Rent-to-own can be a good option if you are an aspiring homeowner but, for various reasons, aren’t able to buy a home right away. This may primarily be due to a poor credit score or possibly not having enough money for a down payment.
The terms laid out in your rent-to-own agreement will determine your rental payment, how long the lease is for, etc. Since your goal is to buy the home by the end of the lease, you will need to adhere to these terms to avoid any hiccups in the process.
This means paying your rent in full and on time, keeping the property in tip-top condition, building up your credit, and maintaining a good relationship with your Landlord. You’ll also want to start saving up for a down payment so you are ready when it comes time to buy the property.
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