Rent to Own Homes

Rent to own homes, otherwise known as rent to buy homes or lease option homes, provides the purchaser with the opportunity to purchase the home they move into, under a rental purchase scheme. The structure of the agreement for rent to own homes can be quite flexible, and is somewhat similar to rental purchase plans provided for goods such as cars and electrical goods.

Effectively the agreement outlines a term over which the rental purchaser can elect to purchase the home, at a fixed purchase price. The rental purchaser can therefore "try before they buy", as the property purchase is a right, but not an obligation on the part of the purchaser. Some of the rent paid under the agreement may be offset or credited against the purchase price of the house, so that that the purchaser is effectively paying off the house over time.

Rent to Own Homes work well for buyers who may be short on deposit or may not qualify for a bank loan to purchase a property right now, but will be in a position to do so prior to the end of the rent to own agreement term.

Further details on how the rent to own system operates can be found from a legal perspective at Cordato Partners.

If you are interested in the opportunity of purchasing a home available through Houses to Go or would like to discuss with somone further, then you can Contact Us Here.