A rent-to-own agreement can be an excellent option if you’re an aspiring homeowner but aren’t quite ready, financially speaking. These agreements give you the chance to get your finances in order, improve your credit score, and save money for a down payment while “locking in” the house you would like to own. If the option money and/or a percentage of the rent goes toward the purchase price, which they often do, you also get to build some equity.
As home prices rise and more and more cities are priced out of range of many buyers, Rent-to-Own is a great option for renters to get into the housing market now, before the prices go up even more!
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