mortgage and buying the property directly is their path to homeownership. While this approach has advantages, it also has drawbacks: You'll need a good credit score, money for a down payment and a commitment to pay the monthly mortgage for the next 20 or 30 years. Unfortunately, this process is not ideal for everyone.
However, for those with low credit or who are uncertain about their ability to commit to living in a single area for a long time, leasing a house with the option to buy it from the owner later can be a way to finally have a home of one’s own on manageable terms. While rent-to-own isn’t the best choice for everyone, and not all rent-to-own deals are created equally, great deals are out there — if you know where to look for them.