If you’re looking for homes for rent by owner (or by a management company) in the Inland Empire, have you considered rent to own?
Rent to Own gives you the best of both worlds… and you don’t need great credit to do it!
Given the choice between renting and rent to own, we believe that rent to own is often the better choice. In this blog post, we’ll look at 4 reasons why rent to own is a great way to buy a house… even if your credit isn’t perfect. If you’re looking at homes for rent by owner in Southern California then you may want to expand your search to consider rent to own options…
Owning a home is part of the American Dream… but it’s also very expensive. Many people are forced to rent, putting money into their landlord’s pocket while struggling to get ahead. Wouldn’t it be nice if you could “rent your way to home ownership?” You can. It’s called “rent to own” and it’s growing in popularity.
It works like this: You rent the home from the owner/landlord, just like normal. But the agreement is often a multi-year agreement in which you agree to purchase the home on or before the end of the lease term. Keep reading to discover 4 reasons why this is SO powerful…
4 Reasons Why Rent To Own Is A Great Way To Buy:
Reason #1:
It’s pretty easy to qualify. Unlike buying a house (which requires a high credit score and down payment), a rent to own property starts off as a rental. There might be other qualifications required but, in general, it’s a much easier way to qualify to buy a house.
Reason #2:
You can buy a home even if you have bad credit now because you will have plenty of time to fix your credit! A rent to own agreement doesn’t require you to have good credit, but it does give you the time to establish your finances and improve your credit so by the time you’re ready to make the purchase, you can qualify for a mortgage.
Reason #3:
You can “try out” homeownership before you actually buy. Some renters are surprised by the difference between renting and owning. But a rent to own agreement gives you the ability to try out home ownership first to understand what it’s really all about without having to first get a mortgage!
Reason #4:
You put down roots. One of the biggest complaints of renters is that they feel like they don’t have a permanent place. They’re stuck in a short term rental agreement and don’t feel like they have a permanent home. But with rent to own agreements for homes in Southern California, you and the owner know you’re in it for the long haul because you plan to buy the house.
Summary
If you’re looking for houses for rent by owner in Southern California, you should broaden your search and start thinking about rent to own homes too. This is a simple strategy to help you get into a permanent home sooner, and you don’t need perfect credit or a huge down payment to make it happen!