Does renting to own a home really work?

+1 vote
asked Sep 21, 2017 in Real Estate - Renting by wenza (300 points)
Does renting to own a home really work?

I'm looking into buying a home through a rent to own seller. Is renting to own a home really a legit way to actually own a home?

1 Answer

0 votes
answered Sep 21, 2017 by Minty (132,850 points)
Renting to own a home does work if you understand the contract that you sign.

When renting to own a home you usually put money down and then make monthly payments for the duration of the lease and then when the lease is up you usually have to come up with the remainder of the balance of the house.

If you don't come up with the remainder of the balance then you usually lose the house.

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