Home Buying in Perkasie>Question Details

Rand Althor, Home Buyer in Perkasie, PA

Has anyone had any experience with a lease/purchase or rent to own?

Asked by Rand Althor, Perkasie, PA Mon Dec 5, 2011

I am trying to determine if this avenue is worth pursuing. Currently, our debt to income ratio is too high (loans for grad school) and do not see that changing anytime in the near future. Would I be better off waiting until I can qualify for a mortgage? Most info I have found on the subject seems to be negative so I am hoping to hear from someone who has some experience (positive or negative).

Thanks in advance.

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A lease option can be a good way for someone in your situation to get into a new home. The only issue you may run into is that a lot of lease purchases are not advertised that way from the get go. Right now a basic search of Bucks County brings up only a handful of properties that show lease purchase as a possibility (I can send you the list, if you like!) .. However, that doesn't mean they aren't possible. You could always find a house you like for purchase and ask them if they are open to a lease purchase. It may take some more time to find, but it's not out of the question.
Web Reference: http://www.kimberlyrock.com
0 votes Thank Flag Link Mon Dec 5, 2011
A lease/purchase option can be a good choice for someone in your situation. That is how we bought our first home. What you do is sign a lease with an option to purchase the home at the end of the term of the lease. The owner agrees on a montly rent and part of that rent can be used towards a downpayment on the purchase of the property. Let me know if I can help you. Call me at 610-739-2710

Eve Gulla
Keller Williams Real Estate
0 votes Thank Flag Link Mon Dec 5, 2011
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