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Rent2owndealz's Blog

By Rent2owndealz | Landlord in Boston, MA

Is Rent 2 Own Right For You?


Before you start shopping for Properties, or decide to work with a Rent 2 Own Real Estate Company, it’s extremely important to determine if Rent 2 Own is right for you.

We wrote this Article as a helping hand.  It provides you with all of the basic information needed to determine when, and if you should purchase a Rent 2 Own Home.

There are Three (3) basic questions that will help you determine if you should Rent 2 Own.

1.    Do You Want To Be Responsible For the Property?

For many people, owning a Home is the American Dream.  However, there are more responsibilities that go along with owning vs. renting. 

Owners are responsible for all maintenance issues, big and small.  This includes day to day items such as mowing the grass, or shoveling snow from the driveway.  It also involves handling repairs, large and small.

When you own, there is no such thing as calling the Landlord to fix that leaky tub, or to replace a broken light fixture. 

So you need to ask yourself, are you ok with doing these type of things yourself, or paying someone to do it for you?

If you answered YES, then Rent 2 Own may be right for you!!

2.    Are You Ready to Do What It Takes In Order To Qualify For The Mortgage?

With most Rent 2 Own situations, the Buyer/Tenant has an wonderful opportunity to Rent the house, fix their current Credit or Income problems, and then qualify for a Mortgage to purchase the property by the end of the Lease Agreement.

You are not alone, especially when it comes to fixing your Credit.  There are many great Credit Repair companies out there that will assist you.

So you need to ask yourself if you are prepared to take the necessary steps, during the Rental Phase, to fix your situation in order to apply for, and qualify for a Mortgage to purchase your Home?

If you answered YES, then Rent 2 Own may be right for you.

3.    Are You Prepared Financially?

Typically, the Rent 2 Own Process will cost you anywhere from $3,000-$5,000 depending on your Purchase Price, Monthly Payment, Deposits, etc.

So you need to ask yourself if you have the necessary finances to afford buying a Rent 2 Own home at this time?

If you answered YES, then Rent 2 Own may be right for you 

 

If you have answered YES to all Three Questions, then Rent 2 Own is definitely right for you.

If you have answered YES to Two out of Three Questions, then Rent 2 Own is probably right for you, although you need to give serious thought to the NO answer.

If you have answered YES to only One Question, then Rent 2 Own is probably not right for you at this time.  It is certainly something that you can explore in the future.

If you have answered YES to none of the Questions, then Rent 2 Own is not right for you at this time.

If you would like more information, or a FREE Consultation, please contact us at 508-230-8811.

Email us at Rent2ownDealZ@Gmail.com 

You can also visit our Website at www.Rent2ownDealZ.com

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