If you’re not quite ready to buy a home but the home of your dreams is on the market now, you might have another option. It’s called a rent-to-own or rent-to-buy-contract.
Learn the variations of rent to own agreements and read real-life examples. See how to find rent to own homes, get a mortgage when the lease period is over, and learn about the rent-to-own disadvantages.
If you can’t qualify to buy a home, consider a rent-to-own contract. You’ll rent the property from the owner for a set period of time, after which you agree to purchase the property. It’s pretty straightforward, but there are some complications.