Rentals in Homestead>Question Details

Shanika, Renter in Homestead, FL

Needing to move soon. My husband and I are wondering if Rent/Lease to Own is a good option & worth looking into.

Asked by Shanika, Homestead, FL Mon Sep 17, 2012

We are looking for a place between Florida City/Homestead area and Cutler Ridge/Cutler Bay area. Either a Rent/Lease to Own property or simply a rental property. At least 3 bedrooms, paying no more than $1050 a month.

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4
Lease/Purchase is an option that we offer. Monthly rent $1,500.00. Sale closing no more than two years. Should you have any questions, please contact me at irela.castillo421@gmail.com or 305.761.6413 Irela Castillo
0 votes Thank Flag Link Tue Sep 18, 2012
Historically, lease to own deals only benefit one person....the seller. They are structured so only the seller is protected 100% of the time. You are better of finding a traditional rental at a lower monthly cost and saving the difference for a down payment on your next place (which is what would be happening to the extra portion of your payment anyways, but there is no risk when done on your own).

Tony Vega
La Rosa Realty
0 votes Thank Flag Link Mon Sep 17, 2012
I would totally agree with my fellow collegue Heather.... In Homestead especially i would ensure the property was financially stable and not a pre-foreclosure .... Also, please be advised the rents have gone up dramatically from last year so please keep that in mind..
0 votes Thank Flag Link Mon Sep 17, 2012
Lease options are only good for a buyer if they go into with the absolute intent to purchase in my opinion. If I was doing one I would have a full home inspection and I would go the extra step of getting an appraisal. If your intent is to purchase,it must appraise. Plus your market could change +/- by the time you go to complete the purchase. I would talk with a mortgage professional in your area and see what you need inorder to be ready for a purchase. It may not take as long as you think.
0 votes Thank Flag Link Mon Sep 17, 2012
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