You enjoy the benefits of learning while the homeowner and seller pays the cost of property taxes, insurance and Homeowners Association Fees. Due to rising prices of rent, as well as the increasing difficulty to save the amount of money for a down payment on a house, renting-to-own has become very popular.
A rent-to-own agreement gives you the opportunity rent a house for a 3-5 year period, then buy the house at the end of the leasing period. This is a great way to test a home before committing to purchasing it right away. Renting to own is also perfect for renters who are working to improve their finances. Leasing a house through rent-to-own does not require you to buy the house, but it does give you the first opportunity to purchase the house at the end of the leasing agreement. The price of your house will not go up during the rent-to-own lease.
