Benefits of a Rent-to-Own
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Rent-to-Own homes have great benefits if you are looking to purchase a home but just need some time to qualify. There can be several reasons you need some time but there are some great benefits to the program. Here are a few of the benefits:
1. Move-in now, purchase later - Rent-to-Own homes allow you to move in today and live in your dream home until you can purchase it. You don’t have to live in a smaller, dingy or out of the area home until you can purchase. If you have found the home for you, you can live in it from day one.
2. Move-in right away- If you are ready to move now, we can have you moved into your home in less than a week. We have moved people in 2 days in the past but typically a week is suitable for most people.
3. Improve and Customize - Rent-to-Own homes allow you to do improvements, customizations, and personalize the home knowing it is yours and you won’t have to cut your losses to a landlord one day. Paint, landscape, put up fences, change light fixtures, and finish your basement knowing it is all yours and you will benefit from the sweat equity of your work and improvements.
4. Have your closing costs covered from day one- when you go to a lender and get financing, you will need money for closing costs. With the rent-to-own program, you have your closing costs covered so you don’t have to worry about having the funds available when the time comes.
5. Lock in your purchase price for your time period- If you are worried about home prices rising in the future, with the rent-to-own program you don’t have to! We take care of the paperwork and your purchase price is always the same.
6. Lock in rent for your entire time period- Just like the purchase price, rents can be rising in your area too. We lock in your rent amount so you never have to worry about unexpected increases for your entire time frame.
7. We can refer you to a lender – we have great resources to help you with a plan to homeownership. If your obstacle is credit, our lender will look at your situation, tell you what you need to do to fix it, and tell you how long it will take to get there. The lender will be able to get you qualified for a loan that suits you whether it is a conventional loan, VA loan, FHA loan, or other suitable product.
8. Get 30 days of maintenance included- if you buy a house, good luck getting the seller t fix a leaking faucet or damaged gutter after you settle. With the rent-to-own program, you get the benefit of moving in, checking everything out, living in the home, and making sure everything is working properly and there are no problems. We check everything out beforehand but there are certain things that you may find from living there. Anything you find that needs attention in the first month will be taken care of by our maintenance personnel.
9. We are here to walk you through the process- we are always available to answer questions, provide advice, and help you with any uncertainties you may have.
10. Only move once- instead of finding a rental, moving out of your old home, moving into your new rental and living there for a year or two just to purchase a home anyway, the rent-to-own program allows you to move one time. That means only one moving expense and one moving headache. You can also unpack and live in your home knowing you don’t have to move again.
There are many benefits of rent-to-own homes. If you have a question that isn’t covered here, give us a call! You can also send us a message on the website at the bottom of the page. We are more than happy to answer any questions and provide any help you may need. 410-357-8946