Also consider that you will still have to put up the security deposit, first month's and maybe last month's rent to get into a rental. Sometimes that adds up and those funds could be used as your down payment for a home purchase instead of going into the landlord's pocket.
A real estate agent experienced in putting these types of contracts together should be consulted. The agent will provide you with suggested properties that are willing to consider a rent-to-own situation, help you assess the value of the properties and navigate you through the entire process.
If I can help answer further questions, give me a call.
CRIS, AHWD, Certified Foreclosure & Short Sale Adviser,
Employer-Assisted Housing Specialist
Champion Realty, Inc.
711 Bestgate Road, Annapolis MD 21401