Rent to own is a way to buy a home in Atlanta that’s flexible, affordable, and low-risk. Here’s what you need to know about rent to own homes.
What is Rent to Own?
Rent to own homes are a type of lease-to-own agreement. You pay the seller rent monthly, while also making monthly payments on the balance of the home. This gives you time to adjust your finances and prepare for a major purchase like buying a house.
How Does Rent to Own Work?
The process of rent-to-own works like this: You find a house you like and make an offer on it. The seller accepts your offer, which will include terms like how much you’ll pay each month in rent, how much down payment you’ll need when it comes time for you to buy the house, and other details about the purchase of your new home. Then you move into the property and start paying rent each month until it’s time for you to buy it outright from the seller (usually after three years). If things don’t work out with your landlord or if you decide not to buy after all…no problem! You just move out of your rental home without any penalties or fees from either party involved.
Rent to own homes in Atlanta allow you to rent a house or apartment, with the option of buying it at any time. The price of the home will be negotiated between the owner and tenant, and you can use this process to see if you want to buy before making a commitment.
There are many benefits of Rent To Own homes:
- You can live in a larger home than you would otherwise be able to afford
- You don’t have to make an all-at-once down payment on your home
- You can try out living in a new area before committing fully
- If you decide not to buy the home, you don’t have any extra fees or costs associated with renting
